The Philippine Chamber of Commerce and Industry urged policymakers to implement decarbonization regulations, policies, and programs that consider the needs of industries while striving for net-zero emissions by 2050, as outlined in the Paris Agreement.
“This legislation represents a bold step toward sustainability and responsibility. But it should not come at a cost to businesses and to the economy as a whole,” said PCCI chairman and director for energy and power George Barcelon in a meeting with stakeholders. The PCCI urged the country’s legislators and policymakers to anchor de-carbonizaton targets on actual data gathered from various industries and to come up with policy or program recommendations after undertaking a thorough cost-benefit analysis, benchmarking on what other countries in ASEAN are doing with respect to reducing their carbon emissions and identifying best practices.
The PCCI noted that the standards identified in the proposed bill are first world standards that need to be aligned with third world realities.