Philippines Government Steps Back From Coal

first_imgPhilippines Government Steps Back From Coal FacebookTwitterLinkedInEmailPrint分享From ABS-CBN News Philippines:The Climate Change Commission said Thursday that President Benigno Aquino III has set into motion an urgent and comprehensive review of the government’s energy policy to cut down reliance on coal and move to a low-carbon future.Aquino, who chairs the Climate Change Commission, signed a resolution mandating the commission to facilitate “a national policy review and framework development on energy, through a whole-of-nation approach, in accordance with a low carbon development pathway and national goals and targets for climate change mitigation and adaptation, disaster risk reduction and sustainable development” with other government agencies in the next six months.The new resolution sets a clear government position on coal-fired power plants, which comprises the biggest source of man-made carbon emissions.Tim Buckley of the Institute for Energy Economics and Financial Analysis (IEEFA) said that the government’s clear position on its energy source will avoid the increased stranded asset risk already evident in other countries.“This move by the Philippines is entirely commercially logical, and avoids the increased stranded asset risk already evident across Europe, America and China’s electricity sectors,” Buckley said.De Guzman is hopeful that the new policy will positively impact the country’s economy.“Philippine climate ambition is predicated on changing our energy pathways that ensure we send the right policy signals to the investment community and generate jobs for the modern economy,” De Guzman said.Philippines moves to cut dependence on coallast_img

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