The United Nations-led Fund for Responding to Loss and Damage (FRLD) is hoping to learn from the Philippines’ resilience building, said its executive director Ibrahima Cheikh Diong.
In an interview with the Presidential Communications Office, Diong said Manila’s selection as the fund’s host is “very symbolic” and will showcase all the good work the government is doing toward climate change adaptation.
“We’re very much interested in showcasing the success and great stories of countries that built resilience. What the Philippines is doing obviously is something that we’re going to look at keenly as a fund and make sure that other countries can learn from the Philippine example,” he said.
In the initial FRLD meeting, Diong said the board has decided to go on the ground and see what the Philippines is doing.
“Understanding what the country is trying to do is very important to all of us so that we can be educated, and as the board said, bottom-up approach is all about what the countries want and we’re coming in to add value in supporting them,” he said.
Meanwhile, he praised President Ferdinand R. Marcos Jr. and Environment Secretary Maria Antonia Yulo-Loyzaga for their vision and dedication to the climate fund’s success.
Diong said the Fund would pursue a “holistic fundraising” as it recognizes that the need to fully support countries that are particularly vulnerable to climate change’s destructive impacts is in billions.
“In the meantime, we’re moving slowly but surely on the pledges. When we left Dubai, we had about USD700 million, at COP29 we get more pledges that are coming in,” he said.
“The priority of the board and the secretariat is to make sure we actually convert those pledges into active funding so we can make commitment,” he added.
The UN established the Fund with donations from developed countries to assist vulnerable developing countries that have suffered losses and damage from climate change.
The Board, comprising 26 members from developed and developing countries, will manage and supervise the Fund. (PNA)
