To help alleviate the effects of severe carbon dioxide (CO2) reductions in businesses and the economy, the Philippine Chamber of Commerce and Industry (PCCI) is urging policymakers to consider a balanced approach when addressing carbon emission reduction plans.
In a report by The Manila Times, PCCI Chairman and Director for Energy and Power George Barcelon said the decarbonization legislation was a brave approach towards sustainability. However, it should not have a detrimental effect on companies and the economy overall.
PCCI added that the decarbonization goals should bank on real industry data, recommending legislators to carry out thorough cost-benefit studies and draw comparisons from the carbon emission reduction initiatives of Southeast Asian nations.
The organization also posed various obstacles in the agriculture, cement and construction industries, and food production which could threaten the country’s shaky food security.
Barcelon added that achieving a low carbon growth target meant advancements in the technology, yet the environment suffers as a result.
Efforts aligned with decarbonization to achieve the net-zero emission target by 2050, as outlined in the Paris Agreement, include programs under the Clean Air and Clean Water Acts by the Department of Environment and Natural Resources (DENR), as well as initiatives concerning Energy Efficiency and Conservation and the Renewable Energy Acts by the Department of Energy (DOE).
There were also the efforts of the Department of Transportation (DOTr) regarding the E-vehicles Act.
