Showing posts with label Fiscal Mechanism. Show all posts
Showing posts with label Fiscal Mechanism. Show all posts

Friday, August 23, 2024

Fiscal Mechanism to Boost Conservation in the Philippines to Boost Conservation in the Philippines

The Philippines, renowned for its rich biodiversity and unique flora and fauna, is facing a significant challenge: deforestation. In 2010, the country had 13.1 million hectares of natural forest, covering 62% of its land area. However, by 2023, it had lost 32.4 thousand hectares of natural forest, equivalent to a staggering 25.6 million metric tons of CO2 emissions. Despite contributing only 0.48% to global carbon emissions, the Philippines is highly vulnerable to the impacts of global warming.

The Philippine government has undertaken several key initiatives to address deforestation. One of the major programs is the National Greening Programme (NGP), which aims to plant 1.5 billion trees across 1.5 million hectares of land by 2028. This initiative not only contributes to reforestation but also generates employment opportunities in the forestry sector. Another significant effort is the Community-Based Forest Management (CBFM), a national strategy overseen by the Department of Environment and Natural Resources. This program involves local communities in forest management and conservation efforts. By granting rights to People’s Organizations (POs), it has successfully reduced deforestation rates and promoted sustainable practices.