Philippines’ renewable energy (RE) projects such as the Bangui wind plant in Ilocos Norte have benefited from carbon credits from UNFCCC-initiated agreements.
LGUs and other entities may earn new financing from a program being introduced by UNFCCC negotiators called the REDD Plus (Reducing Emissions from Deforestation and Forest Degradation).
The original carbon credits gave financing for projects that reduce emissions of carbon dioxide and other greenhouse gases.
The REDD Plus is specifically targeted at giving potential financial incentives for reducing deforestation. It is expected to be approved by the end of the year.
Fuelwood in general is extensively used not only in Filipino households but in small rural businesses such as bakeries and restaurants based on a study.
However, this has caused massive forest degradation through a highly destructive technique kaingin (burning of forests).
It was estimated that the country’s charcoal consumption is two to four million metric tons yearly. For total fuelwood (including freshly gathered wood) and charcoal, estimated yearly consumption is 25 to 35 million metric tons yearly.
Charcoal production from waste materials can reduce forest degradation. Studies indicated much of forest destruction is due to the need for cooking fuel. For instance, in Cebu, cutting of trees wasted noted to e a major cause of deforestation particularly of primary forests.
“The province of Cebu is now in the stage where firewood is becoming scarce. The situation is so severe that the remaining forest resources are exploited at least three times their sustainable yield,” according to a DENR report.