The Climate Change Commission has recently stressed the importance of enhancing collaboration on nature-based solutions to address the impacts of climate crises by 2030.

CCC commissioner Rachel Anne Herrera underscored the importance of carbon sequestration as a fundamental aspect to reducing greenhouse gas concentrations worldwide.

Speaking at the recently concluded Pre-28th Session of Conference of the Parties or Pre-COP28 dubbed "Accelerating Collaboration on Nature to Close the Climate Action Gap to 2030" held in Abu Dhabi, United Arab Emirates, Herrera said that said ecosystems — including forests and wetlands — act as vital carbon reservoirs that stock and sequester carbon.

She added that they also serve as buffers for storm surges made more dangerous by the rising sea level and as havens for the spawning of fish to ensure food security.

"By accounting for and valuing these ecosystem services, new financial flows may be generated from carbon and biodiversity credit systems that also manage climate risks locally and globally," Herrera said.

Understanding the matter, Herrera said the Philippines is developing a "geospatial database" in support of a new system of natural capital accounting "to recognize its real economic and social contributions to sustainable development" amid confronting climate change.

She also highlighted the country's National Adaptation Plan, which provides a clear picture of climate gaps parallel to necessary actions that should be undertaken "to minimize climate change losses and damages."