Current Affairs - International - Discussion

The Philippines has been chosen to host the "Loss and Damage" fund board, a key initiative designed to aid countries affected by climate change. This decision is significant as the World Bank will temporarily oversee the fund for the next four years. Despite some concerns regarding the influence of funding countries, particularly the U.S., this move highlights the Philippines' critical role in global climate change mitigation efforts. The fund's administration will be conducted under the overarching guidance of the UNFCCC, headquartered in Bonn, Germany since 1996.