Metro Manila (CNN Philippines, February 14) — The Philippine economy must be revamped to take on an economic model based on sustainable consumption, the National Economic and Development Authority (NEDA) said on Monday.
In a forum for the 2023-2028 Philippine Development Plan (PDP), Socioeconomic Planning Secretary Arsenio Balisacan said changes in the country’s production and consumption process are needed to sustain growth that would not be at the expense of the environment.
“To achieve transformation, we must introduce systematic changes to our consumption and production patterns, as well as manage our natural capital resources, if we are to sustain a well-functioning and resilient economy,” Balisacan said.
The forum focused on accelerating climate action and strengthening disaster resilience.
Balisacan highlighted the plan’s main course of action which is outlined in the Philippine Action Plan for Sustainable Consumption and Production (PAP4SCP) and the Natural Capital Accounting (NCA), a roadmap to implementing a system which values natural resources.
“To make sure we are fully aware of the environmental impact of our economic activities, we must measure and properly account for the use of our natural resources,” he said.
Meanwhile, NEDA Undersecretary Rosemarie Edillon said the PAP4SCP and the NCA are “integral” in reaching PDP goals for the country’s Ambisyon Natin 2040 plan.
Signed in January, the executive order for PDP 2023 to 2028 directs all government agencies and offices to adopt a six-year plan to accelerate economic recovery.
