The Philippines is one of five countries selected for the Asian Development Bank (ADB) and Stanford University’s Natural Capital Project’s People, Planet, Prosperity (3Ps) initiative. This collaboration aims to co-develop natural capital approaches that directly inform policy and investment decisions in ADB member countries, to secure and enhance each nation’s natural capital to support sustainable development.
ADB highlights that natural capital approaches help make the benefits of nature clear and measurable, ensuring they are incorporated into policy and investment decisions. By doing so, these approaches encourage investment in ecosystems, ultimately improving the well-being of both people and nature.
In addition to the Philippines, the 3Ps pilot project includes Armenia, the People’s Republic of China, the Cook Islands, and Sri Lanka. These countries, alongside multilateral development bank leaders, local government partners, and experts, are working together to tailor natural capital strategies for their specific needs, focusing on priority policy and finance decisions.
The ADB underscores that these pilot countries are not only refining technical capabilities but also building policy frameworks and institutional capacity across governments and relevant organizations for the long-term integration of natural capital approaches into their development plans.
As part of this effort, ADB has organized a three-part webinar series to share lessons learned from the pilot countries and explore how to scale these approaches globally. The series will focus on advancing the understanding of natural capital’s role in development planning and decision-making.
ADB also intends to institutionalize natural capital assessments as a key element in upstream development planning to better inform downstream investments, policies, and actions. The bank is committed to providing operational support and financing opportunities to help member countries mainstream natural capital approaches into their policies.
The webinar aims to:
- Provide insights into how natural capital approaches can be integrated as a vital component of development planning.
- Showcase how natural capital assessments were developed in the Philippines and Sri Lanka pilot projects to produce policy-relevant data.
- Share key lessons learned from the analytical and capacity-building aspects of the projects.
- Explore how natural capital approaches can be integrated within ADB operations and across its member countries.
The webinar invites stakeholders from various sectors, including:
- Government and intergovernmental organizations
- Multilateral and bilateral development institutions
- Private firms involved in agriculture and the food business
- Research and development institutions, think tanks, and centers of excellence
- NGOs, civil society, and advocacy organizations, as well as other individuals and organizations engaged in agriculture, natural resources, and rural development.
By fostering collaboration and knowledge-sharing, the 3Ps project aims to build a global movement to integrate natural capital into policy and investment strategies, ensuring a more sustainable future for all.
