Manila, Oct. 15 -- President Ferdinand R. Marcos Jr. has ordered the formulation of a national policy framework for carbon markets, designating the Department of Environment and Natural Resources (DENR) as the country's national authority for regulating participation in carbon-credit mechanisms.

Under Executive Order 127, Marcos directed the DENR to formulate the Philippine Carbon Market Policy Framework, subject to approval by the newly created Inter-Agency Committee on Carbon Markets.

The framework seeks to establish a coordinated national approach to the Philippines' participation in international and voluntary carbon markets, ensuring that carbon-credit activities align with the country's climate commitments and applicable safeguard...