The Philippines.
BLUE READY
Implementation Ready and Building Momentum
BLUE INNOVATOR
Implementation Ready and Accelerating Progress
National Snapshot.
The Philippines is demonstrating strong leadership in ocean sustainability through the enactment of the Blue Economy Act in 2024, which establishes a comprehensive framework for revitalizing its ocean economy.
The Act addresses key challenges such as overfishing and marine pollution, and promotes integrated management, research, financing, and climate adaptation. It reinforces existing initiatives in marine conservation and blue finance, while also laying the groundwork for more inclusive development across social, human, and physical capital domains.
With clear strategic direction, institutional capacity, and growing momentum, the Philippines is implementation-ready and profiled as Blue Ready, well-positioned to scale its blue economy efforts for long-term impact.
Implementation Progress
Implementation Progress
Building momentum
Reflecting its commitment to sustainable ocean governance, the Philippines has taken a significant legislative step forward by enacting the Blue Economy Act in 2024 (Senate Bill No. 2450). This landmark legislation establishes a comprehensive framework for revitalizing the country’s ocean economy, addressing critical challenges such as overfishing, marine pollution, coastal erosion, and climate change. The Act promotes the sustainable use of ocean resources to drive inclusive economic growth, enhance coastal livelihoods, and safeguard marine ecosystems. It integrates key components including marine and coastal management, environmental-economic accounting, research and financing, climate adaptation and mitigation, and circular economy principles (Senate, 2024).
The policy framework outlined in the Act aims to deliver long-term economic and social benefits while fostering resilience and ecological integrity. It emphasizes cross-sectoral and stakeholder collaboration, inclusive value chains, and regional cooperation to maximize the potential of the Philippines’ ocean and inland water resources (SB 2450). The legislation also supports the development of a diversified ocean economy and aligns with national and international sustainability agendas.
The enactment of the Blue Economy Act has strengthened existing initiatives in marine conservation, blue finance, and sustainable marine transport. Notable progress includes BDO’s issuance of a US$100 million Blue Bond in 2022, contributing to clean water preservation and pollution mitigation. These efforts have elevated the Philippines’ standing in both financial and natural capital domains of blue economy development.
Explore how The Philippines is positioned for each of the
Blue Economy Capitals.
Financial
Capital.
Financial Capital.
The Philippines has emerged as a regional leader in advancing blue finance and ocean accounting to support its blue economy development. Alongside Indonesia, it has made significant strides in mobilizing private and public capital for sustainable marine initiatives. In 2022, BDO Unibank issued Southeast Asia’s first private-sector blue bond aligned with IFC’s Blue Finance Guidelines, raising US$100 million to support clean water and marine pollution reduction projects. The bond has already delivered measurable impact, including improved water access, reduced groundwater extraction, and enhanced wastewater treatment across several provinces (BDO, 2024).
Building on this momentum, the Securities and Exchange Commission (SEC) issued formal guidelines in 2023 (Memorandum Circular No. 15) to standardize blue bond issuance, defining eligible projects such as ecosystem restoration, sustainable fisheries, and aquaculture (REF, 2024). In response, Maynilad Water Services issued its own blue bonds to finance water and wastewater infrastructure across Metro Manila and Cavite, further demonstrating the growing role of domestic financial institutions in advancing blue economy goals. (Maynilad, 2024).
In addition to private-led initiatives, the Philippines benefits from international support through programs like the Climate and Ocean Adaptation and Sustainable Transition (COAST) and the Global Fund for Coral Reefs, under the UK’s Global Blue Planet Fund. These programs contribute to marine conservation, climate resilience, and poverty reduction (Government of UK, 2024).
In parallel, the Philippines has been a regional leader in ocean accounting. The Philippine Statistics Authority (PSA), building on earlier efforts by the National Statistical Coordination Board, has developed the Philippine Ocean Economy Satellite Accounts (POESA) to quantify the contribution of ocean-based industries to national development. Since 2009, POESA has expanded its coverage to include a wide range of ocean-related services. Provisional estimates were published for 2012–2018, with 2019 data later shared publicly. In 2023, the ocean economy was valued at PhP 962.49 billion, and in 2024, it rose to PhP 1.01 trillion—a 4.7% year-on-year increase. Ocean-based activities contributed 3.8% to GDP at current prices and employed 2.39 million people, accounting for 4.9% of total national employment. Although this represented a slight decline from 2023’s 2.42 million workers, the sector remains a vital component of the country’s socio-economic landscape. (PSA, 2021, 2025; Pinhão, 2023).
These developments reflect the Philippines’ commitment to evidence-based planning and sustainable financing, positioning it as a regional frontrunner in aligning financial capital with ocean sustainability goals.
Physical
Capital.
Physical Capital.
The Philippines’ archipelagic geography makes maritime infrastructure and services essential to national connectivity and socio-economic progress. With no island inaccessible by ship or small boat, the domestic shipping network plays a vital role in linking communities and facilitating the movement of goods and people. Major ports such as Manila, Cebu, Davao, Iloilo, Subic, and Zamboanga serve as strategic hubs for passenger and cargo transport across Luzon, Visayas, and Mindanao. The Port of Manila, situated near the natural harbor of Manila Bay, is the country’s largest and premier international gateway, while the Port of Subic and Port of Iloilo offer safe, well-positioned facilities supporting regional trade and tourism (UNESCAP, 2020).
Despite this extensive network, the quality of port infrastructure remains an area for improvement. According to the Asian Transport Observatory, the Philippines ranks second lowest in port infrastructure quality among ASEAN countries, highlighting the need for modernization to fully harness maritime transport’s potential in blue economy development (Francisco, 2024). Challenges such as aging vessels, limited shipbuilding productivity, and gaps in maritime training and regulation have constrained competitiveness.
