Forests of the Philippines
While the Dow Jones and Nasdaq falter, other marketplaces continue to thrive. For example, the European Climate Exchange and the Chicago Climate Exchange have both trumpeted solid increases in volume over the past few months. Climate exchange markets allow companies to offset the cost of their carbon emissions with investments in conservation projects. This cap and trade system has been popular in Europe for years and is now favored by the Obama administration here in the United States.
Strong climate exchange markets indicate that money will still flow to reforestation projects around the world, like the one currently under way in the Philippines. Over 43,609 hectares were reforested by the Department of Environment and Natural Resources (DENR) last year, exceeding its 2007 record of 27,838 hectares by 55 percent. DENR Secretary Lito Atienza credited President Arroyo’s efforts to expand reforestation activities in the country, especially in river basins that feed agricultural plains along the Pampanga River Basin, Bicol River Basin, Cagayan River Basin and the Laoag River Basin.
In addition to protecting and beautifying the planet, reforestation projects bring employment to rural villages. In the past, the natural resources of growing countries have been exploited by foreign groups, leaving politically disadvantaged communities devastated. Reforestation projects reverse that trend.
Reforestation also protects the habitat of endangered species, like the little rodent scientists recently discovered in the dwarf mossy forests of Mount Hamiguitan on Mindanao Island. Weighing in at a mere 75 grams (6.2 ounces), the Hamiguitan batomys has a long furry tail and a modest demeanor. These diminutive critters must be delighted by their government’s commitment to healthy woodlands.
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