The Philippines is most vulnerable to devastating climate-related disasters given the current and projected impacts of climate change. Loss and damage (L&D) is inevitable and it has become a key issue in global discussions on climate change adaptation (CCA) and disaster risk reduction (DRR). In many developing ocuntries like the Philippines, L&D is considered an emerging concept that could enhance the nation’s initiatives to address climage change impacts. This study employed review of literature, focus group discussions, round table discussion, and key information interviews to assess the state of L&D system in the Philippines including the process, key actors, gaps and challenges, and ways at improving the current state of the L&D system. It also introduced framework that shows a cyclic process of reducing or avoiding L&D associated with climate change impacts and increasing resilience by combining both CCA and DRR strategies through seven major components: (1) climate stressor, (2) climate/disaster risk, (3) socioecological system, (4) potential and actual loss and damage assessment, (5) resilience-building, (6) implementation of plans, and (7) monitoring and evaluation. This L&D framework could serve as a tool or approach to planning, policy or decision-making, and providing interventions at different scale and targeting multiple stakeholders.