The Senate on Monday, 19 August 2024, passed on third and final reading Bill 2780 conferring juridical personal and legal entity on the Board of the Fund for Responding to Loss and Damage due to Climate Change, allowing it to buy land and (other) assets and enter into contracts in the country. “Loss and damage” pertains to the United Nations’ description of harm, including — among other things — loss of lives, prolonged heat waves, species extinction, crop failures, monetary costs from the destruction of infrastructure, buildings, crops and other property, even impaired ways of life inflicted by climate change on countries.

Climate change vulnerability. (2024, August 21). Daily Tribune, p. A5.