The SGV Knowledge Institute, together with its Sustainability team, convened energy and finance leaders in Makati to discuss how the Philippines can pursue a just energy transition. This is defined as a shift to cleaner energy that also protects communities, ensures equity, and secures the economy.

Rossana A. Fajardo, SGV Country Managing Partner, set the tone in her opening remarks by stressing that climate action must be inclusive. “We must pursue decarbonization with justice and equity, ensuring that no one is left behind,” she said.

Delivering the keynote, DOE Undersecretary Felix William Fuentebella explained that the “just” part of the transition means addressing the trilemma of economics, equity, and environment together. He introduced the DOE’s ARC framework- Access and Affordability, Reliability and Resiliency, Clean Energy and Sustainability- anchoring it on human rights, economic rights, and environmental rights.

“Too often, we look only at economic numbers, but social and environmental dimensions are equally important,” Fuentebella said. He noted that the Philippines’ energy mix is still heavily dependent on imported fuels, making affordability and security urgent concerns. He also highlighted energy efficiency, such as shifting from incandescent bulbs to LED, as a crucial tool for sustainability.

Panel discussions built on this framework. Emmanuel Rubio, President and CEO of MGEN, highlighted the need to balance sustainability with reliable baseload supply. Eric Francia, ACEN President and CEO, pointed to the world’s first transition credits pilot project, developed with the Monetary Authority of Singapore and The Rockefeller Foundation, as a way to responsibly accelerate coal retirement. From the finance sector, Ayato Kurokawa, ADB Senior Energy Specialist, stressed that blended finance mechanisms like the Energy Transition Mechanism (ETM) are vital to make the transition economically viable while safeguarding energy security.

Speakers agreed that achieving the Philippines’ energy transition targets is not just about building renewable projects—it is about ensuring the shift is fair, inclusive, and sustainable.

Do you think the Philippines can strike the right balance between affordability, energy security, and sustainability in its just energy transition?

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