President Marcos has highlighted the country's measures to address the high cost of green technology as the world transitions from fossil fuel use to renewables to avert climate crisis.

Marcos said in his intervention during the Asia Pacific Economic Cooperation (APEC) Leaders' Informal Dialogue and Working Lunch at Moscone Center in San Francisco, California, on Thursday, Nov. 16 (Manila time).

In his remarks, the President said the key to addressing the high cost of green technology was cooperation in its development, liberalization of the sector, and facilitation of green trade and investment.

For its part, Marcos said the Philippines has liberalized to full ownership in the solar, wind, and geothermal sectors and reduced tariff rates on environmental goods.

The country has also advanced the promotion and increased adoption of renewables in its energy mix and diversification of energy sources to include clean and indigenous sources and mainstream sustainable practices.

In addition to this, the Chief Executive said digitalization and innovation were central to building a resilient and sustainable future by optimizing resource use, promoting clean technologies, and supporting smart cities and infrastructure.

He also pointed to collaboration on new and emerging sustainable fuels and technologies, storage systems, electric mobility, and critical minerals for storage, batteries, and cables as some of the many possibilities.

Marcos likewise stressed that economic reform toward greening the economy plays a critical foundational role. He noted that good regulatory practices and integrating innovation into regulatory policy development would ensure that economies have an enabling environment to encourage and adopt a green economy.

"As regulators and decision-makers, ours is the responsibility to balance stimulating economic growth with protecting the public during this transition," he said.

"Capacity building in the development of new models, scenarios, and risk assessment tools, sharing of data, and building of new reporting standards compatible with the evolving context would prove critical in both magnifying the collective impact of our individual actions and appropriately monitoring and evaluating our progress in the implementation of our objectives," he added.

Also, President Marcos said the transition for both energy security and environmental protection and preservation in line with the climate goals must be done in a way that is just, inclusive, sustainable, and affordable.

Meanwhile, regarding the supply side, Marcos said deeper collaboration in advancing and adopting affordable and accessible renewable energy and low-carbon technologies could steer economies away from fossil fuel reliance.

Science, technology, innovation, and research cooperation will lower development costs, enhance the quality of technologies, and expedite climate mitigation solutions.

"On the demand side, the promotion of energy efficiency and conservation initiatives can reduce the demand for fossil fuels. Embracing these supportive approaches contributes to an equitable and inclusive transition," Marcos noted.

"Just energy transition entails not only ensuring that affected and already underserved segments such as micro, small, and medium enterprises (MSMEs) and rural and geographically disadvantaged communities continue to have access to affordable energy but also that our ambition is supported by quality jobs and workforce development, human resource upskilling, infrastructure connectivity, and blended finance packages," he added.