In this week’s article for our Manila Bulletin column Eleventh Hour, Climate Reality Leader Philline Donggay highlighted the opportunity to deprioritize building utility-scale power plants requiring large transmission towers and advance distributed and decentralized clean energy systems that will better cater to the small pockets of unelectrified communities in the Mindanao region.
The Green Energy Option Program (GEOP) gives the Filipino people a potent weapon against the volatility of fossil fuel costs and unreliability of coal-fired power plants exemplified by recent power outages.
Banco de Oro (BDO) Capital and Investment Corporation and the Bank of the Philippine Islands (BPI) today called for the shift of financial flows towards the 1.5 degrees Celsius global warming threshold of the Paris Agreement in order to address climate and energy transition risks and increase resilience. They also stressed the critical need to address challenges in financing renewable energy projects, as raised by Department of Energy Undersecretary Felix William Fuentebella.
The pursuit of the energy sector targets under the Philippines’ Nationally Determined Contribution (NDC) should result in improved energy security and reliability, energy access, and affordability of energy products and services.
The Philippines’ foremost energy experts and energy finance analysts vouched for the capacity of renewable energy sources to fully supply the country’s energy needs in the future, noting that there are enough technologies, software, and strategies to address the issues of intermittency and variability.
Climate Reality Leaders working on the development and deployment of energy in the country have expressed support to the Asian Development Bank’s (ADB) plan to stop funding any coal-related projects and decommission coal-fired power plants in the Asia Pacific Region.
