Financial Priority: Designing Coastal and Marine- based Payment for Ecosystem Services (PES)
The proposed Project will design a site-based PES application in one of the coastal municipality in the Philippines. The selection of the municipality will consider the presence of a resort that caters mainly to upscale tourists. The area must showcase ecosystem services which can be “bought” and “sold” on site. These ecosystem services include: aesthetics, recreational enjoyment, and beauty of the place. The management of the municipal waters is with the municipal government, which is by virtue of the Philippines-Fisheries Code and the Local Government Code.
This document was presented by the Philippine CTI NCC at the first CTI High Level Financial Roundtable in Manila on May 3, 2012.