“This will contribute to our goal of safeguarding the environment to alleviate the adverse effects of climate change and ensure an adequate supply of affordable electricity for our citizens,” Romualdez said.
Marcos has called for the expansion of the natural gas industry to diversify the nation’s energy mix and meet the increasing energy demands, while also allowing the country sufficient time for the development of renewable energy sources. HB 8456 puts forth regulatory policies and encourages the transition from fossil fuels to natural gas in existing equipment and facilities.
Furthermore, the House unanimously passed House Bill No. 8443 on third and final reading with a vote of 215. The bill aims to establish the Philippine Ecosystem and Natural Capital Accounting System . PENCAS is envisioned as a framework that considers the country’s natural capital and its impact on the economy. It entails the establishment of a system for collecting, compiling, and developing natural capital accounts within the government. This will serve as a tool for development planning, policy analysis, and decision-making.
The implementation of the measure will be a joint effort between the Philippine Statistics Authority, the Interagency Committee on Environment and Natural Resources Statistics, the Department of Environment and Natural Resources, and the National Economic and Development Authority.Subscribe to our daily newsletter
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