Guidelines on Loss and Damage Fund to be finished before year-end

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00:00Department of Environment and Natural Resources or DENR Secretary Maria Antonia Yulo-Loyzaga

00:08revealed there will be a meeting in December where it is expected that the guidelines for

00:12the Loss and Damage Fund will be signed by the United Nations Framework Convention on

00:17Climate Change.

00:18The Loss and Damage Fund was created to raise funds to provide financial aid to nations

00:23that have suffered damage due to the effects of climate change.

00:27Among the possible uses of the fund are for the infrastructure and agricultural damage

00:32as well as the loss of lives.

00:34Currently, some $700 from pledges of various nations have been raised.

00:39Countries considered to be vulnerable to climate change and activities of rich nations that

00:44affect the environment will be prioritized.

00:47On climate vulnerable countries in terms of who will be able to avail, I have to say small

00:55island development states and Africa, they are prioritized rather than the Philippines.

01:03We know how serious their problems are.

01:07So the small island development states, particularly in the Pacific, they are all here.

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