March 6, 2025
This is according to a study by The Climate Reality Project Philippines, which also revealed that 36 GEOP switcher companies have seen an average of 34% reduction in electricity costs (amounting to a total of PhP 71.7 million) and 79% reduction in carbon emissions (8,886,598 kg of CO₂ emissions) since 2021.
These findings were unveiled at the REalize 2025 conference, “Enabling Climate-Resilient and Sustainable Growth through Renewable Energy,” held on February 27. Organized by Climate Reality Philippines and the Institute for Climate and Sustainable Cities (ICSC), the event convened business leaders, clean energy advocates, and civil society organizations to present voluntary renewable energy mechanisms as net-zero carbon pathways for the private sector and stakeholders.
Energy experts, civil society organizations, and private sector representatives recognized the immense potential of renewable energy in aligning corporate and national sustainability targets on just transition.
In an age where corporate sustainability is paramount, renewable energy emerges as a leading solution for businesses to meet their operational and sustainability targets.
GEOP provides access to 100% renewable energy without requiring upfront capital or major technological investments. According to the study, end-users secure electricity rates between PhP 4.00 and PhP 5.00 per kWh, leading to an average monthly electricity savings of PhP 355,038.00.
“Renewables are the most competitively priced energy source today. In fact, solar and wind have already avoided market costs in the past years. Renewable has reduced the settlement price of electricity by 28% during peak hours even with less than 3% share in the energy mix,” Angelika Marie David, ICSC’s Manager for Energy Policy, explained during the conference.
The study further revealed that each GEOP-registered meter could reduce 1,024,776 kg of CO₂ emissions annually—equivalent to the carbon sequestration capacity of eight hectares of mature molave trees per year. With 451 GEOP-registered meters currently in operation, this translates to an annual carbon sequestration impact comparable to 3,481 hectares of molave trees—an area similar in size to the Talaytay Protected Landscape, Magapit Protected Landscape, or Calauit Safari Park.
Giancarlo Pocholo Enriquez, the Energy Lead of The Climate Reality Project Philippines, presented the socioeconomic impacts of 100% renewable energy as analyzed from the experiences of 36 GEOP-registered meters.
[Related Story: New study: Philippine businesses reap rewards of renewable energy]
Beyond cost savings and emissions reduction, businesses that switch to 100% renewable energy through GEOP gain a competitive edge in corporate governance, investor relations, and regulatory compliance.
Jonas Marie Dumdum, Senior Consultant at Nomura Research Institute, emphasized that adopting renewable energy strengthens corporate reputation, attracts sustainability-driven stakeholders, and ensures compliance with global Environmental, Social, and Governance (ESG) standards.
Rowena Naguit, Policy and Planning Group Manager at the Philippine Economic Zone Authority, echoed this sentiment, noting that GEOP helps local businesses comply with the increasing sustainability requirements set by their foreign parent companies.
Dumdum encourages businesses to participate in GEOP to fast-track their sustainability targets while minimizing both environmental and financial risks.
As corporate participation in GEOP grows, demand for clean and sustainable energy continues to rise—an essential driver for the country’s renewable energy roadmap.
“We see this [GEOP] as an opportunity to highlight the importance of consumers’ participation in the development of renewable energy in the country,” Liza Pangilinan, the OIC-Chief of the Department of Energy’s (DOE) Technical Services Management Division Renewable Energy Management Bureau, supported.
Cornelio Guantero, Jr., the Senior Economic Development Specialist at National Economic and Development Authority Region VII, urged DOE to intensify their campaign on GEOP, even proposing the development of a national policy that encourages local government units to incorporate GEOP as part of their climate mitigation efforts.
Enriquez, Guantero, and Naguit recommended scaling up information campaigns on GEOP across regions and economic zones to increase awareness and engagement on the program.
“The industries have the potential to catalyze a journey of sustainability and equity. They are pivotal arms in achieving the country’s renewable energy transition agenda and sustainability targets,” Aimee Oliveros, The Climate Reality Project Philippines’ Deputy Branch Manager, said.
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