MANILA -- Germany’s foreign minister on Thursday expressed her willingness to tackle loss and damage fund in its cooperation with the Philippines with regard to addressing climate change during a meeting with President Ferdinand R. Marcos Jr. in Malacanang

“This is also something which we believe can be a next step in our cooperation on the climate issue even mentioning the loss and damage fund. This is really a dear to my heart because I was doing a lot of policy beforehand. We said we have to do something about loss and damage,” German Foreign Minister Annalena Baerbock said during the meeting.

According to Baerbock, the topic of climate change is where bilateral relations can be strengthened, as she cited the interest of big German companies to invest in the Philippine renewable energy sector.

This will involve discussions on raw materials, and skilled labor, Baerbock said, adding “this is really a field where it’s a win-win situation or even a triple win situation for employees, for workers, also for our countries.”

President Ferdinand R. Marcos Jr. expressed gratitude to Germany on Thursday for cooperating with the Philippines in addressing climate change, stressing Germany has been the country’s vital partner in this area with its role in the introduction of important technologies useful for the Philippines.

The Philippines would prioritize calling other nations to address biodiversity destruction and species loss in climate-change vulnerable countries as a member of the “Loss and Damage” Board, the country’s Environment Secretary Maria Antonia Yulo-Loyzaga said last month.

Pledges for the Loss and Damage Fund as of December totaled US$792 million, exceeding its initial expectation of US$200 million. (PND)