DAVAO CITY — “We have convened today to discuss the potential of forest carbon markets for BARMM. This event marks a significant step towards carbon neutrality, thanks to the Carbon Market framework and UNDP’s invaluable support,” said Atty. Badr E. Salendab, MENRE’s Director General for Environment and Natural Resources, during the Capacity Building Training on Forest Carbon Market Mechanisms and Presentation of the Carbon Trading Strategy for BARMM, held this September 24-25 in Davao City.
The initiative complements the Project Accelerating Green and Climate Finance in the Philippines: Nature-based Solutions (AGCF), funded by the Government of Canada, which aims to increase private sector investments in gender-responsive nature-based solutions (NbS) for climate-resilient technologies, innovations, practices, and approaches.
The two-day training focused on developing policies to operationalize BARMM’s Carbon Market participation pursuant to the Bangsamoro Forestry Code, identify policy and capacity building needs, provide readiness support, and mainstream climate change actions and incentives for forest conservation.
Discussions also included institutional arrangements and feasibility studies for engaging in a voluntary forest carbon landscape, including blue carbon, led by Atty. Edna Maguigad and Dr. Trina Isorena.
Prior to this, the FMS participated in the Map Validation and Capacity Building Needs Workshop for Forest Carbon Market Mechanisms cum Review of the BARMM Regional Sustainable Forest Management Act (RSFMA) last August 19-21 in Cagayan de Oro City.
Atty. Maguigad further discussed the REDD+ framework, which encourages countries to reduce deforestation and degradation through financial rewards or results-based payments (RBPs) for verified emission reductions (ERs), while promoting sustainable development.
The event provided a timely opportunity for the FMS, currently reviewing the Bangsamoro Forestry Code, to consider incorporating carbon market mechanisms into its provisions. “I believe it is ‘doable’ as long as we do not become overwhelmed by the technicalities of the carbon market,” FMS Director Abdul-Jalil S. Umngan noted.
He also advocated for prioritizing the BARMM Sustainable Forest Management Bill as a cabinet bill once it is passed to the Chief Minister and the Bangsamoro Parliament Speaker.
“Our final deliverable is the roadmap or the guidelines. Rest assured that our support regarding the Sustainable Forest Management Bill is still firm,” said Mark Anthony Ramirez, UNDP Programme Analyst.
UNDP expressed confidence in the remaining steps in policy development and document finalization leading to fruitful outcomes.
“Together, these initiatives support a just transition to resilient and low-emission development that sustains nature and ecosystems and protects the rights of all who are affected and at risk,” UNDP concluded.
