Potential of a forestry carbon project for the Magbukun Ayta of Bataan, Philippines
2015
Calderon, M.M. | Bantayan, N.C. | Pulhin, F.B. | Cruz, L.J.
The paper discusses the potential of developing a forestry carbon project for the Magbukun Ayta, an indigenous cultural community in the Philippines. The feasibility of the forestry carbon project was evaluated based on technical; financial and social aspects. The results of the feasibility analysis reveal that developing a forestry carbon project for the Magbukun Ayta of Kanawan, Morong, Bataan [Philippines] is technically and financially feasible. The projected carbon loss in the ancestral domain due to possible deforestation in the old growth forests is a lot higher than expanding second growth forests and brushlands, thus creating an excellent opportunity for the community to be engaged in a forestry carbon project. The NPV and IRR at the most conservative conditions (i.e., high scenario, price of USD 5 + CO2 sup-1, and 20% discount rate) are PhP 70.728 million (about USD 1.61 million) and 27%, respectively, which show that the forestry carbon project is financially viable. The Magbukun Ayta have also expressed in a resolution that they are amenable to the possibility of being involved in a PES project, specifically on the carbon sequestration potential of their forests, making the forestry carbon project socially acceptable. Likewise, the communitys experience with implementing projects and contracts and benefit-sharing and conflict resolution mechanisms place the community in an advantageous position to implement this project. Thus, the project is socially feasible and acceptable. It is therefore recommended that the Magbukun Ayta engage in a forestry carbon project under the voluntary carbon market mechanism.
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