Energy stakeholders urge gov’t to lead on net-zero carbon commitment

Power industry stakeholders on Thursday called on the government to take the lead in achieving net-zero carbon emissions in the country by 2050.

“I think it would be critical for the government to exercise its leadership and craft a net-zero commitment,” said AC Energy president and CEO Eric Francia during the virtual press briefing of the Conference of the Electricity Power Supply Industry 2021: The Energy Digicon of Asia Pacific held virtually.

“I don't think only corporates will be sufficient. I think there needs to be a drive from the government,” Francia said.

Net-zero by 2050 is a global movement aimed at achieving the removal of greenhouse gas emissions from the atmosphere to limit global warming to 1.5 degrees Celsius by 2050.

For his part, Aboitiz Power Corporation president and CEO Emmanuel Rubio said the government “should take the lead and I think with the initial commitment—75% in carbon emissions subject to the funds being available.”

“I think it's a start and it's a good way to kickstart this tedious process where there are probably a lot of roadblocks as well,” Rubio said.

Francia said that industry stakeholders recognize that embarking on the net-zero journey is challenging.

“I think it's just a matter of time that the Philippines hopefully will also commit to net-zero and again craft specific policies that will give a lot of teeth and depth to that potential… hopefully it will also encourage more corporations in the Philippines to follow suit,” Francia said.

“You know the key concern, key burning question for a lot of our CEOs is would this put us in a disadvantage? Because in net-zero, you need to mind your scope 3 emissions which are the emissions borne by your supply chain,” he added.

Rubio noted that once “a firm roadmap” and “firm policies” are in place, more entities will join the movement.

“One thing I think that we can look at is also what the ADB (Asian Development Bank) and some of the financial institutions have started about energy transition mechanisms. I think we've had discussions with some of these banks and continue to explore,” Rubio said. — BM, GMA News