ENERGY Secretary Maria Antonia Yulo-Loyzaga said that the country is “most qualified” when it comes to hosting the board of the climate disaster fund called “Loss and Damage Fund.” 

Loyzaga said that it shows that the country is serious in battling the effects of climate change.

Loyzaga made the remarks at the COP28 in Dubai, where she said that Manila is in the final stages of completing the National Adaptation Plan and Nationally Determined Contributions Implementation Plan. 

In a statement, the Presidential Communications Office (PCO) said Loyzaga announced that the Philippines is seeking to host the Board of Loss and Damage Fund.

The Philippines is also vying for a seat in the inaugural Board of the Fund.

Loyzaga said that the Philippine Department of Environment and Natural Resources (DENR) said that Manila looks to advance the values of its biodiversity and oceans.

This is as the source of nature-based solutions to the climate crisis and to serve as the foundation for inclusive and resilient development.

“In our country, we have taken concrete actions by implementing policies and initiatives to reduce emissions by catalyzing investments in our rich sources of renewable energy, enhancing resilience, advancing right-skilling and social protection, especially for the most vulnerable, to achieve a just transition, and mainstreaming climate considerations into our development plans and budgets,” Loyzaga said.