Decarbonization investments need consistent, long-term policy support – Ablaza
MAKATI CITY, 19 September 2024 – Philippine Energy Efficiency Alliance (PE2) president and Climargy CEO Alexander Ablaza told business leaders that a depoliticized, consistent and long-term policy framework, insulated from elective cycles and changes in government administration, is needed to attract private capital toward energy efficiency and other decarbonization projects. He said this during two panel discussions at the WTW Strategic Risk Conference 2024 held today at the Fairmont Hotel.
In the breakout session on Climate Change and Energy Transition where Ablaza joined co-panelists Milo Alejo, Head of Risk and Insurance Management of ACEN, Aniket Jalgaonkar Climate Change Lead for APAC of AXA Climate, and Frank Thiel, Managing Director of Quezon Power Philippines Ltd. Co. with Regina Hing, Anchor and Business News Editor of OneNews as moderator.
The discussion revolved around risk management practices among energy/power firms and the industry’s most pressing risks, opportunities, and trends, including climate change, geopolitical risk, the energy transition, and the country’s overall risk landscape. Ablaza amplified the need for more specialized insurance products aimed at de-risking third-party capital investments in energy efficiency improvements in the buildings and industrial sectors. He explained that energy savings insurance will enable smaller energy service companies (ESCO) to access debt and equity project capital and that credit risk guarantees will also allow ESCOs to go down-market and engage middle market and medium-sized enterprises as host entities of their energy efficiency investments.
Ablaza also participated in the much-awaited plenary C-Suite Forum moderated by Wilfredo G. Reyes, columnist and former Editor-in-Chief of BusinessWorld with other panelists, Atty. Roel A. Refran, Executive Vice President and Chief Operating Officer of the Philippine Stock Exchange (PSE) and Frank Thiel, Managing Director of Quezon Power Philippines Ltd. Co. The C-Suite panel shared invaluable insights on navigating the complexities of emerging and interconnected risks. They highlighted their perception of current risks faced by Philippines businesses and emphasized a comprehensive approach that accounts for the interconnected nature of modern business challenges.
The WTW Strategic Risk Series is a regional series of conferences created for diverse stakeholders, including industry leaders and risk management professionals, from leading organizations across various industries to converge and deliberate on the unique challenges and opportunities in the region's rapidly evolving risk landscape. The forums aim to build a stronger, more informed, and well-connected risk community in Asia across insureds, (re)insurers, and WTW.
The 2024 series, themed as “Unlocking The Philippines’ Potential 2040 and Beyond” where over 170 attendees gathered and engaged in conversations about pivotal risk trends and challenges specific to the region, enabling a smarter way to risk.
