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President Marcos has recently enacted a crucial piece of legislation aimed at enhancing the Philippines’ environmental management framework through the institutionalization of ecosystem and natural capital accounting.
PENCAS will formalize the documentation of various environmental statistics, including the depletion, degradation, and restoration of natural capital; expenditures on environmental protection; and the pollution and quality of land, air, and water. To ensure the law’s effective implementation, the Philippine Statistics Authority Board will oversee the process, with an interagency committee assisting in addressing sectoral concerns.
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