With the government aiming for sustained economic growth of 7 to 8 percent in the medium term, there is a need to pay attention to the country’s natural resources and how they are used and managed.
From around the web
The Department of Environment and Natural Resources is pushing for the adoption a natural resource and environmental accounting system.
NEDA will develop indicators under the NCA method to come up with a proper valuation of the country’s natural resources, Socioeconomic Planning Secretary Ernesto Pernia said.
Remarks as Prepared for Delivery by Mara K. Warwick, World Bank Country Director, Philippines
Remarks by NEDA and the World Bank were made during the National Conference on Natural Capital Accounting in Pasig City, the Philippines.
Sector-wide tools like natural capital accounting are essential to enacting policies for eco-friendly, climate-smart agriculture.
Latin America and Caribbean countries are increasingly using natural capital accounting to inform decision making on policies and planning.
Natural capital accounts can support farmers to market their products, secure finance and attract investment.
Many of the benefits of trees are wholly or partly unvalued in markets and associated GDP calculations.
As our understanding of the value of accounting for natural capital grows, it’s time for finance professionals to seize the opportunity, says ACCA president.