The Philippines, along with Indonesia and India, has the highest potential for decisive mangrove action in Asia, ranking 2nd next to Indonesia. However, in terms of financial capacity and investors’ confidence, it ranks below most Asian countries, falling 11th of 17th, a new regional report revealed.
The Regional Readiness Reports map regional trends, threats, as well as conservation and restoration potential, and show the far-reaching impacts of climate, biodiversity, and sustainable developments in nations with high mangrove cover.
Produced by the Global Mangrove Alliance and the Mangrove Breakthrough, the Regional Readiness Reports map regional trends, threats, as well as conservation and restoration potential, and show the far-reaching impacts for climate, biodiversity, and sustainable development in nations with high mangrove cover.
‘These reports answer the critical question of where and how we can most effectively accelerate mangrove action,’ said Irene Kingma, Wetlands International. ‘They point funders and decision-makers to opportunities and to places and partners ready to move.’
According to the Regional Readiness Reports, Asia is home to the largest areas of mangroves in the world, totaling 58,236 km2 distributed across 18 countries: Indonesia, Myanmar, Malaysia, India, Thailand, Philippines, Vietnam, Pakistan, Bangladesh, Cambodia, China, Sri Lanka, Brunei, Singapore, Timor-Leste, Taiwan, the Maldives and Japan. This is around 40% of the 150,000 km2 of mangroves remaining globally in 2020, according to Global Mangrove Watch.
The report said the Philippines has 230.78 km of restorable mangrove area, second only to Indonesia with 2,032 km. India is 3rd with 179 km.
In terms of financial stability and investor confidence, the Philippines ranked 11th while India is 6th, and Indonesia, 9th.
Topping Asian countries with the highest financial investor confidence is Singapore, followed by Japan and Malaysia.
‘Mangroves store up to four times more carbon than tropical rainforests, shield coastal communities from rising seas and storms, and provide vital habitat for over 340 threatened species. Yet, over 50% of their original extent has already been lost, and efforts to conserve and restore them remain severely underfunded,’ the report revealed.
To close this gap, Mangrove Breakthrough partners are mobilizing $4 billion in public, private, and philanthropic finance to halt mangrove loss, restore half of degraded mangroves, and double their protection by 2030. These Regional Reports translate its Finance Roadmap into tangible, high-impact investment opportunities across the three critical regions.
‘The Regional Readiness Reports are blueprints to help donors, financial institutions, governments and NGOs align their resources and commitments-advancing the Mangrove Breakthrough into its next phase, driving system-level change across target regions, and delivering tangible benefits for frontline coastal communities and ecosystems’, added Ignace Beguin, Director of the Mangrove Breakthrough.
The report noted that Asia is home to around 40% of the world’s remaining mangroves. With 3,927 km² of restorable mangroves, the region could deliver nearly half (47%) of the global Mangrove Breakthrough restoration target. Around 27% of mangroves in Asia are under some form of formal protection. Due to the globally significant mangrove area in Indonesia, doubling protection levels there would realize more than half of the Mangrove Breakthrough’s regional goal. Across Asia, conversion of mangrove forests to shrimp aquaculture ponds and agricultural plantations is the largest driver of loss, and resolving land tenure is the most common barrier to effective action.
In the Philippines, mangroves are recognized as highly protected nature-based solutions to climate change, the Climate Change Commission (CCC) said.
Several mechanisms aimed at the protection, preservation, and rehabilitation of Philippine mangrove systems were developed, including legislation and key documents.
Initial statistics reveal that the Philippines had 450,000 hectares of mangrove forests in 1920. By 1990, this decreased to 317,500 hectares, and in the most recent statistics, it decreased further to 311,400 hectares, the CCC said.
Despite the significant reduction of mangrove forest coverage over the past century, the Philippines remains home to numerous mangrove sites, citing the Ramsar Sites in various parts of the country, which are recognized for their international importance.