The Philippine Economic Zone Authority (PEZA) is looking to obtain the global eco-industrial park (EIP) certification, signaling the agency’s intention to position the country as an attractive investment destination for green companies.

In a social media post, PEZA Director General Tereso Panga said he recently met with executives of the International Finance Corporation (IFC) and the World Bank (WB) to tap their advisory services.

Panga said he is seeking a diagnostic report on present EIP opportunities in the country through the collaboration with IFC and WB.

Essentially, the EIP certification is a global initiative aimed at boosting the adoption of sustainability standards in industrial parks, freeports, and economic zones.

The diagnostic report will support PEZA in benchmarking other EIP frameworks, conducting a market assessment, drafting a roadmap, and reviewing the enabling laws and regulations necessary for the adoption of EIP.

“As we transition to the EIP model, we are optimistic that PEZA’s 427 economic zones—and the country’s freeports—will adopt the EIP framework and green growth strategies,” said Panga.

Panga said the country’s ecozones must evolve beyond being just viable venues for foreign direct investment (FDI).

He said they must now also enable climate resilience, green infrastructure, energy efficiency, and industrial symbiosis to ensure sustainable growth

Industrial symbiosis, in particular, refers to the concept of enabling companies to gain a competitive advantage through the physical exchange of materials, energy, water, and by-products.

So far, PEZA has identified Lima Technology Center, First Philippine Industrial Park, Laguna Technopark, Light Industry and Science Park, and Carmelray Industrial Park as pilot ecozones in the EIP certification process.

Panga said these zones will serve as so-called “testbeds” in integrating sustainability into business strategy.

To complement the EIP adoption, PEZA launched the Sustainability Reporting Guide for Exporters (SuRGE) as part of its ongoing effort to nurture a more sustainable business environment for investors and communities.

Recently, the investment promotion agency partnered with Japan-based Zeroboard Inc. to strengthen sustainable industrial development by providing PEZA-registered export-oriented firms to measure and reduce their greenhouse gas (GHG) emissions.

“These initiatives are pivotal in positioning the Philippines as a preferred investment destination for companies that prioritize clean and green production,” said Panga.

The official said PEZA is committed to obtaining an EIP certification to further elevate the competitiveness and overall value of its locators and stakeholders

Based on government data, the agency contributes approximately 60 percent of the Philippines’ total annual exports of goods and services.