statement of support pushing for a rapid, full implementation of the GEOP. Notably, Toyota Philippines was joined by AC Energy, the energy arm of the country's oldest conglomerate, which last year announced to great fanfare its plans to fully divest from coal by 2030 on the way to becoming Southeast Asia’s largest listed renewable energy developer.
High-level executives of the incumbent Duterte administration — including Department of Finance Assistant Secretary Paolo Alvarez and Department of Energy Undersecretary Felix William Fuentebella — provided reactions of support for a clean energy transition. They were joined by a line-up of leading political candidates expected to figure prominently in the crucial May 2022 elections, the first national election since the COVID-19 pandemic.
This unprecedented, truly bipartisan show of support for the energy transition and for climate action in the Philippines marks a historic turning point — political leaders across party lines have somehow unified toward a common cause.
At the same time, the May 2022 elections will see 4 million first-time Filipino voters, most of whom are increasingly climate-aware youth. This number — about 10% of total votes cast — is significant, meaning climate policy and ambitious renewable energy plans could be decisive in the election’s outcome.
Seizing the Renewable Energy Opportunity in the Philippines
Like many developing countries, especially those in Asia, the Philippines needs to respond and recover fast to the economic impacts and human devastation of the COVID-19 pandemic. Investing in climate-proof, economically smart renewable energy will put the country on the right path. Rather than continuing to rely on unstable, polluting fossil fuels, the Philippines has an opportunity to embrace the support of the private sector and the public, lead among its peers in the region, and chart a bold path toward a renewable energy future.
The question now is: Will its national government seize the opportunity?
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