Philippines

BIOFIN started in the Philippines in 2014, implemented by the United Nations Development Programme (UNDP) in partnership with the Biodiversity Management Bureau (BMB) of the Department of Environment and Natural Resources (DENR). Under the project, the financial needs for implementing the Philippine Biodiversity Strategy and Action Plan (PBSAP) were assessed for the period through 2028.

Currently, the Philippines is implementing several biodiversity finance solutions involving national agencies, local government units, the private sector, civil society organizations, and citizens to mobilize resources for the PBSAP.

The Philippines is one of the world’s 17 megadiverse countries, with 228 recognized Key Biodiversity Areas that are home to 855 globally important species of flora and fauna. The benefits and ecosystem services provided by biodiversity are critical, as many Filipinos depend directly on them for their livelihoods and well-being. It is therefore imperative to implement strong conservation measures, which is the aim of the PBSAP 2015–2028.

To implement the PBSAP, approximately US$530 million is required annually. However, current spending on biodiversity is only about US$100 million per year, leaving an 80% financing gap. BIOFIN helps identify, access, combine, and sequence diverse sources of biodiversity funding to meet national priorities and targets.

Key Results

BIOFIN has mobilized:

USD$ 10 million for 107 legislated protected areas by advocating for increased financing at the House of Representatives
USD$ 300,000 for reforestation by partnering with Mynt, creator of GCash and the biggest mobile wallet in the country, through its GCash Forest app and the Corporate Social Responsibility program of partners such as the World Wildlife Fund (WWF)
Php 1.6 million (USD$ 32,000) through the Together for Tamaraws Crowdfunding Campaign for conservation communities affected by the COVID-19 pandemic
USD$ 60,000 allocation at the Provincial Development and Physical Framework Plan 2020-2022 for Negros Oriental’s proposed priority biodiversity programs and activities
Php 20 million (USD$ 400,000) from 2020-2022 for Negros Occidental province’s Southwestern Negros Key Biodiversity Area (KBA)

BIOFIN had the following policies officially adopted:

Biodiversity Management Bureau Technical Bulletin 2021-05 Guide in the Formulation of Local Biodiversity Strategy and Action Plan
Department of Environment and Natural Resources Administrative Order 2022-04 Enhancing Biodiversity Conservation and Protection in Mining Operations
Joint Declaration among the Department of Environment and Natural Resources, Department of Tourism and Department of the Interior and Local Government in support of the celebration of the Year of the Protected Areas campaign

BIOFIN also worked on the following:

Three biodiversity indicators proposed for inclusion in the Department of Interior and Local Government (DILG)’s criteria for the Seal of Good Local Governance, a local governance performance metrics. This means that LGUs will have to include biodiversity activities in their regular programs to be able to qualify as recipients of the Seal
Four (4) tourism products for marine protected areas in Mindoro Oriental and 3 tourism products for Sibalom Natural Park
Capacity-building training for NGO partners in engaging the private sector and for protected area staff that yielded favorable results i.e., firm commitments from several private sector representatives and Protected Areas Finance Plans (PAFP) with corresponding Investment Programs. The BMB-DENR further committed to including the PAFP development module in their PA Academy curriculum and using it to improve the existing PA management plan preparation process

Stories

SEE ALL

Finance Solutions

PUBLIC SECTOR

Improved Biodiversity Expenditure

Department of Environment and Natural Resources (DENR) Bureaus

Other National Government Agencies (NGAs)

Alignment of environmental trust funds with the PBSAP

Mainstreaming Biodiversity in DENR Regional Programs

Budgets for DENR Regional biodiversity programs

Mainstreaming Biodiversity in Local Government Units (LGUs)

```
LGU budgets
```
```
Synergy with national programs
```
```
Environmental fee system
```
```
Accessing Energy Regulation (ER) 1-94
```
```
Optimizing the GAD budget
```

Seal of Good Local Governance (SGLG) biodiversity-related indicators

```
Subsidies
```

PRIVATE SECTOR

Involving the citizenry

```
Crowdfunding
```

Sales from gaming application & peripherals

Involving the private sector

```
Private sector engagement i.e., CSR
```
```
Digital Platform
```
```
Policy in PPP for Protected Areas
```
```
Non-Fungible Tokens (NFTs)
```
```
Nature-related financial disclosures
```

