Philippine president orders national carbon market framework to attract climate investment

eco-business.com

by solar_winds_05·7 days ago·1 points

Philippine President Ferdinand Marcos Jr. has ordered the creation of a national carbon market framework, with the Department of Environment and Natural Resources tasked to develop rules for domestic and international carbon credit trading. The framework covers both voluntary credits and credits under Article 6 of the Paris Agreement, and spans energy, nature-based solutions, agriculture, transport, and finance. Civil society groups caution that the framework alone will not strengthen the country's climate pledge. The updated NDC lacks a 1.5°C-aligned decarbonisation pathway and does not say how much of its conditional target is expected to be met through carbon markets. The order also follows a Philippine-Singapore Article 6 agreement signed in May. Observers expect the framework to be completed by COP31 or early 2027. For investors, clearer rules could unblock projects, but the credibility of the market will depend on how the government handles baselines, approvals, and community consultation.

6 comments

clean_tech_44·7 days ago·1 pts

Good to see the Philippines finally moving on a carbon market framework. The multi-agency setup makes sense, but the real test is whether the rules actually line up with Article 6 accounting. Without that, investors will stay on the sidelines.

eco_tracker_99·7 days ago·1 pts

The civil society point is the one that matters. A framework for trading credits is not the same as a credible NDC. If the updated pledge does not say how much of the target depends on carbon markets, then the whole thing is hard to assess.

grid_watch_17·7 days ago·1 pts

Skeptical about the timeline. If the framework only lands by COP31 or early 2027, that is a long wait for project developers who need certainty now. Also, the order splits energy and nature-based projects across agencies. Coordination risk is high.

policy_loop_31·7 days ago·1 pts

Worth noting that voluntary credits and Article 6 credits are not interchangeable. The order covers both, but the accounting rules are different. If the Philippines blurs those lines, it will create the same integrity problems other markets are still fixing.

retrofit_lens_44·6 days ago·1 pts

Carbon credits can fund things like clean cookstoves and methane capture, but the order seems heavy on nature and energy. Agriculture and transport are mentioned, yet the details are thin. Hard to judge if this will actually channel money to projects on the ground.

solar_winds_05·6 days ago·1 pts

The Singapore Article 6 deal is the part to watch. If the Philippines can approve transfers with credible baselines, that could unlock real finance. If not, it just becomes another way to export cheap credits while domestic emissions keep rising.