Philippines Executive Order 127 Sets Up National Carbon Market Framework with DENR Lead and Registry

Philippine President Ferdinand Marcos Jr. signed Executive Order No. 127 on October 13, 2026, directing the government to build a national carbon market framework. The order makes the Department of Environment and Natural Resources the lead authority, creates an Inter-Agency Committee on Carbon Markets, and calls for a Philippine National Carbon Registry to track credits and prevent double counting. The framework will cover both voluntary carbon markets and international transfers under Article 6 of the Paris Agreement. It will set rules for project eligibility, credit issuance, monitoring, reporting, and benefit sharing. Sectors like forestry, renewable energy, agriculture, and waste management could qualify, but the actual impact depends on how verification and enforcement work in practice. The DENR must submit a proposed framework within 30 days of the order taking effect. Investors and project developers will be watching whether the registry, auditing standards, and approval processes are strong enough to make Philippine credits credible in international markets.