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NINETEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
Third Regular Session
SENATE
2750
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24 JUL23 P2 33
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S. No.
Introduced by SENATOR RAMON BONG REVILLA, JR.
AN ACT
GRANTING JURIDICAL PERSONALITY AND LEGAL CAPACITY TO THE LOSS 
AND DAMAGE FUND BOARD IN THE PHILIPPINES
EXPLANATORY NOTE
According to the 2023 World Disaster Risk Index, the Philippines remained as 
the most disaster-prone country in the world. Since 2011, the country's risk index is 
the highest among 193 countries being assessed based on indicators that correlate 
exposure to natural disasters and capacity to respond. The country alarmingly scored 
"high in its exposure, vulnerability, susceptibility, lack of coping capacities, and lack of 
adaptive capacities in the face of disasters."
In a 2020 data presented by the Philippines Statistics Authority, the country 
incurred damages amounting to 463 billion pesos due to natural extreme events and 
disasters from 2010 to 2019 - where the Agricultural sector has been largely affected. 
In 2023, the World Bank highlighted that "extreme weather events and rising 
temperatures could see 13.6% of the Philippines' economic output lost by 2040, 
inflicting a heavy toll on the country's poorest if it does not address climate change."
Recognizing these existing vulnerabilities compounded by increasing extremes 
of natural disaster, the country has continued to become a "proactive advocate for 
heightened climate responsibility and justice on the global stage."


Recently, the country has been elected to host the Loss and Damage Fund 
(LDF) Board. The LDF Board, established at the 2023 UN Climate Change Conference 
held at Dubai, United Arab Emirates, is a financing facility created under the auspices 
of the United Nations to provide assistance to vulnerable countries to cope with the 
damaging and irreversible impacts of climate disasters. The Department of 
Environment and Natural Resources reiterated that the country is "most qualified" to 
host the Loss and Damage Fund because it is a living testament to the effects of 
climate change. The country has always been at the forefront of this global challenge 
by necessity of "survival, justice and protecting the rights of our people."
This measure will grant juridical personality and legal capacity to the Board 
which will enable it to perform its mandates, including the capacity to negotiate, 
conclude and enter into a hosting agreement with the World Bank as interim trustee 
and host of the Fund's secretariat.
This measure has been endorsed by President Ferdinand Marcos, Jr. in his 
recent State of the Nation Address.
In view of the foregoing, and in consideration to mobilize innovative sources of 
climate financing to address 'loss and damage,' the immediate approval of this 
measure is earnestly sought.
RAMOIyBONG revilla, JR.


NINETEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES ) 
Third Regular Session
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24 JUL 23 P 2 33
SENATE
s. No. 2750
Introduced by SENATOR RAMON BONG REVILLA, JR.
AN ACT
GRANTING JURIDICAL PERSONALITY AND LEGAL CAPACITY TO THE LOSS 
AND DAMAGE FUND BOARD IN THE PHILIPPINES
Be it enacted by the Senate and House of the Representatives of the Philippines 
in Congress assembled:
1 
Section 1. Short Title. - This Act shall be known and referred to as "The Loss
2 
and Damage Fund Board Act."
3 
Sec. 2. Declaration of Policy- It is the policy of the State to protect and advance
4 
the right of the people to a balanced and healthful ecology in accord with the rhythm
5 
and harmony of nature.
6 
As a party to the United Nations Framework Convention on Climate Change
7 
C'UNFCCC") and the Paris Agreement, the State lauds the creation of the Loss and
8 
Damage Fund C'Fund") under the Decision 2/CMA.4 of the Conference of Parties
9 
serving as the meeting of Parties to the Paris Agreement ("CMA") and during the 27th
10 
Conference of Parties C'COP") to the UNFCCC under Decision 2/CP.27 of the COP, and
11 
its operationalization during the 28th COP under COP Decision 1/CP.28 and CMA
12 
Decision 5/CMA.5. The State resolutely welcomes its establishment to finance and
13 
assist the most vulnerable developing countries' response and recovery from losses
14 
and damages caused by climate change.
15 
In recognition of the role that the State must take to advance climate and
16 
disaster risk resilience, it shall be the policy of the State to take a whole of government


