Ecosystem accounting is a method that integrates nature's value into decision-making processes. By quantifying ecosystems' contributions to human well-being and the economy, it underscores the critical role of natural resources in achieving sustainable development. This approach enables policymakers and stakeholders to evaluate and manage ecosystems more effectively, fostering a balance between economic growth and environmental conservation.
Participants, organizers, and resource speakers during the Training Workshop on Strengthening Local Capacity for Ecosystem Accounting in the Visayas. (Image credit: SERD, DOST-PCAARRD)
The significance of ecosystem accounting has grown as President Ferdinand Marcos Jr. signed Republic Act (RA) No. 11995, also known as the “Philippine Ecosystem and Natural Capital Accounting System (PENCAS)” Act, into law on May 22, 2024. This legislation establishes a comprehensive framework for evaluating and managing ecosystems and their services, ensuring that the nation’s natural resources are recognized as essential components of the economy. By supplementing traditional metrics such as gross domestic product (GDP) with ecosystem data, the law facilitates informed decision-making that prioritizes sustainable development and accurate valuation of natural resources.
DOST-PCAARRD representative and training resource persons discussing the proposal submission process of the Council. (Image credit: SERD, DOST-PCAARRD)
Recognizing the critical need for capacity building in this field, DOST-PCAARRD and the University of the Philippines Los Baños (UPLB) conducted their second ecosystem accounting training titled “Training Workshop on Strengthening Local Capacity for Ecosystem Accounting in the Visayas” from November 18 to 22, 2024, at Patio Pacific Hotel, Boracay Island, Malay, Aklan.
This initiative complements PCAARRD’s ongoing project, “Valuation and Accounting of Ecosystem Services (VALUES) Lab: Building Capacity for Sustainable Forest and Natural Resources Management.” The training focused on enhancing the knowledge and skills of socio-economic researchers in ecosystem accounting. Key topics included analytical methodologies and the cultivation of a core group of researchers capable of leading ecosystem accounting projects, thereby fostering sustainable natural resource management.
The workshop in Boracay was the second installment of PCAARRD’s ecosystem accounting training series, following the first event in Luzon in 2023. This year’s training welcomed 27 participants from various state universities and colleges (SUCs) and institutions, including Central Philippines State University, LGU-Himamaylan, Provincial Environment Management Office, Bohol Island State University-Bilar, UPLB Graduate School, LGU-Bago, Philippine Normal University, West Visayas State University, MENRO-Lambunao, University of San Carlos, Negros Oriental State University, and Mindanao State University-Naawan.
Participants engaged in a dynamic learning environment featuring lecture-discussions, hands-on exercises, and interactive sessions led by expert resource speakers. Dr. Gem B. Castillo delivered insightful lectures on topics such as the introduction to ecosystem accounting and assessments of ecosystem extent, condition, and services. Dr. Canesio D. Predo and Dr. Cristino L. Tiburan Jr. provided in-depth discussions on spatial analysis tools and applications for ecosystem accounting. Dr. Asa U. Sajise shared her expertise on the valuation and monetary accounting of ecosystem services.
The training culminated in the development of full-blown proposals aimed at securing funding from DOST-PCAARRD. These proposals are expected to drive future ecosystem accounting initiatives and contribute to the effective management of the Philippines' natural capital.
This workshop represents just one of PCAARRD’s numerous initiatives in ecosystem accounting and valuation. Since 2017, the Council has integrated resource and ecosystem assessment, monitoring, and valuation into its Natural Resources and Environment Research and Development (R&D) Agenda and Socio-Economics R&D Agenda. It has funded programs focusing on the economic valuation of ecosystem services, policy options for access and benefit sharing (ABS), and sustainable financing mechanisms such as payment for ecosystem services.
DOST-PCAARRD remains steadfast in its commitment to advancing comprehensive natural capital accounting systems. By supporting additional projects and programs, the Council aims to enhance its ability to provide evidence-based recommendations, guide policy decisions, and place environmental considerations at the forefront of national development strategies. These efforts are vital to ensuring a sustainable future for the Philippines.