Institute for Climate and Sustainable Cities
REACTIVE: PHL shift to clean energy will spur economic growth, development –report
MANILA, 21 June 2019- The Philippines along with other countries in South and Southeast Asia can transition to renewable energy to fuel economic growth, boost sustainable development and achieve energy security while avoiding life-threatening pollution and environmental degradation, according to a new report.
The country’s “increasing reliance on fossil fuel imports comes at a significant cost – 3.5% of the country’s GDP or 11 billion USD in 2017 were spent on fuel imports,” according to the international research group Climate Analytics, which published the report yesterday during the United Nations climate talks in Germany.
“The Philippines could benefit from reducing external costs from air pollution with annual average [outdoor] air pollution cost savings in 2025 amounting to about 1.1 billion USD,” it added.
The report also cited studies stating that covering even just 1.5% of the Philippines’ territory with solar installations would allow the generation of 792 terawatt hours of electricity, equivalent to ten times the country’s total electricity generation in 2016.
Reacting to the report, Francis Dela Cruz, partnerships and advocacy advisor of the international policy group Institute for Climate and Sustainable Cities, said:
“This report confirms that shifting from coal and diesel to renewables can provide not only more affordable and more reliable energy but also lead to more jobs and savings. It reduces risks brought about by the imminent stranding of coal plant assets and contributes global benefits by helping reduce harm brought about by climate change.
“Our government must take developed countries to task for their failure to provide leadership on climate action, but it must also walk the talk on renewable energy and energy efficiency. With a greater sense of urgency, Philippine economic managers can and should bake into our long-term development plans the country’s climate vulnerabilities as well as our wealth of clean energy sources.”
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