Observers believe the US$10 indicative price for the Kuamut Rainforest Conservation Project’s carbon credits is more than fair, given its highly rated co-benefits and low jurisdictional risk.
The new law seeks to measure the country's natural resources, and will place more scrutiny on activities with negative environmental impacts such as resource extraction, a key driver of the country’s economic development.
Wind and solar expansion in the archipelago could mean renewables targets are met, but it has also worried environmentalists. A proposed wind farm in the Masungi Georeserve in Rizal province could impact up to a thousand hectares of karst landscape.
The novel mechanisms promise to mobilise more private financing for conservation, but risk distracting developing countries from addressing underlying debt issues and could ultimately be exploitative, say experts.