The Phil-WAVES mission in the Philippines this February demonstrated the successful convergence of theory and practice of natural capital accounting. The two-week mission was comprised of training on the System of Environmental Economic Accounting (SEEA 2012) central framework conducted by the Australian Bureau of Statistics (ABS) and scoping visits to the two ecosystem pilot sites, Laguna Lake Basin and Southern Palawan February 12 and February 17-20, 2014 respectively.