Press Release
November 22, 2023

Manifestation on the PENCAS bill
By Senator Pia S. Cayetano
Chairperson, Senate Committee on SDGs, Innovation, and Futures Thinking

Mr President, just a short statement.

As the Chairperson of the Committee on Sustainable Development Goals, Innovation, and Futures Thinking, I have manifested my support from the very beginning for this PENCAS (Philippine Ecosystem and Natural Capital Accounting System (PENCAS) bill.

We need to ensure that sustainability does not remain a concept. It needs to be embodied in every important agency in our government, particularly the finance agencies and the budgeting agencies. Sustainability needs to be something that all our accountants, all our technical staff, understand.

This bill paves the way. It is quite technical, and it will take time for many of us to understand every detail of what is intended to be achieved here. But this is a step in the right direction, and we congratulate the sponsor (Senate President Pro Tempore Loren Legarda) and, of course, the Economic Affairs Chairman (Senator Grace Poe) as well, for giving priority to this bill.

Thank you, Mr President.

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