Department of Agriculture (DA) will help enhance nationwide coconut production not only for increased yield but to also generate for the country some P47 billion in carbon trading revenues from this crop’s capability to sequester carbon dioxide (CO2), one of the greenhouse gases (GHGs) experts identified as driving climate change.
DA Secretary Proceso Alcala assured such support, noting studies show a hectare of coconut land can sequester some 17.54 tons of CO2 per year.
“That’s about P14.7 million per 1,000 hectares,” he said Monday in Metro Manila during the Asia-Pacific Economic Cooperation (APEC) symposium on climate change, citing available valuation under the Clean Development Mechanism (CDM) of the Kyoto Protocol.
The Philippines conducted such symposium to fulfill one of its commitments in the APEC Action Plan on Food Security.
Alcala noted the country has some 3.2 million hectares of coconut land which represents a potential carbon sink.
Carbon sinks are natural or artificial reservoirs of carbon.