Blue Economy bill passed
THE SENATE on Monday approved on final reading a bill that seeks to create a framework for a blue economy and another allowing the United Nations (UN) Loss Damage Fund (LDF) Board to operate in the country.
Senators unanimously approved Senate Bill No. 2450, which will set up a framework to preserve and sustain the Philippines’ ocean-based resources. The blue economy is an economic model seeking the sustainable use of ocean resources through green infrastructure and technology.
Under the measure, the government will draft a plan to manage marine and coastal resources to cut land and sea-based pollution and overfishing.
“It embodies our commitment to conserve, protect and prosper in harmony with our marine environment,” Senator Lorna Regina “Loren” B. Legarda, who sponsored the bill, said in a statement.
Lawmakers also approved Senate Bill No. 2780, which sets up the UN LDF Board and allows it to buy assets, land and enter into agreements in the country. — John Victor D. Ordoñez