The Philippines will increase its coconut tree population by a staggering 100 million over the next five years.
This will enhance the nation’s agricultural landscape and presents a unique opportunity for Member States of the United Nations Framework Convention on Climate Change (UNFCCC) to invest in sustainable development and combat climate change.
3 Types of Coco Fruits
1. Natural Fruits
From the refreshing buko juice to the versatile copra used in various products, these natural fruits have long been staples in the Philippine economy. The increased coconut tree population promises a boost in production, providing economic sustenance to local communities.
2. Industrial Fruits
Beyond the traditional uses, coconut trees contribute significantly to industrial sectors. The extraction of coconut nectar and distillation into lambanog, a traditional Filipino alcoholic beverage, is just one example. Additionally, coconuts can be processed into coconut boards, activated carbon, and nata de coco, all of which enhance value. The expansion of coconut cultivation stands to diversify the country's economic portfolio and foster innovation.
3. Civil Fruits
Coconut benefits extend beyond tangible products to civil fruits, encompassing revenue streams such as ecotourism ventures and carbon sequestration offsets. With ecology taking center stage globally, carbon sequestration has become a vital aspect of sustainable development.
Valuation Over a 25-Year Period
The economic value of the natural and industrial fruits can be readily assessed based on historical and projected market prices. However, revenues from civil fruits, particularly carbon offsets, introduces a dynamic dimension.
The social cost of carbon (SCC) currently stands at $51 USD per metric ton. The SCC is expected to rise as the world approaches critical climate deadlines in 2030, 2040, and 2050.
At a density of 143 of coconut trees per hectare, 100 million coconut trees will require 699,300 hectares. According to a 2009 research paper published by UP Los Banos, each hectare can sequester 12.81 metric tons of carbon dioxide (tCO2) annually.
Given these parameters, civil fruits from 100 million mature coconut trees can reach $9 billion USD over a 20 year period:
● 699,300 hectares x 12.81 tCO2/ha/year is 9 million tCO2 per year.
● 9 million tCO2 per year in 20 years yields 180 million tCO2.
● 180 million tCO2 at $51 USD per tCO2 totals $9 billion USD
A Call to Action
The Philippine program to plant 100 million additional coconut trees presents an opportunity for UN Member States to invest a total of $1 billion USD, a mere $10 per tree, and secure a share of the carbon rights for the next two decades.
This initiative underscores the Philippines’ dedication to sustainable development and climate resilience. UNFCCC Member States are encouraged to recognize the potential economic and environmental benefits of investing in the expansion of coconut cultivation.
READ ALSO: PCA Plans to Grow 100M Coconut Trees by 2030
By contributing a modest amount per coconut tree, Member States can not only support a greener future but also gain access to valuable carbon rights for the next 20 years. The initial growing period of 3-5 years, preceding maturity, offers an ideal window for investment.
