Former DENR Sec. Toni Yulo-Loyzaga and former House Committee on Climate Change chair Atty. Edgar Chatto at a reception during the first meeting in the Philippines of the Board of the Fund for responding to Loss and Damage (file photo)
Climate change movers lauded former Cong. Edgar Chatto’s leadership as chair of the House Committee on Climate Change.
This following latest development from the Board of the Fund for responding to Loss and Damage (FRLD) of a $250 million funding intended for its first set of interventions.
“The Executive Director of the Fund for Responding to Loss and Damage sent this to me last night. I wanted to share it with you as your leadership made this possible,” former Sec. Toni Yulo-Loyzaga of the Department of Environment and Natural Resources (DENR) messaged Chatto.
According to Loyzaga, the first USD250 Million in funds will be available to climate vulnerable countries and communities, including the Philippines, after the official announcement in the upcoming Conference of Parties (COP) 30 in Brazil.
Decided at the 7th meeting held in Manila, the initial allocation named Barbados Implementation Modalities (BIM), marks a fundamental step in the Fund’s operationalization, and a shift from set up to delivery, an official statement read.
The Board also approved the Project Cycle, which will provide countries with clear understanding of the funding process. It endorsed eligibility criteria founded on country-led, bottom-up approaches which will empower nations to drive their own climate responses and leverage contextually relevant methods.
It set access modalities to ensure resources reach intended beneficiaries effectively, the press release added.
Climate change movers acknowledged Chatto’s leadership as instrumental to the operationalization of the climate change fund.
“This would not have been possible without your leadership,” Loyzaga told Chatto.
It was during Chatto’s chairmanship when Republic Act 12019 known as the Loss and Damage Fund Board Act, which granted legal personality to the Board, was swiftly passed.
The Philippines was then selected as the host country of the board.
Meanwhile, Chatto relayed the news to climate change colleagues, thanking them for their support and collaborative effort.
“Great news, Sir! This means the Philippine hosting of the Board and our RA 12019 were not for naught!” Climate Change Committee Secretary Rommel Reyes stated.
Meanwhile, Leyte 3rd District Cong. Ana Veloso-Tuazon, Committee Vice Chair, thanked Chatto for sharing the happy news and expressed gratitude for the opportunity to work with the committee.
“Thank you very much, Chair! It has been an honor and privilege to serve alongside you in the 19th Congress. Your leadership and dedication have inspired us to serve with excellence and integrity,” Bukidnon 1st District Cong. Joeman Alba said.
The FRLD is determined to start delivering on its mandate, providing funding to support loss and damage response with the escalating climate crisis, rising vulnerability and urgent need for on-the-ground support.