Manila: The Department of Environment and Natural Resources (DENR) is calling on the private sector, particularly the business community, to invest in large-scale reforestation efforts. This initiative aims to combat climate change while providing access to carbon credits and new green economic opportunities.
According to Philippines News Agency, Environment Secretary Raphael Lotilla highlighted the dual role of forests as environmental buffers and economic assets, with potential benefits from carbon credits in sustainable forest management areas. Lotilla posed a challenge to the business sector to view themselves not merely as producers of carbon credits but as active participants in capturing the added value of these initiatives.
On July 31, the DENR signed a memorandum of understanding (MOU) with the Ayala Group of Companies under its Forests for Life: 5 Million Trees by 2028 initiative. This flagship reforestation drive targets critical watersheds in Ilocos Norte, Bataan, Rizal, Leyte, Bukidnon, and Lanao del Norte with the aim of planting at least five million indigenous forest trees over the next three years.
During the signing, Lotilla emphasized that the Philippines should transcend its role as a passive supplier of carbon credits and explore opportunities to become a regional or global hub for high-integrity carbon markets. He explained that the Forest for Life program integrates satellite and drone monitoring, carbon sequestration tracking, and data-driven forest management to measure outcomes and eligibility for emerging carbon finance mechanisms.
Lotilla stated, "The private sector can help unlock their full value by leading investments in forest regeneration, carbon sequestration, and nature-based solutions." The MOU with the Ayala Group, including its business units such as Ayala Corporation and Globe Telecom, reaffirms its commitment to the program following its initial pledge during the International Day of Forests last March.
The MOU outlines responsibilities for partners to conduct reforestation activities, including site preparation, seedling production, tree planting, and maintenance. Partners may also engage in community mobilization and education campaigns to support the program.
The DENR, through its Forest Management Bureau (FMB) and regional offices, will identify suitable reforestation sites and provide technical assistance, permitting, compliance, and regulatory support. The agency will monitor program implementation, track tree survival rates, and maintain a public registry of partners to ensure transparency.
In addition to ecological benefits, partners can gain sustainability certifications, tax perks, and recognition in environmental reports. The DENR reported that 21 other entities are currently listed in the program's partner registry, hoping to inspire more companies to join and tap into emerging carbon finance opportunities.
The DENR stated, "These forests will deliver lasting ecosystem services such as cleaner air and water, biodiversity conservation, and natural disaster risk reduction, while supporting the country's commitments to global climate action."
