RE transition won’t happen ‘overnight’ — DoE [BusinessWorld]
by Ashley Erika O. Jose | July 30, 2023| Published by BusinessWorld | READ THE STORY HERE THE Department of Energy (DoE) said it will take time for the Philippines to transition to 100% renewable energy (RE), and called for the industry to be more honest about how long the shift will take. “For those who are saying that we can go 100% renewable overnight, then I would like to have more honesty from this sector that we are not in a position to do it,” Energy Secretary Raphael P.M. Lotilla said at the BusinessWorld Insights forum [...]
LNG terminals seen to pose threat to PHL energy security [BusinessWorld]
THE government’s approval of more terminals for imported liquefied natural gas (LNG) may have worsened the country’s looming power crisis, according to organizations focused on the energy sector. “Taking a broader perspective will address the level of dependence we may be placing on LNG given its volatile fuel prices,” said Alberto R. Dalusung III, energy transition advisor of Manila-based policy group Institute for Climate and Sustainable Cities, in a Viber message.
Storms, floods to cost PHL $124 billion by 2050
STRONG STORMS, heavy flooding and prolonged droughts may result in around $124 billion in losses to the Philippine economy between 2022 and 2050, according to research firm GHD. This translates to an average annual gross domestic product (GDP) loss of 0.7% for the Philippines, GHD said in a statement following the release of its report “Aquanomics: The economics of water risk and future resilience.”
Clean air advocates say updates required for PHL air quality norms
November 10, 2021 | Published by BusinessWorld | READ THE STORY HERE Air quality standards are falling behind international norms, with the two-decade-old Clean Air Act not up to the task of minimizing untimely death as a result of substandard air, clean air advocates said in a report. The Centre for Research on Energy and Clean Air (CREA) and the Institute for Climate and Sustainable Cities (ICSC) said in their report that neglecting air quality costs the Philippines P4.5 trillion a year and may have inflated the pandemic death and illness count by up to 15%. “Air quality is [...]
NGOs say ADB climate financing targets not ambitious enough
by Angelica Y. Yang | October 17, 2021 | Published by BusinessWorld | READ THE STORY HERE A network of civil society groups said the Asian Development Bank’s (ADB) updated climate financing target of $100 billion is “un-ambitious,” adding that the eligibility requirements for projects to be funded are vague. The banks’ new financing target is an upgrade from its previous goal of $80 billion. The new target covers the years 2019 to 2030. “A commitment of $10 billion per year with ambiguous benchmarking standards can hardly be called ambitious,” NGO Forum on ADB Energy Policy and Campaigns Strategist [...]