Sen. Imee R. Marcos presides over the Committee on Foreign Relations hearing Monday, August 5, 2024, on five bills which seek to grant juridical personality and legal capacity to the Loss and Damage Fund Board (LDFB).
Marcos said LDFB, an international body, was established in November 2022 to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to economic and noneconomic loss and damage.
As a result of all these efforts, the Loss and Damage Fund was established. On July 8, 2024, the Philippines was selected as the host country of the Board. She said part of the Philippines’ commitment is to confer juridical personality and legal capacity as well as grant privileges and immunities to the Board. “The Philippines’ extensive involvement in the creation of the Board is a testament to the country’s advocacy for climate justice and equity,” Marcos said. (Senate Public Relations and Information Bureau)
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