The Philippines:
- Renewable energy: The Philippines has set a target of sourcing 35% of its energy from renewable sources by 2030, creating opportunities for companies involved in the development and construction of renewable energy projects. For example, a 100 MW solar power project in Bulacan has been approved by the government, which will be one of the largest solar projects in the country.
- Sustainable transportation: The transportation sector is a major contributor to greenhouse gas emissions in the Philippines, and there is a need for companies to invest in sustainable transportation solutions such as electric vehicles, public transportation, and infrastructure for cycling and walking. For example, the Philippine government has launched a program to promote the use of electric vehicles and reduce the dependence on fossil fuels.
- Social infrastructure: The Philippines has a growing population and a significant infrastructure deficit, particularly in social infrastructure such as affordable housing, healthcare, and education. This presents opportunities for companies involved in the development and construction of social infrastructure projects.
- Sustainable Tourism: The Philippines is a popular tourist destination, and there is a need for companies to invest in sustainable tourism practices that protect the environment and support local communities. This includes companies that provide sustainable tourism products and services, such as eco-tourism, responsible travel, and sustainable hospitality.
- Financial Inclusion: The Philippines has a large unbanked population, and there is a need for companies to invest in financial inclusion solutions such as digital banking and mobile payments. This includes companies that provide innovative solutions for financial inclusion, such as fintech startups and digital payment platforms
These are just a few examples of the ESG opportunities in the Philippines, and there may be other opportunities in other sectors as well. However, these examples provide a good starting point for understanding the ESG landscape in the Philippines.
