The Mines and Geosciences Bureau (MGB) took part in the Philippines Wealth Accounting and Valuation of Ecosystem Services (Phil-WAVES) Implementation Support Mission which kicked-off on March 27 and ended April 11, 2017.
Being part of the Phil-WAVES Project, the MGB has extended its assistance in providing technical data and expertise especially in the development of the Minerals Account, led by the PSA.
The Mission is the culmination of the World Bank-assisted Phil-WAVES Project and is aimed to review the progress of the overall implementation of the Project and its way forward in the institutionalization of Natural Capital Accounting (NCA) in the Philippines.
The Mission highlights included a two-day national conference on NCA with the theme “Accounting Nature, Capitalizing Partnerships for the Future” held in Marco Polo Hotel, Pasig City on March 30 to 31.
The NCA conference showcased the outputs related to wealth accounting and valuation of ecosystem services undertaken in pilot areas in the country including those done in Palawan and in the Laguna de Bay. It likewise paved the way to mainstream wealth accounting in the overall development agenda.
Other events in the Mission were: 1) series of meetings and policy consultations between the Government and the World Bank as regards the Institutionalization Roadmap for the Environment and Natural Resource Accounting System of the Department of Environment and Natural Resources (DENR) among others; 2) continued capability-building for the DENR and Philippine Statistics Authority (PSA), which include trainings on Radar Technology and on System of Environmental-Economic Accounting-Experimental Ecosystem Accounting Framework; and 3) workshop for the finalization of guidebook on Philippine ecosystem accounting to be published by end of April.
The NCA measures the contribution of natural capital to economic activity. Natural capital shall include sub-soil assets (oil, gas and minerals) and the renewable natural capital (ecosystems, land, water resources). It is a process of calculating the total stocks and flows of natural resources in a given ecosystem or region. This will serve as guide in the decision-making process for the Government, corporations and other entities in the consumption and/or sustainable use of our natural resources.
By: Mining Technology Division
RADAR CLASSIFICATION WORKSHOP. Vernier L. Serrano (2nd row, 2nd from right) of the Mining Technology Division participated in the 2nd Module workshop and training on Radar Technology as part of the continuing capability building for DENR and other agencies who are part of the Phil-WAVES project. The workshop was held on March 27-31, 2017 at Geomatics Training Center, NAMRIA, Taguig City.
NATURAL CAPITAL ACCOUNTING CONFERENCE. Joven T. Battung (2nd from left) of the Mining Technology Division is joined by other delegates in the recent national conference on Natural Capital Accounting held at Marco Polo Hotel, Pasig City on March 30-31, 2017.