Natural resources scarcity in philippines
Philippines - Wealth Accounting and Valuation of Ecosystem Services
Photo: Beach in Philippines
More Information
Context
Progress
Institutional design
What's New?
Context
The Philippines is among the few countries that implemented environmental and natural resources accounting during the 1990’s and early 2000’s, but it has only been implemented minimally over the last 10 years due to budgetary constraints, among other issues. The new political leadership emphasizes governance reforms including transparent and science-based decision-making while pursuing inclusive and sustainable growth that addresses conservation, protection, and rehabilitation of the environment and natural resources. Recently, increasing scarcity of natural resources and recognition of the archipelago’s vulnerability to natural disasters and climate change have led to increased interest in addressing poverty, environmental degradation, and the development of new sources of growth.
The Philippines government decided to institutionalize the recently-endorsed international standard, SEEA 2012 in the medium and long term. WAVES Phase 1 efforts initially focused on fisheries, and coastal and marine ecosystems. With increasing scarcity of terrestrial resources and strong interactions between land-based and sea-based economic activities pointed to the need for developing land and ecosystem accounts and SEEA 2012 provides guidance on it. Approaches such as resource accounting, valuations, payments for ecosystem services, and sustainable conservation financing are mentioned in the recently completed Philippine Development Plan 2011-2016 (PDP).
The WAVES initiative for the Philippines is well-timed, providing the opportunity for an enhanced green accounting approach that includes:
Developing a macro-level indicator of long term sustainability of economic growth, the Adjusted Net Savings (ANS) inclusive of valuating natural capital Generating detailed information on
Photo: Beach in Philippines
More Information
Context
Progress
Institutional design
What's New?
Context
The Philippines is among the few countries that implemented environmental and natural resources accounting during the 1990’s and early 2000’s, but it has only been implemented minimally over the last 10 years due to budgetary constraints, among other issues. The new political leadership emphasizes governance reforms including transparent and science-based decision-making while pursuing inclusive and sustainable growth that addresses conservation, protection, and rehabilitation of the environment and natural resources. Recently, increasing scarcity of natural resources and recognition of the archipelago’s vulnerability to natural disasters and climate change have led to increased interest in addressing poverty, environmental degradation, and the development of new sources of growth.
The Philippines government decided to institutionalize the recently-endorsed international standard, SEEA 2012 in the medium and long term. WAVES Phase 1 efforts initially focused on fisheries, and coastal and marine ecosystems. With increasing scarcity of terrestrial resources and strong interactions between land-based and sea-based economic activities pointed to the need for developing land and ecosystem accounts and SEEA 2012 provides guidance on it. Approaches such as resource accounting, valuations, payments for ecosystem services, and sustainable conservation financing are mentioned in the recently completed Philippine Development Plan 2011-2016 (PDP).
The WAVES initiative for the Philippines is well-timed, providing the opportunity for an enhanced green accounting approach that includes:
Developing a macro-level indicator of long term sustainability of economic growth, the Adjusted Net Savings (ANS) inclusive of valuating natural capital Generating detailed information on