DMCI Mining Corp. has offered to help the Department of Environment and Natural Resources (DENR) create a national framework for carbon credits.
Carbon credits are tradable certificates for the right to emit an equivalent amount of carbon dioxide and other greenhouse gases.
Tulsi Das Reyes, DMCI Mining president, in a briefing in Makati City last week, said the proposal was tackled with DENR Secretary Maria Antonia Yulo-Loyzaga.
“In our country, we don’t have a framework for carbon credits… We would like to help (DENR) with Marubeni (Corp.), our partner which has a global framework. They’ve done it in other countries before (and) they would like to share it in the Philippines,” Reyes said.
Marubeni is a Japanese firm that has been involved with several projects of DMCI Mining’s parent firm and affiliates.
The carbon credits framework complements the current National Greening Program which aims to rehabilitate all remaining unproductive, denuded and degraded forestlands estimated at 7.1 million hectares.
DMCI Mining added when implemented, a national carbon credit framework may also further persuade transnational companies to operate in the Philippines.
In the absence of a national framework for carbon credits, local government units have implemented their own.
Earlier this year, the provincial government of Negros Oriental launched an ordinance for incentivizing incoming renewable energy investors through carbon credits.
