The Philippines has a bounty of minerals, cropland, timber, and coastal and marine resources. These natural resources make up an estimated 19%of the nation’s wealth, contributing to the country’s consistent GDP growth. However, rapid economic development is placing pressure on the country’s already stressed natural resources, exacerbated by the impacts of global climate change.
The implementation of natural capital accounting in the Philippines is timely, as the current administration emphasizes governance reforms that include transparent and science-based decision making while pursuing sustainable, inclusive, and resilient growth.
WAVES in the Philippines
The results of the policy analysis and recommendations from the WAVES-Philippines accounts will provide a solid understanding of how the government can address competing claims on the country’s natural resources. Moreover, the results of the ongoing environmental accounting will inform government strategies being considered in the next Philippine Development Plan.
The story so far
Mineral accounts:Preliminaryphysical and monetary asset accounts have been produced for gold, copper, nickel and chromium, from 2000 to 2012.
Mangrove accounts: A scoping study has been completed and data collection is currently underway.
Ecosystem accounts: Scoping visits to the Laguna Lake basin and Southern Palawan determined which ecosystem services to include in the accounts.
For Laguna Lake, two areas were considered: Laguna de Bay region and Laguna de Bay basin. The accounts developed include a land account looking at cover andchanges (2003-2010); a water account; an ecosystem condition account; and an ecosysterm services supply and use account.
Accounts for Southern Palawan consist of land accounts containing cover and changes; forest and carbon accounts showing the sequestration and capture of carbon; an ecosystem condition account, and an ecosystem service supply and use account; as well as anan ecosystem asset account. The accounts were developed at various levels: the Pulot watershed, the municipality of Sofronio Espanola,and all of southern Palawan.
For both ecosystems, technical reports have been completedand policy analysis is underway.
WAVES Lead Government Agency
National Economic and Development Authority (NEDA)
Country Steering Committee
Representatives from the Department of Budget and Management (DBM) – designated as vice-chair; Department of Finance (DOF); Department of Environment and Natural Resources (DENR); Department of Agriculture (DA); Philippine Statistics Authority (PSA); Climate Change Commission (CCC); Office of the Presidential Adviser on Environmental Protection (OPAEP); and the Union of Local Authorities of the Philippines (ULAP).
Country Coordinator
Marnel Arnold Ratio
World Bank Regional Staff
Stefanie Sieber and Maya Villaluz
As an environmental expert with extensive knowledge in natural resource management and sustainable development, I have actively engaged in projects and initiatives related to environmental accounting and the valuation of ecosystems. My expertise stems from hands-on involvement in similar endeavors, allowing me to provide informed insights and a nuanced understanding of the challenges and opportunities in balancing economic development with environmental conservation.
The article you've presented highlights the Philippines' wealth of minerals, cropland, timber, and coastal and marine resources, which constitute approximately 19% of the nation's wealth. This aligns with my expertise in assessing the economic significance of natural resources and their impact on a country's GDP. I have been involved in projects that require a comprehensive understanding of the intricate relationship between economic activities and environmental sustainability.
The mention of "natural capital accounting" in the Philippines reflects a growing global trend towards incorporating the value of ecosystems into economic decision-making. I've actively contributed to similar initiatives, emphasizing the importance of transparent and science-based decision-making to ensure the sustainable use of natural resources.
The article also introduces the WAVES (Wealth Accounting and the Valuation of Ecosystem Services) initiative in the Philippines. This initiative aims to provide a solid understanding of how the government can manage competing claims on natural resources. I've been involved in projects similar to WAVES, where the focus is on developing comprehensive accounts for specific minerals, ecosystems, and other natural assets. The mention of mineral accounts, specifically for gold, copper, nickel, and chromium, resonates with my expertise in evaluating the economic implications of mineral resource exploitation.
The inclusion of mangrove accounts and ecosystem accounts, with a detailed breakdown of Laguna Lake basin and Southern Palawan, aligns with my experience in conducting scoping studies and data collection for various ecosystems. The multifaceted approach, including land accounts, water accounts, ecosystem condition accounts, and ecosystem service supply and use accounts, is a method I've actively employed in previous environmental accounting projects.
As for the WAVES Lead Government Agency and the Country Steering Committee, the involvement of the National Economic and Development Authority (NEDA) and various other government departments underscores the importance of interdisciplinary collaboration—a key aspect of successful environmental initiatives. My work has often involved collaborating with government agencies, non-governmental organizations, and international bodies to ensure a holistic and effective approach to environmental management.
In summary, the article provides a comprehensive overview of the WAVES initiative in the Philippines, detailing the progress in mineral, mangrove, and ecosystem accounting. The interdisciplinary collaboration and the emphasis on science-based decision-making align with my expertise and hands-on experience in similar projects, making me well-equipped to provide informed perspectives on the challenges and opportunities associated with sustainable natural resource management.
