Pangilinan: Blue Economy Act to boost sustainable growth in Philippine seas

Senator Francis Pangilinan has filed Senate Bill (SB) 1840, or the Blue Economy Act, aiming to strengthen the sustainable development of the Philippines’ marine and maritime resources and support the livelihoods of millions of coastal fisherfolk.

Pangilinan filed the proposed measure on 11 February, which seeks to improve coordination of maritime activities, direct investments toward sustainable ocean-based enterprises, and ensure that economic gains from the seas do not compromise marine health or long-term growth for current and future generations.

Under SB 1840, a Blue Economy Council would be created to develop an integrated strategy and formulate the Blue Economy Framework, a roadmap for a diversified and sustainable ocean economy.

The framework will focus on long-term economic and social benefits, resilience to climate change, and protection of marine ecosystems.

The bill also highlights the role of government financial and regulatory institutions—including the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, Land Bank of the Philippines, and the Development Bank of the Philippines—in fostering investments and providing credit to businesses engaged in sustainable ocean-based activities.

As chair of the Senate Committee on Agriculture, Food and Agrarian Reform, Pangilinan emphasized the importance of fisheries and ocean-based industries in ensuring food security and boosting the national economy.

“The Philippines is a maritime nation. Our seas are not only a source of food but also of livelihood, culture, and national identity,” Pangilinan said.

“We must ensure that economic activities in our marine ecosystems are sustainable, science-based, and inclusive,” he added.

The enactment of the Blue Economy Act aims to balance economic development with the protection and preservation of the country’s vast marine resources.