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 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 globally causes water shortages, land subsidence, and saltwater intrusion. In the Philippines, where El Nino has increased climate uncertainties, groundwater depletion is a critical issue. Metering and charging for groundwater extraction could limit use and help conserve water catchment areas.