EU unveils investment, biz opportunities for PH at Green Economy Forum
FILE / STOCK
Philippine companies joined European counterparts at the Green Economy Forum aimed at boosting investments and business in circular economy and clean energy on Friday.
Titled ‘Businesses at the heart of the Green Transition in the Philippines’, the event from November 26 to 27 highlighted the pivotal role of the private sector in the country’s transition to a green economy.
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Under the European Union’s (EU) Green Economy Programme, the forum brought together senior government officials from the Philippines, the European Union and its Member States, as well as representatives from the business community.
The event also underscored the importance of working together in green economic transition and in addressing environmental challenges.
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“We come together at the Green Economy Forum to showcase the offer that the European Union and its Member States and financial institutions, working as Team Europe, make to the Philippine public and private sector. Today’s forum highlights opportunities for investment and business match-making for Filipino and European companies in the green economy sector,” said Ambassador of the European Union to the Philippines, Massimo Santoro.
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“This forum aims to pave the way for stronger private and public collaboration, and to encourage investments in key sectors to promote the country’s green transition on energy, circular economy, and green technology. Our quality partnership will ultimately benefit today and tomorrow’s generations, by helping preserve the environment while reaping economic benefits for the country”, he added.
The European Union and European Union Member States Austria, Belgium, Germany, Finland, France, the Netherlands and Sweden, pooled financial support of over ₱29 billion (EUR 466 million) under the Team Europe Initiative on Green Economy.
Norway is also joining this Team Europe Initiative. Team Europe offers a variety of products ranging from government-to-government support, to grants for local government units and innovation grants for the private sector.
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The forum featured a plenary session led by the Ambassadors of Belgium, Finland, France, Germany, Sweden, Norway, and government representatives, with dialogues on European-led initiatives on green economy in the Philippines on investment, transformative circular economy, and just transition.
The Green Economy programme includes some key initiatives such as the Extended Producer Responsibility (EPR), which makes producers responsible for their products along the entire lifecycle, including once consumers discard them. The EU-PH programme also aims to tackle green public procurement.
Private sector representatives led panel discussions on scaling up clean energy and enabling circular economy initiatives.
Other highlights of the 2-day forum included dedicated business matchmaking and networking sessions for local and international enterprises.
Filipino artists also showcased their art in an exhibit highlighting themes of sustainability and circularity.