PCCI urges a balanced approach to CO2 reduction plans

To help alleviate the impact of the severe carbon reductions in business and the economy, the Philippine Chamber of Commerce and Industry (PCCI) urges policymakers to consider a balanced approach when addressing plans for the reduction of CO2 emissions.

In a report by The Manila Times, PCCI Chairman and Director for Power and Energy George Barcelon said the decarbonization legislation is a courageous approach to sustainability. However, it should not have a negative effect on companies and the economy in general.

PCCI added that low-carbon economy targets should be based on real industry data, recommending that lawmakers conduct thorough cost-benefit studies and draw comparisons from Southeast Asia’s carbon emissions reduction initiatives to land.

The organization also raised several hurdles in the agriculture, cement and construction sectors and food production that could threaten the country’s shaky food security.

Barcelon added that reaching a low-carbon growth target meant advances in technology, but the environment suffered.

Efforts aligned with decarbonizing the economy to achieve the net-zero emissions target by 2050, as set out in the Paris Agreement, include programs under the Department of Environment and Natural’s Clean Air and Clean Water Acts Resources (DENR), as well as energy efficiency and conservation initiatives and the Department of Energy’s (DOE) Renewable Energy Acts.

There was also the efforts of the Department of Transportation (DOTr) regarding the E-vehicles Act.