Committee Details
House Counterpart
Legislative History
Entitled: AN ACT INSTITUTIONALIZING THE PHILIPPINE ECOSYSTEM AND NATURAL CAPITAL ACCOUNTING SYSTEM, MANDATING ITS USE IN POLICY AND DECISION-MAKING, DESIGNATING THE AGENCIES RESPONSIBLE FOR ITS IMPLEMENTATION, PROVIDING INSTITUTIONAL ARRANGEMENTS AMONG
RESPONSIBLE AGENCIES, AND APPROPRIATING FUNDS THEREFOR[ SECOND REGULAR SESSION, 19TH CONGRESS ] [ 2023 ] Introduced by Representatives ELPIDIO JR. F. BARZAGA, ELIZALDY S. CO, MANUEL JOSE "MANNIX" M. DALIPE, FRANCISCO B. BENITEZ PHD., ANTONIO JR B. LEGARDA, et. al.; Approved on Third Reading by the House of Representatives on August 2, 2023; 8/3/2023 Sent to the Senate requesting for concurrence; 8/8/2023 Read on First Reading and Referred to the Committees on ECONOMIC AFFAIRS; ENVIRONMENT, NATURAL RESOURCES AND CLIMATE CHANGE and FINANCE; 9/12/2023 Returned jointly by the Committees on ECONOMIC AFFAIRS, ENVIRONMENT, NATURAL RESOURCES AND CLIMATE CHANGE and FINANCE per Committee Report No. 120, recommending that it be considered in SBN-2439; 9/13/2023 Committee Report Calendared for Ordinary Business; 9/13/2023 CONSIDERED IN SBN-2439 UNDER COMMITTEE REPORT NO. 120.
Abstract
ABSTRACT : Defines several terms among others as follows: Ecosystem - refers to all living things in a given area, as well as their interactions with each other; and with their non-living environments (weather, earth, sun, soil, climate, atmosphere); Natural capital - refers to the stock of renewable and non-renewable resources, including plants, animals, air, water, soils, and minerals, that provide a flow of benefits to people. It also includes ecosystem services such as air and water filtration, flood protection, carbon sequestration, pollination of crops, and habitats for wildlife. Provides for PENCAS framework that shall include, among others, a list of officially designated statistics on the depletion, degradation, and restoration of natural capital; environmental protection expenditures; pollution and quality of land, air and water; environmental damages; and genuine savings.