Unlocking Philippines' natural wealth: A collaborative path to sustainable, inclusive dev't

The Philippines, endowed with abundant natural resources, stands at a pivotal moment in history, where the responsible and sustainable utilization of these assets can drive inclusive economic growth and development. 

The Philippines must strategically rethink its options. This would require sustained political commitment to promote responsibility and cooperation that are shared equitably. The decisions we make today will resonate through generations and reverberate through every level of our economy.

The country’s development necessitates substantial shifts in policies and approaches, urging a proactive stance on risk reduction in investments. The convergence of natural and human-induced hazards, exacerbated by climate change and global warming, presents a tangible risk. This extends beyond environmental considerations, as it puts food, energy, and water security, along with the livelihoods, jobs, and well-being of Filipinos at an uncertainty.

Acknowledging the pivotal role of the private sector as the driving force behind our economic growth and development, the government should actively promote private sector participation in initiatives and projects related to climate change mitigation, adaptation, and strategic investments in industries like water, mining, and forestry. There are numerous opportunities in these industries that will yield substantial results.

A similar message was also shared by the Department of Environment and Natural Resources (DENR) officials, Secretary Maria Antonia Yulo-Loyzaga and Undersecretary Carlos Primo "CP" David, during the recently held Stratbase-organized Pilipinas Conference 2023 with the theme, “The Path Towards Economic Security: Turning Global Risks into Opportunities.” 

During the session on “Unlocking Philippine Natural Wealth: Sustainable Utilization of Resources for Economic Prosperity,” they underscored the urgency and significance of harnessing the country's water, mineral and forest resources.

Secretary Yulo-Loyzaga's vision for the Philippines is one of strategic planning and inclusive development. She announced that they would list priority investment areas for minerals, forestry, water, and terrestrial coastal