Republic Act No. 11995, Philippine Ecosystem and Natural Capital Accounting System Act

Republic Act No. 11995, the Philippine Ecosystem and Natural Capital Accounting System Act, establishes an internationally recognized environmental and economic accounting framework. The law's accounting framework includes:

• Official statistics on natural capital depletion, degradation and restoration
• Environmental protection expenditures
• Land, air and water pollution and quality
• Environmental damages

The law aims to:

• Support economic, environmental, and health policy development and decision-making.
• Provide a system for the collection, compilation, and development of physical and natural capital accounts in the government as a tool for physical and development planning and programming, policy analysis, and decision-making.
• Serve as a comprehensive data framework in the generation of natural capital statistics and accounts towards their progressive integration in macroeconomic indicators.
• Provide tools and measures that contribute to the protection, conservation, and restoration of ecosystems.
• Provide valuation of ecosystem services such as provisioning, regulating and maintenance, and cultural services.