CME faculty share about practicing local eco-friendly economy in national confab

In a remarkable convergence of expertise, prominent economists from across the Philippines convened for the 61st Philippine Economic Society conference at Novotel Manila Araneta City, Quezon City on November 7-8, 2023. 

The conference's theme, "Transforming the Philippine Economy for a Prosperous, Resilient, and Inclusive Society," embodies a shared dedication to determining the direction of the country's economic development. The Philippine Development Plan (PDP) for the years 2023–2028 served as the key discussion point during this important occasion, highlighting the urgent need for sustainable economic growth. 

Informed of how this will have a direct impact on the national economy, the conference focused on how important it is to change local practices in order to make the country more resilient to unexpected economic shocks while sustaining the environment for the sake of future generations. 

Homegrown economists and #ProudViscans Lemuel C. Preciados and Hadasha Bongat presented their paper in this national gathering of experts to discuss local initiatives to achieve an eco-friendly economy at the community level.

Mr. Preciados is an Associate Professor I of the Department of Economics while Ms. Bongat is an instructor of the Department of Business Management (DBM), both of them under the College of Management and Economics (CME).

The former has emerged as one of the fast rising active members of the Philippine Economic Society. He was recruited to the organization by CME Dean Dr. Moises Neil V. Sereño being one of the key players of some research projects funded under the Australian Center for International Agricultural Research (ACIAR).

In collaboration with the Agriculture, Aquatic, and Natural Resources Community of Practice (AANCoP), PES facilitated Mr. Preciados' participation in the said conference, providing the essential travel support that covered his accommodation and other incidental expenses. This partnership underscores the commitment of PES and its associated entities to fostering growth and knowledge exchange within their expanding economic community.

Mr. Preciados presented a research paper entitled, Regional Life-Cycle Assessment for Estimating Greenhouse Gas Emissions from Rice Production in the Philippines which is co-authored by the Philippine Rice Research Institute (PhilRice) based in Nueva Ecija, along with the National Agriculture and Food Research Organization based in Ibaraki, Japan. 

This paper talked about streamlining the method of how we can estimate greenhouse gas emissions in rice-cropping on a regional level by doing household surveys. Rice cropping in the Philippines contributes to a higher amount of emissions as found in previous studies and their paper explores alternative strategies on how we can still achieve higher yields or higher production while minimizing greenhouse gas emissions. 

According to Mr. Preciados, the conference played a significant role in motivating him to write research papers about the environmental elements of the economy. He found the PES conference to be pleasant and fulfilling, even though most of the papers that were presented by other researchers tended to be more business and agribusiness-oriented. His investigation of the environmental aspects of the economic environment was spurred by the occasion, highlighting the conference's influence on his scholarly and professional pursuits.

“My goal is to establish a connection with a wider audience that tackles similar problems to our studies on encouraging an eco-friendly economy. Even if there weren't many papers that addressed environmental issues, I am happy with and grateful for the way the conference was put together overall. The length of time allotted for questions, debates and the breakout sessions was especially appreciated by me. I am honored to join the PES group as a new member representing the entire VSU community.” Mr. Preciados explained.

In addition, he emphasized that it’s critical for the people to learn our economy, especially on the environmental side. His advocacy in making farmers, consumers, and our environment happy allows him to seek more economists of the same area of study.

“It is very critical to learn more on the environmental side of our economy.  Our planetary boundaries have surpassed its limitations and we need to seek alternative strategies on how we can reduce environmental pollution because in this way, we can also take a look at how we can address food insecurity with the increasing pollution today.  As someone who went and studied in Australia, I have seen their advanced way of promoting a circular economy, sustainable practices, and green initiatives. That is why I want to also push through what I have Iearn there and apply it in our community.” Mr. Preciados added. 

This year’s PES conference commemorates the organization's 61st anniversary of its establishment as one of the leading economic think-tanks in the country today. 

The organization continues to serve as a hub for productive dialogue and collaboration among outstanding economists, with an emphasis on topics related to the outlook for the future of our country's economy. 

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