Philippines urged to scale up emissions reduction targetsMANILA, Philippines — The Philippines’ nationally determined commitment (NDC) or emissions reduction targets are currently viewed as modest, highlighting the need for further action in the areas of electric vehicles and nature conservation, based on a recent report on Southeast Asia’s progress towards decarbonization. Additionally, the country’s policy allowing 100 percent foreign ownership of renewable energy infrastructure presents further opportunities for growth. The report said that Southeast Asia needs to reduce greenhouse gases emissions by 33 percent to meet NDCs targets by 2030. Philippines’ green investments, for its part, have declined to $900 million in 2022 versus $2.8 billion the previous year. “Southeast Asia will need to double down on its decarbonization efforts to achieve the dual purpose of economic growth and decarbonization,” it said.

Source: Philippine Star June 13, 2023 03:53 UTC