Pascual urges firms to address climate crisis

TRADE and Industry Secretary Alfredo Pascual urged companies engaged in sustainability and green energy to invest and expand in the Philippines in a bid to address the worsening global climate crisis.

DEPARTMENT of Trade and Industry (DTI) Secretary Alfredo Pascual. PHOTO BY J. GERARD SEGUIA

DEPARTMENT of Trade and Industry (DTI) Secretary Alfredo Pascual. PHOTO BY J. GERARD SEGUIA

DEPARTMENT of Trade and Industry (DTI) Secretary Alfredo Pascual. PHOTO BY J. GERARD SEGUIA

Pascual acknowledged the economic impact of the worsening climate crisis during the Asia-Pacific Economic Cooperation (APEC) Philippines Sustainability Roundtable on November 16.

“We invite investors to join us on this transformative journey towards a sustainable and green future for all … let us forge a path where economic growth, technological innovation, and environmental stewardship intersect, ensuring a legacy of sustainability for generations to come,” said Pascual.

He highlighted the government’s efforts that are being undertaken, including the active pursuit of waste management solutions through studies, consultations, and awareness campaigns.

Pascual also laid out the established comprehensive legislations to address plastic pollution including the Republic Act 9003 or the “Ecological Solid Waste Management Act of 2000” and the National Plan of Action for the Prevention, Reduction and Management of Marine Litter.

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He also emphasized the Extended Producer Responsibility Act of 2022 that addresses our country’s contribution to the global plastic pollution problem, where 40 percent of global plastic waste ends up in the ocean.

“The law also encourages producers to engage in recovery schemes, establish waste collection hubs, and collaborate with local government units to set up recycling centers, lessening the burden on the latter and fostering collective action against plastic pollution,” said Pascual.

For energy, he highlighted the country’s strategic sustainable initiatives focused on increasing renewable energy generation.

“Our agenda is set against the backdrop of an escalating global climate crisis that is both urgent and transformative. In the Philippines, our resolve is unyielding,” said Pascual.

“We are participants in the dialogue on climate change and proactive architects of the sustainable future with renewable energy and robust recycling systems forming the twin pillars of our strategy,” he added.