Groundwater in Cagayan de Oro, Philippines is being overused, leading to depletion of aquifers. Businesses are willing to pay for water supply. A tradable permit system for water extraction could help conserve groundwater and raise funds for water conservation. However, reforms in water monitoring and licensing are needed for this to work. Excessive groundwater extraction is a global issue causing water shortages, land subsidence, and saltwater intrusion. In the Philippines, where El Nino has increased climate uncertainties, groundwater depletion is a critical challenge. Metering and charging for groundwater extraction could limit usage effectively.