The Global Business Power Corp. (GBP) is urging the power sector to a sustainable approach to development that will address both economic and environmental challenges.

GBP President Jaime Azurin said that the power sector should pay attention to the global sustainable development agenda.

“Energy is the lifeblood of all economic activity, without power our factories and offices and railways will simply not run, but generating power to support these activities cause pressures on the environment,” he said at the 2018 Asian Power Utility Forum.

He said that the government, generation companies, and the customers have a “crucial role to play.”

Citing the Sustainable Development Goals (SDGs) of the United Nations Development Programme (UNDP), Azurin said that the energy sector is crucial to the resolution of many development issues.

Under the SDG, universal access to affordable, reliable, and modern energy services and doubling the global rate of the improvement in energy efficiency are aimed to be achieved by 2030.

In achieving, power players must take note of the government’s call in achieving a balanced energy mix which should go beyond the selection of any specific technology.

“To achieve energy security, we must optimize the resources available to us whether they’re conventional or renewable,” Azurin said.

He also stressed the importance of a stable regulatory environment to support the development of the sector.

Regulatory issues must be addressed to avoid possible gaps in policy while forthcoming renewable energy measures should be implemented.

These include the renewable portfolio standards, which requires distribution utilities to source a part of their power supply from eligible renewable energy producers.

Another is the green energy option that gives customers the option to choose RE as their power source.

“Reliable energy supply creates a conducive environment for more investors to pour money and resources into an area and create jobs,” Azurin said.