Category: The Philippines

Financing Blue Carbon with Insurance

Mangroves in the Philippines. Photo by Esther Anne F. Bueno.

The Restoration Insurance Service Company (RISCO) is an innovative finance project aimed at investing in blue carbon in marine and coastal ecosystems, particularly in the Philippines. The project is part of the Global Innovation Lab for Climate Finance and aims to protect 4,000 hectares of mangrove forest through conservation and restoration efforts in partnership with local communities.

RISCO’s innovative approach involves identifying areas where mangroves provide high flood reduction benefits and modeling the value of those benefits.

This innovative finance project highlights the potential for financial solutions to address environmental challenges, such as the protection and restoration of mangrove ecosystems. By partnering with local communities and generating revenue from blue carbon credits, RISCO aims to create a sustainable model for mangrove conservation and restoration.

Learn more here.

UNESCO World Heritage Site: Mt Mantalingahan, Philippines

Mt. Mantalingahan Protected Landscape. Photo by Jeanne Tabangay.

Today and in the next blog post, I am going to share about UNESCO World Heritage Sites in the Asia-Pacific region: Mount Mantalingahan Protected Landscape in Philippines and Lagoons of New Caledonia.

What do you need to know about Mount Mantalingahan Protected Landscape? Below are some excerpts from the UNESCO World Heritage Convention site and references from Conservation International:

  • The protected landscape declared as the protected area in Palawan through Presidential Proclamation 1815 signed on June 23, 2009. It covers a total area of 120,457 hectares within the territorial jurisdiction of the municipalities of Bataraza, Brooke’s Point, Quezon, Rizal, and Sofronio Espanola.
  • The peak of Mt. Mantalingahan towering at 2085 meters above sea level is the highest peak in the province and considered sacred by the indigenous Palawan people.
  • The mountain’s substantial forest cover plays an important role in absorbing and storing carbon. Like many forests in this region, it faces considerable threats — including illegal logging and wildlife poaching, conversion to agricultural land, mangrove loss and unsustainable mining.
  • Mount Mantalingahan provides more than US$ 5.5 billion in ecosystem services to people. It is a key biodiversity area where new species are still being discovered.
  • It holds over half its original forest cover and provides an essential watershed for the 200,000 people that depend upon it