Climate advocates react to PH hosting of ‘loss and damage fund’ board

SunStar Publishing Inc.

AMID their approval of the Loss and Damage Fund Board’s decision to choose the Philippines as its host country, climate campaigners have urged the government leaders to demand more from the global fund.

“In response to the World Bank’s role, climate justice movements in the Global South are pushing for the Fund’s independence from its host, citing the Bank’s history of financing fossil fuel projects, supplying billions in trade finance to oil and gas projects as recently as 2022, and preference for loans with conditions,” Nacpil said.Meanwhile, Nacpil said that “it’s unacceptable that the Fund has received only 661.

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