March 1, 2018. At the 2018 Regional Business and Climate Summit in Clark, Pampanga, business and industry leaders from Region III today signed a Pledge of Cooperation to support the development of low carbon and climate-resilient initiatives that will help address impacts of climate change within the region.

With the theme of “Business Opportunities in Climate Change,” the summit, organized by the Climate Change Commission (CCC), aims to discuss how impacts of climate change affect sustainability of businesses and to explore climate initiatives and financing options for green and climate-smart projects and investments that the private sector could undertake.

“Frequent supply chain disruptions due to natural hazards, such as typhoons, flooding, and landslides, have made our production inputs costlier, and our revenues and profit margins abated. Our employees, the life and blood of our businesses, are also the direct victims of these hazards, which we consider climate-related,” said Climate Change Secretary Emmanuel De Guzman.

“It is high time for the private sector to break away from business-as-usual. Investing towards a low carbon and climate-smart economy is the way to go to ensure a safer, more secure, and more sustainable future for all,” De Guzman added.

De Guzman also emphasized that Region III, as the second fastest growing economic region in the country, could help sustain the transformation of industries towards a low carbon development.

According to the National Economic Development (NEDA), Region III accounted for 9.5% of gross regional domestic product in 2016.

“As we anticipate business activities to intesify within the region, we also want to ensure that the industry leaders are aware of our prevailing climate risks and hazards. We also want to solicit their support in implementing measures that will enhance the resilience of our country against climate impacts,” de Guzman said.

Officials from Ayala Land, Inc., Nestle Philippines, Inc., SasonbiSolar, and the Philippine Business for the Environment presented their climate change initiatives and how they are mainstreamed into their business procedures.

Moreover, panel discussions by officials from the Bank of the Philippine Islands (BPI), Department of Environment and Natural Resources (DENR), Department of Trade and Industry - Boards of Investments (DTI-BOI), and Allotrope Partners provided input to business and industry leaders in exploring financing options for green and climate-smart investments.

The 2018 Regional Business and Climate Summit is organized in partnership with the United Nations Development Programme Low Emission Capacity Building (UNDP-LECB) Philippine Project, Philippine Chamber of Commerce and Industry (PCCI), Metro Angeles Chamber of Commerce and Industry (MACCII), and the Philippine Business for the Environment (PBE).

In 2017, regional summits were conducted in Cebu, Laguna, and Davao to strengthen the partnership between the government and business sector in advancing the country’s climate change advocacy and agenda.

“The business sector is an indispensable partner of our government to make a difference in our country’s future. This partnership will be crucial in advancing our cause and realizing the benefits and progress we all desire for our country and our people. Together, let us work towards a climate-resilient nation that the generation of Filipinos today and tomorrow truly deserve,” De Guzman concluded.