00:00The government remains open to the possibility of imposing a carbon tax, provided that it
00:05does not lead to higher energy prices and instead encourages investments in environmentally
00:10sustainable initiatives.
00:12According to the Department of Finance, or DOF, the government is collaborating with
00:16the World Bank to develop a pricing framework for carbon emissions in the country.
00:20As it formulates carbon taxation policies, the DOF stressed that its technical working
00:25group is carefully assessing the potential socio-economic impact to ensure the measure
00:30remains investment-friendly, non-inflationary and well-suited to the nation's needs.
00:35Among the options on the table is carbon taxation, one of several carbon pricing instruments
00:41which involves levying a direct charge on fossil fuel carbon content or greenhouse gas
00:46emissions.
00:47Through this initiative, the DOF seeks to reinforce the Philippines' credibility in
00:51both local and global markets as a producer of reliable, high-quality carbon credits.