To address these issues, the Philippine Maritime Industry Development Plan (MIDP) 2019–2028 outlines a strategic roadmap to enhance domestic shipping services, modernize the fleet, and position the country as a global hub for ship management and maritime services (MARINA, 2021). The plan supports broader national strategies, including the Philippine Transport Strategy 2017-2022, the National Cruise Tourism Development Strategy 2016-2022, and the Comprehensive National Fisheries Industry Development Plan 2016-2020 (UNESCAP, 2020). These coordinated efforts aim to improve maritime infrastructure, boost allied industries such as shipbuilding and repair, and elevate the Philippines’ standing in global maritime education, logistics, and tourism.
Human
Capital.
Human Capital.
Filipino maritime professionals play a vital role in the Philippines’ ocean economy, contributing significantly to employment and national development. In 2024, ocean-based industries employed 2.39 million people, accounting for 4.9% of total national employment. Key sectors driving this workforce include ocean fishing (35.6%), sea-based transportation and storage (24.2%), and coastal accommodation and food services (22.6%). Notably, coastal engineering projects experienced the highest growth at 61.3%, reflecting expanding infrastructure and development activities in coastal zones (PSA, 2025).
The Philippines continues to lead globally as the top supplier of seafarers, both officers and ratings, according to UNCTAD and BIMCO/ICS reports. However, maintaining this leadership requires addressing emerging challenges in maritime education and training. Issues such as inconsistent compliance with STCW standards, low educational quality, and fraudulent certification practices have been a challenge to the industry. impacted the overall quality of Filipino seafarers. Additionally, human error in domestic shipping incidents highlights the need to strengthen competence and safety standards.
To respond to these challenges, the Philippines is prioritizing reforms in maritime education and training through the Maritime Industry Development Plan (MIDP) 2019–2028. This includes aligning national systems with international standards, modernizing curricula, investing in technology, and promoting continuous professional development. These efforts aim to enhance the country’s capacity in ship manning, maritime education, and policy development, ensuring that human capital remains a strong pillar of the Philippines’ blue economy (MARINA, 2021).
Social
Capital.
Social Capital.
The Philippines is actively strengthening its social capital to support the implementation of the Blue Economy Act. A key provision of the Act is the establishment of the Blue Economy Council, which will serve as the central coordinating body responsible for formulating an integrated strategy and comprehensive policy framework. This includes advancing ecosystem-based management, integrated marine and coastal area governance, and stakeholder engagement across sectors. Once fully operational, the Council will provide a strong national mechanism to ensure inclusive and coherent blue economy policymaking and implementation.
The creation of the Council also addresses long-standing fragmentation in maritime administration, where overlapping mandates among government agencies have hindered competitiveness and regulatory efficiency. By facilitating cross-sectoral coordination and integration, the Council is expected to streamline governance and enhance collaboration among ocean stakeholders (MARINA, 2021). These developments mark a significant step toward building a more inclusive, participatory, and well-coordinated blue economy framework in the Philippines.
Natural
Capital.
Natural Capital.
The Philippines, with its rich marine biodiversity and extensive coastal ecosystems, is actively working to strengthen its natural capital despite ongoing challenges. Its Ocean Health Index (OHI) score of 59 out of 100 falls below the global average, with particular challenges related to food provision and livelihoods. This underscores the need for more sustainable management of the country’s vast ocean resources (OHI, 2025; Zafra, 2021).
In response, the Philippines has launched a range of initiatives focused on marine environmental protection, conservation, and restoration. These include fisheries management, coral reef preservation, mangrove restoration, and marine pollution control. A major step forward was the country’s entry into the World Economic Forum’s Blue Carbon Action Partnership in December 2023, aimed at accelerating coastal ecosystem restoration (World Economic Forum, 2025). The Philippines has also partnered with the Blue Alliance to support the establishment and co-management of Marine Protected Areas (MPAs) with Local Government Units (LGUs). These collaborative efforts have led to the creation and expansion of MPA networks in North Mindoro and Northeast Palawan, covering hundreds of thousands of hectares of municipal waters (Blue Alliance, 2023).
Further support comes from the Global Fund for Coral Reefs (GFCR), which backs the “Mamuhunan sa mga MPAs” program—an eight-year initiative to enhance the management and financial sustainability of over 80 MPAs. The program aims to regenerate 1.5 million hectares of coral reefs and overfished areas, improve livelihoods for 250,000 coastal residents, and establish a scalable blended finance facility to support reef-friendly businesses. This USD 35 million impact loan facility is designed to unlock sustainable investment in marine conservation across the Philippines and other coastal nations (GFCR, 2022).
In addition, the Philippines is tackling plastic pollution through the National Plastic Action Partnership (NPAP), launched in January 2025. Led by the Department of Environment and Natural Resources (DENR), NPAP brings together stakeholders from government, industry, civil society, and academia to transition toward a circular economy. The initiative supports national policies such as the EPR Act and the Philippine Action Plan for Sustainable Consumption and Production, and is hosted by UNDP as a neutral coordinating body. NPAP prioritizes inclusive solutions, including gender and social equity strategies, to ensure that marginalized communities are part of the transition (UNDP, 2025).
Implementation Capacity
Implementation Capacity
implementation ready
The Philippines has a strong natural resource base and a strategic position as an archipelagic state, offering substantial opportunities for blue economy development. Its large population includes a globally recognized seafaring workforce, which is a key asset for maritime industries.
Supported by solid enabling conditions, including good governance effectiveness and regulatory quality, the country demonstrates a foundation conducive to growth.
These strengths position the Philippines as a nation with supportive blue economy capacity and significant potential to leverage its marine resources for sustainable development.