1 
approach in creating and implementing effective policy frameworks and to mobilize
2 
broad and innovative sources of climate financing, addressing loss and damage.
3 
To further unlock opportunities in accelerating access to climate finance and
4 
investments which are critical for future-proofing the economy and ensuring
5 
sustainable and inclusive growth for all Filipinos, the State supports the hosting of the
6 
Loss and Damage Fund Board ("Board") in the Philippines. Towards this end, the State
7 
recognizes the need to grant juridical personality and legal capacity to the Board to
8 
enable it to discharge its roles and functions.
9 
Sec. 3. Juridical Personality and Legal Capacity of the Loss and Damage Fund
10 
Board - The Board, as the governing body of the Fund established by the COP and
11 
CMA shall be granted juridical personality with full legal capacity to:
12 
a. Contract;
13 
b. Acquire and dispose of immovable and movable property;
14 
c. Institute legal proceedings;
15 
d. Negotiate, conclude, and enter into a hosting arrangement with the World Bank
16 
as interim trustee and host of the Fund's secretariat; and
17 
e. Undertake related or necessary activities to carry out the purpose for which the
18 
Board was created.
19 
Sec. 4. Privileges, Immunities, and Exemptions - The Board, as an international
20 
organization, shall enjoy the status, prerogatives, immunities, privileges, and
21 
exemptions granted under the host country agreement entered into with the
22 
Government of the Republic of the Philippines C'GOP").
23 
Sec. 5. Tax Exemptions. - The property, operations, and transactions of the
24 
Fund and its Board shall be exempt from the payment of all taxes, duties, and other
25 
charges imposed by the GOP and local authorities. The Fund and its Board shall also
26 
be exempt from any obligation for the payment, withholding or collection of any tax
27 
or duty.
28 
The Fund and its Board shall be exempt from the payment of all taxes, duties,
29 
and other charges imposed by the GOP and local authorities, except charges for
30 
storage, transport and services supplied, on the importation of equipment, machinery,
31 
motor vehicles, and materials intended for use in the board meeting. The same shall


1 
be processed in the manner and under existing procedures applied by the Department
2 
of Finance in similarly situated cases.
3 
The non-Filipino Fund officials and invited experts and observers shall be
4 
exempt from the payment of income tax on salaries, stipends, emoluments,
5 
indemnities, and sickness and accident benefits, received from the Fund, regardless
6 
of currency used. The GOP retains its rights to tax its own nationals. They shall likewise
7 
not be subject to taxes on their local purchases in the quantity as appropriate for the
8 
duration of the board meeting.
9 
The non-Filipino Fund officials and invited experts and observers shall be
10 
exempt from the payment of all taxes, duties, and other charges imposed by the GOP
11 
and local authorities, except charges for storage, transport and services supplied, on
12 
the importation of personal effects in the quantity as appropriate for the duration of
13 
the Board meeting.
14 
Goods released tax-free and duty-free pursuant to this Act and under the host
15 
country agreement between the GOP and the Board shall be subject to applicable
16 
taxes and duties if sold, transferred, or exchanged in the Philippines to non-exempt
17 
persons or entities, computed based on the value of the goods at the time of the
18 
importation pursuant to existing rules and regulations.
19 
Sec. 6. Repealing Clause. - All laws, presidential decrees, executive orders,
20 
administrative orders, and rules and regulations inconsistent with this Act are hereby
21 
repealed, modified, or amended accordingly.
22 
Sec. 7. Effectivity. - This Act shall take effect upon publication in the Official
23 
Gazette or in at least two (2) newspapers of general circulation.
Approved,