In file photo: The Burgos wind farm of First Gen-owned Energy Development Corporation , the country’s largest renewable energy producer.THE Philippines has made it to the top five host economies of renewable energy investments in the Developing Asia and Oceania region from 2015 to 2022, according to the World Investment Report 2023 released by the United Nations Conference on Trade and Development .
Between 2015 and 2022, Unctad noted that Ayala Group is the top investor in renewable power in the Philippines, with 31 projects in the country. For her part, Unctad Secretary-General Rebeca Grynspan said, “A significant increase in investment in sustainable energy systems in developing countries is crucial for the world to reach climate goals by 2030.”
The World Investment Report 2023 showed that foreign direct investment inflows for the Philippines declined by 23.2 percent from $11.9 billion in 2021 to $9.2 billion in 2022.