The Philippines has issued a framework for carbon credit trading, paving the way for future Article 6 collaborations. Before its release, private firms had already launched voluntary carbon projects. (Photo: ACEN)
The Philippines has issued a framework policy for generating, managing, and monitoring carbon credits in the energy sector. The guidelines align the country with Article 6 of the Paris Agreement, paving the way for bilateral and multilateral carbon trading.
Building the foundation for carbon market participation
Published on Oct. 10, the Department Circular aims to help energy stakeholders, especially the private sector, access carbon finance and prepare for emerging carbon market mechanisms.
Under the framework, a Task Force on Energy Carbon Credits (TFECC) will coordinate actions across the energy sector. Each Carbon Credit Certificate (CCC) represents one metric ton of CO₂ equivalent reduced.
