INQUIRER PHOTO / NINO JESUS ORBETA
MANILA, Philippines—Speaker Ferdinand Martin G. Romualdez assured the public on Thursday that the House of Representatives is making significant strides toward fulfilling its commitment to pass the remaining nine out of the 44 urgent measures outlined by the Legislative-Executive Advisory Council (Ledac).
This development came after the House of Representatives gave the green light to House Bill No. 8456 and House Bill No. 8443 on Wednesday night, accomplishing two out of the nine Ledac priority bills in just two weeks since the start of the 2nd Regular Session of the 19th Congress.
“The approval of these twin measures manifests our firm commitment to the passage of the remaining Ledac priority measures in line with the Agenda for Prosperity of President Ferdinand R. Marcos, Jr.,” Romualdez said.
House Bill No. 8456, known as the Philippine Downstream Natural Gas Industry Development Act, was approved with an overwhelming vote of 215 against 3. The bill aims to establish the Philippine Downstream Natural Gas Industry to promote natural gas as a “safe, environment-friendly, efficient, and cost-effective source of energy.”
“This will contribute to our goal of safeguarding the environment to alleviate the adverse effects of climate change and ensure an adequate supply of affordable electricity for our citizens,” Romualdez said.
Marcos has called for the expansion of the natural gas industry to diversify the nation’s energy mix and meet the increasing energy demands, while also allowing the country sufficient time for the development of renewable energy sources. HB 8456 puts forth regulatory policies and encourages the transition from fossil fuels to natural gas in existing equipment and facilities.
Furthermore, the House unanimously passed House Bill No. 8443 on third and final reading with a vote of 215. The bill aims to establish the Philippine Ecosystem and Natural Capital Accounting System (PENCAS).
PENCAS is envisioned as a framework that considers the country’s natural capital and its impact on the economy. It entails the establishment of a system for collecting, compiling, and developing natural capital accounts within the government. This will serve as a tool for development planning, policy analysis, and decision-making.
The implementation of the measure will be a joint effort between the Philippine Statistics Authority, the Interagency Committee on Environment and Natural Resources Statistics, the Department of Environment and Natural Resources, and the National Economic and Development Authority.
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