Ensuring sustainable use of natural resources could improve the lives of the poor as they are usually highly dependent on natural resources for their livelihood.
In 2013, agriculture, forestry and fisheries accounted for 11.2 percent of
Phil-WAVES will use the 2012 System of Environmental and Economic Accounting (SEEA), an internationally accepted framework for the accounting of natural resources, to measure minerals and mangroves. The PSA will use this information to develop macroeconomic indicators that will assess the value of these key natural resources and their contribution to the country's GDP.
"Having sufficient data on natural resources and analyzing this properly is crucial to making decisions that will help the country reach the twin objectives of ending extreme poverty and increasing shared prosperity. We are optimistic that Phil-WAVES will help us better appreciate the interactions between the economy and the environment," said Mr.
"Knowing the total value of natural capital like mangroves and minerals can help policy makers address poverty issues. For instance, lack of valuation of mangroves and their role in protecting the coastlines can lead to conversion to shrimp farms and other uses, with the poor losing their means of living from fish habitat destruction and their coastal communities becoming more vulnerable to extreme weather events like storm surges," said
The Phil-WAVES grant will focus on capacity building and generating data and indicators for key natural resources, in order to support the Philippine government in institutionalizing the use of the selected SEEA modules. To ensure sustainability, four staff will be recruited under the grant to support PSA in the implementation of natural capital accounting (NCA).
This work will be completed by a second grant, also administered by the
"Phil-WAVES will help provide quality data on the current state of natural resources in
"The implementation of NCA in
Members of the
The recently approved Phil-WAVES grant will focus on minerals and mangroves and support the sustainable management of these key sectors. Executive Order 79 on institutionalizing and reforming the Philippine mining sector refers to WAVES as a tool for conducting resource accounting and cost-benefit analyses.
A national account and associated indicators will also be developed for mangroves, whose role in protecting coastal communities against storm surges and other climate change-related events was highlighted after Typhoon Yolanda (international name Haiyan).
TNS 18EstebanLiz-140530-30FurigayJane-4750435 30FurigayJane
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