Storms, floods to cost PHL $124 billion by 2050

2022-09-01T15:19:11+08:0031 Aug 2022|Tags: , , , , , , , , , |

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

2021-11-12T18:39:52+08:0012 Nov 2021|Tags: , , , , , , , , |

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 [...]

NGOs say ADB climate financing targets not ambitious enough

2021-10-19T23:15:19+08:0017 Oct 2021|Tags: , , , , , , , |

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 [...]

NGO says RE plants prone to fewer outages than coal-fired facilities

2021-10-19T23:10:11+08:0014 Oct 2021|Tags: , , , , , , , , , |

by Angelica Y. Yang | October 14, 2021 | Published by BusinessWorld | READ THE STORY HERE Non-government organization (NGO) Institute for Climate and Sustainable Cities (ICSC) said Thursday that renewable energy (RE) facilities are more reliable than coal-run plants, citing data on outages from the wholesale electricity spot market. In a virtual briefing, ICSC Energy [...]

China’s move vs coal seen to expedite PHL energy transition

2021-10-07T15:16:02+08:0006 Oct 2021|Tags: , , , , , , , |

by Angelica Yang | October 6, 2021 | Published by BusinessWorld | READ THE STORY HERE CHINA’S MOVE to stop building new coal plants abroad will likely speed up the Philippines’ energy transition away from coal and other inflexible baseload power generation projects, according to nongovernment organization Institute for Climate and Sustainable Cities (ICSC). Chinese [...]

ERC urged to disallow automatic pass-through fuel costs in power deals

2021-08-25T14:27:11+08:0023 Aug 2021|Tags: , , , , , , , |

by Angelica Yang | August 23, 2021 | Published by BusinessWorld | READ THE STORY HERE THE ENERGY Regulatory Commission (ERC) needs to remove the pass-through fuel cost provisions in power purchase agreements (PPAs) to ensure the least cost for consumers, according to a UK-funded report on the Philippines’ energy transition. “It would be prudent [...]