PH drives private sector Net Zero transformation

By Rhaydz B. Barcia

CLIMATE Change Commission Secretary Robert E. A. Borje lauded the Energy Development Corporation (EDC) and 32 other corporations in the Philippines for unifying and advancing the fight against climate change.

Speaking at the country’s first Net Zero Carbon Alliance (NZCA) conference, held at The Fifth Rockwell in Makati on Thursday, Borje, vice chairperson and executive director of the Climate Change Commission, addressed a gathering of major corporations, business leaders, policymakers, financial institutions, and other stakeholders.

He emphasized that the fight against climate change requires a shift toward science and evidence-based, investment-led, and transformative approaches.

Borje praised the conference as a platform for discussing the Philippines’ low-carbon transformation policies, which are vital to the country’s contribution to the global climate change agenda. He highlighted the importance of deepening the collaboration between stakeholders as co-creators and co-implementers of transformative climate actions.

The Net Zero Carbon Alliance (NZCA), the largest private sector-backed organization in the Philippines advocating for net zero, hosted the event under the theme “Strengthening Resilience: Scaling the Philippine Private Sector’s Net Zero Ambitions.”

The conference brought together businesses, policymakers, and financial institutions to strategize on the Philippines’ path toward a meaningful, equitable, and sustainable net-zero transformation.

During the event, Borje outlined three critical areas: the Philippines’ commitment to global decarbonization efforts, despite its small contribution to global emissions; the strategic areas where the country can attract investments and drive sustainable economic growth through low-carbon transformation; and the synergies between government and the private sector, which enhance both ecological and economic resilience.

“As we reflect on these points, it is clear that climate change is the governance challenge of our generation. It is a global, historic, and systemic issue affecting every nation, economy, and community,” Borje said.

He cited the 6th Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), which highlights the impact of extreme weather, changing rainfall patterns, and rising sea levels on economies, infrastructure, and ecosystems. For the Philippines, one of the most at-risk countries, the stakes could not be higher.

“Under the leadership of President Ferdinand R. Marcos Jr., the Philippine government has ramped up whole-of-government and whole-of-society approaches to address these challenges,” Borje said.

In terms of mitigation, the country’s Nationally Determined Contribution (NDC) targets a 75 percent reduction in greenhouse gas emissions compared to a business-as-usual scenario. However, only 2.71 percent of this target is unconditional, based on nationally mobilized resources, while 72.29 percent is contingent on international support.

“This highlights the dual role of our NDC: as both a national blueprint for emission reductions and a mechanism to attract climate finance, capacity building, and technology transfer. Implementing the NDC will require an estimated investment of around USD 72 billion,” Borje explained.

Borje also noted that the Philippines is developing its National Adaptation Plan (NAP), which was recently submitted to the UNFCCC. The NAP will guide the country’s medium- and long-term adaptation efforts in sectors most vulnerable to climate change, including agriculture, fisheries, water resources, and public health.

He emphasized the private sector’s crucial role in the transition to a low-carbon economy, citing its capital, technology, and innovation as key drivers of sustainable development.

The World Bank’s Philippine Country Climate and Development Report estimates that achieving the NDC target by 2030 will cost between USD 12 and 15 billion, offering growth opportunities in sectors such as agriculture, water, energy, urban development, social protection, health, and education.

Furthermore, the Philippine Energy Plan 2020-2040 aims for a 35 percent renewable energy share by 2030 and 50 percent by 2040, which will require USD 36.5 billion in investments.

Borje also cited the Global Commission on Adaptation’s findings that investing USD 1.8 trillion in areas like early warning systems, climate-resilient infrastructure, and water security could generate USD 7.1 trillion in net benefits.

“The cost of proactive climate action is far less than the cost of recovery and rebuilding,” Borje said, stressing the need for science-based, investment-led, and transformative approaches.

Borje highlighted the role of blended cement, which significantly reduces carbon emissions, in the industrial sector’s decarbonization efforts. He mentioned that the government is considering public procurement measures to support the use of low-carbon blended cement, which significantly reduces carbon emissions.

CLIMATE Change Commission Secretary Robert E. A. Borje (at the middle) receives a token from Energy Development Corporation presented to him by Atty. Allan Barcena, Assistant Vice President and Head of Corporate Social Responsibility and Public Relations at Energy Development Corporation (EDC) and Frances Ariola, EDC corporate communication chief during the first Net Zero Carbon Alliance (NZCA) conference held at The Fifth Rockwell in Makati on September 19, 2024. Photo Courtesy Of Rhaydz B. Barcia