A bilateral partnership is being hatched between two original ASEAN member countries – Indonesia and The Philippines – is centered on a major reforestation project deemed to catalyze net zero and carbon market development in the Southeast Asian Region.
An off-shot of a meeting on reforestation partnership by the ASEAN Business Advisory Council (ASEAN-BAC) held early this year (2023), it identified Indonesia and The Philippines as both countries have significant forest resource. The two countries make them among the biggest oxygen producers in the region. Indonesia alone has 91.2 million hectares of forest land while the Philippines has 23.3 million hectares.
The vast forest resources of the two ASEAN-Member countries present a major reforestation partnership to the global aim for a net zero and carbon neutrality to attain the carbon credit – with a carbon market reaching $50 billion by year 2050 with the ASEAN region being well positioned.
While the Indo-Phil reforestation partnership is being refined, finalized, a memorandum of understanding (MOU) is being crafted to be tackled by the ASEAN leadership meeting in September 2023. The partnership expects to commence upon approval, signing of said MOU.
MY COMMENT:
The Indonesia-Philippine reforestation partnership is a well-thought of effort to adhere to the mandate on Climate Change conceptualized during the Paris convention as well as previous and succeeding fora to protect mother earth from calamities pestering mankind and the Planet. I still believe that knowledgeable and science-founded people are involved in the partnership. Indeed, effects of Climate Change is real, imminent!
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