PUBLIC + PRIVATE SECTORS

Increasing investments in Protected Areas

Developing an Investment Program for Protected Areas

Year of the Protected Areas (YoPA) Campaign (2022)

```
Month of the Protected Areas (MoPA)
```

SUPPORT TO POLICY

2018-2025

DAO 2019-05 ENIPAS Implementing Rules and Regulations

HB 9143 or the Philippine Genetic Resources and Access and Benefit-sharing (PGRABS)

DA-DENR SO 2023-01 Creating the National Oversight Committee and Regional Technical Working Groups for the Implementation of Biodiversity-friendly Agricultural Practices (BDFAPs) in Protected Areas and Wider Agricultural Landscapes

House Bill 8299 or An Act to Institutionalize the Tamaraw Conservation Program, creating its Administrative and Implementation Mechanism, Providing Funds Therefore and for Other Purposes

DAO 2022-04 Enhancing Biodiversity Conservation and Protection in Mining Operations

2021 - Present

DAO on the Guidelines on Private Sector Engagement for Biodiversity Conservation

Guidelines for PPPs in Conservation Tourism within Protected Areas

```
Month of the Protected Areas (MoPA) 
```
```
DAO on SGLG 
```
```
DAO on Forest Carbon Credits 
```

STUDIES

Creation of a new conservation trust fund

Compilation and Synthesis of Existing Valuation Studies on Philippine Biodiversity

Nature-positive Impact Investing for Nature-based Solutions and Enterprises for the Development Bank of the Philippines

The Philippine Mining Industry: Leveraging Resources to Improve the Outcome of Biodiversity Objectives in the Country

Scoping Study on Private Sector Engagement Strategy to Accelerate Biodiversity Financing in the Philippines

Development of a Shared Language for SDGs 14 and 15

Is the Philippines Ready for Nature-Related Financial Disclosures? An assessment of global trends, reporting frameworks, institutions, and state of practice

Agricultural Practices and Agricultural Programs as Applied in Ecologically Sensitive Hilly Lands: Environmental Footprints, Drivers, and Strategic Recommendations

Update on the Compilation and Synthesis of Existing Valuation Studies on Philippine Biodiversity

Present

Coral Reef Vulnerability Data for Developing Marine Protected Areas (MPAs) Insurance in the Philippines

```
Policy Study on Biodiversity Credits
```

Key Documents

Policy and Institutional Review (PIR)

Results of the PIR showed that while Philippines has several laws and policies in place for biodiversity, there is still a need to address those with negative impact and promote those with positive impact on biodiversity conservation and restoration. Resource mobilisation opportunities from selected policies such as the Energy Regulation 1-94 as amended; Malampaya Fund; Motor Vehicle User’s Charge; Mining Taxes & Royalties and Fees from Mining were examined.

Expenditure Review (BER)

From 2008-2013, the baseline financing for biodiversity was estimated at Php 5B (USD 110 million) among national agencies contributing to the 20 Aichi Targets, non-core agencies, and local governments. This represents 0.08% of GDP and 0.31% of the national budget for this period of analysis. Within this period, the budget of the Department of Environment and Natural Resources (DENR) was observed to be increasing at the rate of 23% per year. The biodiversity budget has been increasing at a faster rate of 34% per year for the same period, although its contribution to total budget is less than 20% of the total. Increase in funding can be realised by realignment of budgets coupled with effective mainstreaming among core and non-core biodiversity agencies. Comprising an average of 4% of the 20% development fund representing share of national taxes, local governments contribute Php 0.5B (USD 13 million) based on protected areas expenditures alone.

Philippines Biodiversity Expenditure Review (BER)

Needs Assessment (FNA)

The total estimated cost of implementing the PBSAP from 2015-2028 ranged from PhP334 billion or USD 7.4 billion (low) to PhP388 billion or USD 8.6 billion (high) with an annual requirement of Php 23.9 billion (USD 530 million). The projected appropriations of the government agencies for this period is only USD 1.5 billion versus the USD 4 billion estimated cost of activities identified in the PBSAP.

Philippines Financial Needs Assessment (FNA)

Finance Plan (BFP)

BIOFIN’s Finance Plan is targeting to raise PhP20 billion by 2020 by implementing the following solutions: a) consolidation, mainstreaming, and formalising the PPBER process through biodiversity tagging; b) increasing funding of local governments through realignment, increased access to earmark funds, or generation of revenues on site; and c) private sector engagement.