The Philippines’ first-ever conference on net zero brought together an estimated 400 participants from businesses, policy-making bodies, financial institutions and other stakeholders, and underscored a multi-sectoral approach of policy, funding and innovation in advancing and achieving the country’s decarbonization goals.
The Net Zero Conference is a landmark annual meet organized on the third year of the Net Zero Carbon Alliance (NZCA), the pioneering consortium of businesses and enterprises in the Philippines convened by Energy Development Corporation (EDC), the all-renewable energy arm of the Lopez Group’s First Gen Corporation.
Amid the undeniable reality of climate change, “there is no other way to go but net zero,” emphasized Federico Lopez, chairman and chief executive of EDC parent First Philippine Holdings Corporation, in his keynote message opening the event.
“While addressing the climate crisis feels such a daunting task, we remain optimistic and encouraged as we see a myriad of sectors of society coming together and taking collective action,” said Lopez.
“Our mission [at the Lopez Group] to forge collaborative pathways to a decarbonized and regenerative future continues to guide our path, and we reaffirm our commitment to work together with all stakeholders, including the Net Zero Carbon Alliance to rally more businesses and organizations across all sectors to achieve our net zero ambition,” he added.
The conference laid out plenary sessions tackling the aspects of policy, finance and technological innovations as critical climate action strategies in support of the country’s Nationally Determined Contribution (NDC) to the global mission of attaining net zero by 2050.
Special guests included Representative Jose Manuel F. Alba of the 1st District of Bukidnon, who is a member of the House Committee on Climate Change and co-author of House Bill 7705 or the Low-Carbon Economy Bill, which aims to engage the private sector toward decarbonization through viable and cost-competitive, low-carbon investments.
In terms of financing, “the transition to net zero represents one of the largest economic shifts of our time,” said Orkhan Mustafayev, senior advisor to the High-Level Champion on Business Engagement for COP29. He cited the International Energy Agency (IEA) in estimating that the global net zero journey will require clean energy investments to grow to $4 trillion annually by 2030.
In the Philippines, implementing the NDC will require an estimated total investment of around $72 billion, according to Secretary Robert E.A. Borje, vice chairperson and executive director of the Climate Change Commission. He urged the private sector to see this as an opportunity to invest in opportunities in a green economy.
“Our country is well-positioned to benefit from the transition to a low-carbon economy, and the private sector has a crucial role to play in driving this transformation,” said Borje.
“The private sector possesses the capital, technology and innovation necessary to drive low-carbon and climate-resilient development pathways.”
The event included activities in commemoration of NZCA’s third anniversary, such as signing the new partners’ pledge of commitment toward net zero, launching its Net Zero Stages of Progress, and the release of its current partners’ decarbonization accomplishments.
As of the conference, NZCA has counted 34 partner-members from various industries and enterprises such as manufacturing, real estate, hospitality, information technology, mobility, finance, and the academe, as well as five partner-enabler organizations.
Its new partners include Calibr8 Systems, Coca-Cola Beverages Philippines, Inc., Container Living PH, Control Union, De La Salle-College of Saint Benilde, Inc.,First Philec, Fluor Daniel Inc., GHD Pty. Ltd., Hocheng Philippines Corporation, InterCharge Corporation, OCS Philippines, SLB, and Weave Solutions Inc.