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The Philippines has been selected to host the board of a global fund aimed at helping vulnerable nations cope with climate risks.
The loss and damage fund is a global finance mechanism set up at the COP28 talks in Dubai last year, to provide compensation for losses and damages from natural disasters caused by climate change. The decision on who to host the fund was announced this week, following closed-door deliberations at the board’s second meeting held in Incheon, South Korea.
“We fully appreciate the…
