CCC chairs carbon markets panel
The CCC’s chairmanship of the IACCM builds on its existing leadership functions in national climate policy and reporting.
The Climate Change Commission (CCC) welcomes its designation as chair of the Inter-Agency Committee on Carbon Markets (IACCM) under Executive Order (EO) 127, which establishes a governance framework for the Philippines’ participation in international carbon markets under Article 6 of the Paris Agreement and in the Voluntary Carbon Market.
Signed by President Ferdinand R. Marcos Jr., EO 127 institutionalizes the country’s climate change mitigation efforts and seeks to unlock international climate finance. As IACCM chair, the CCC will guide inter-agency coordination and help ensure that carbon market policies support the Philippines’ Nationally Determined Contribution (NDC), national greenhouse gas inventory, and climate transparency reporting obligations under the Paris Agreement. The Commission will also serve as the committee’s Secretariat and provide technical and administrative support.
This move supports the direction set by the Philippine Development Plan 20230-2028, particularly Chapter 15 on accelerating climate action and strengthening disaster resilience. The chapter calls for stronger collaboration with the private sector and the international community to scale up sustainable and green investments. It also advances the transition to a low-carbon economy while promoting economic growth and resilience.
“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.
The CCC’s chairmanship builds on its existing leadership functions in national climate policy and reporting. As Secretariat of the NDC Technical Working Group, the Commission supports the assessment of sectoral policies and measures against the country’s NDC. It also supports the monitoring, reporting, and verification of NDC implementation and the fulfillment of national and international reporting requirements.
Under Executive Order 174, s. 2014, the CCC serves as the overall lead agency for the Philippine National Greenhouse Gas Inventory. It coordinates and consolidates emissions data from sector lead agencies. This information provides an important evidence base for national climate policy and emissions accounting.