PE2 asks businesses to integrate EE in corporate strategies during ICD-ICSC event
MAKATI CITY, 19 November 2019 – The Philippine Energy Efficiency Alliance (PE2) reached out to members of the Institute of Corporate Directors (ICD) and experts of the Institute for Climate and Sustainable Cities (ICSC), asking boards of companies to incorporate energy efficiency (EE) in their corporate strategies, during an ICD-ICSC Distinguished Corporate Governance Speaker Series (DCGSS) event held at the Makati Diamond Residences earlier today.
PE2 president Alexander Ablaza briefed a large audience of corporate directors on the main features of Republic Act 11285 and how EE projects can be financed either through on- or off-balance sheet modalities. Ablaza declared, “Energy efficiency is an exciting new energy asset class and economic activity that will need to harvest 182 Mtoe in wasted energy with the mobilization of at least P 12 trillion in EE capital through 2040. Regardless of sector, all energy end-users will have to mainstream energy efficiency as the economy’s first fuel.”
The energy panel discussion was moderated by Atty. Pedro H. Maniego Jr., formerly with the Power and Energy Working Group of the National Competitiveness Council and former Chairman of the National Renewable Energy Board. Fellow discussants included Dr. Reynaldo Casas of Advance Renewable Energy and Viking Logarta of ICSC.
The DCGSS event entitled, “Integrating Sustainability and Innovation in Corporate Strategy,” is a joint activity of ICD Philippines, in partnership with Ayala Corporation and ICSC. This quarter’s DCGSS events feature discussions on the following topics: [a] the impact of climate change and sustainability on global socio-economy and to company growth; [b] The need to discuss strategy integrating sustainability with a sense of urgency and new approaches in the boardroom; [c] Why companies need to start measuring and disclosing sustainability practices and gains; and, [d] The advantages for companies investing in green technologies and sustainable practices.
Both ICD and ICSC believe that sustainability and innovation are key drivers for relevance and competitiveness. Businesses are now redefining their strategic approach as boards endeavor to create long-term value for people, planet, and profit by addressing challenges in climate change and disruptive technologies.
