The governments of the Philippines and Australia collectively have launched a new project, The Capturing Coral Reef and Related Ecosystem Services (CCRES), that aims to quantify the market value of the Country’s coral reef and mangroves, also known as ‘natural blue capital’. The study will be research based, focused on the effects of services provided by healthy coral reef and mangrove ecosystems. The director of the Biodiversity Management Bureau, Theresa Mundita Lim, said “The project will help us convince stakeholders that the environment is a good investment as it benefits the communities,” Lim said. The project will start in the El Nido region of the Philippines, a protected area which covers over 140 square miles. Hopefully this project will be succesful in leading the way for sustainable enterprises that can lesson climate change effects and protect our reefs.
