THE Climate Change Commission (CCC) is taking the helm of the newly formed Inter-Agency Committee on Carbon Markets (IACCM), following the signing of Executive Order 127 by President Marcos.
The breakthrough order sets up a clear, solid game plan for the Philippines to tap into global carbon trading under Article 6 of the Paris Agreement, as well as the Voluntary Carbon Market-opening the floodgates for fresh international climate finance and green investments.
Under EO 127, the CCC will serve as both chairman and secretariat for the IACCM, guiding multi-agency strategy, technical support, and day-to-day operations. Joining the CCC on this powerhouse panel are: the Department of Finance (DOF) as vice chairman with the Department of Environment and Natural Resources (DENR), Department of Energy (DOE), Department of Agriculture (DA), Department of Transportation (DOTr), Department of Trade and Industry (DTI), and the Securities and Exchange Commission (SEC) as members.
Together, the committee will roll out clear guidelines for carbon projects-covering everything from eligibility and credit issuance to benefit-sharing, safeguards, and tracking registries.
‘Carbon markets can help advance these goals by providing an additional channel for private capital and international climate finance. Credible carbon projects can support emissions reduction and other climate solutions. Clear rules and reliable accounting will help protect environmental integrity and give investors greater certainty,’ said CCC Vice Chairperson and Executive Director Robert E.A. Borje.
This initiative directly aligns with Chapter 15 of the Philippine Development Plan (PDP) 2023-2028, aiming to boost disaster resilience, accelerate climate action, and transition to a low-carbon economy.
Here is what the new setup delivers across the board:
For investors and developers: Clear rules and predictable approval processes mean lower risks and greater confidence when funding green projects.
For local communities: Strict safeguards and fair benefit-sharing guidelines ensure local interests are protected and community gains are real.
For the Government: Streamlined coordination prevents double-counting of carbon credits and guarantees that market activities align with the country’s Nationally Determined Contribution (NDC) targets.
As the main coordinator for the national greenhouse gas inventory (under EO 174) and lead agency for the Paris Agreement’s Enhanced Transparency Framework, the CCC already manages the vital emissions data needed to make carbon trading credible and accountable.
‘As chairman of the Inter-Agency Committee on Carbon Markets, the CCC supports President Marcos’s vision to ensure that carbon market participation advances our national climate goals and public interest,’ Borje also said.