PE2: Energy efficiency investments can create over 9 million jobs by 2040
QUEZON CITY, 14 September 2024 – Philippine Energy Efficiency Alliance (PE2) president and Asia-Pacific ESCO Industry Alliance (APEIA) co-chair Alexander Ablaza said that over 9 million green jobs can be generated in the Philippines through 2040, if the national economy succeeds in mobilizing PHP 12 trillion in energy efficiency (EE) capital flows. Ablaza explained that a PE2 study shows that EE investments can generate 45% more jobs than infrastructure projects for the same amount of stimulus or capital funding, because the emerging EE industry is the most labor-intensive subsector in the energy sector as a function of the volume of capital expenditures. These were discussed earlier today during the National Economics Summit (NES), an annual symposium organized by the UP Economics Society that brings together students from all over the Philippines to discuss, debate, and consolidate views and opinions on issues concerning the socioeconomic and political state of the country.
Now in its 14th year, NES 2024 was held at the University of the Philippines (UP) Institute of Biology Auditorium with the theme “The Green Leap: Pioneering Sustainable Economic Development to Achieve Global Goals.” The Summit aimed to investigate the country’s progress towards sustainable economic development by exploring agricultural security, maritime affairs, and energy security. Attended by 183 delegates, its participants engaged in exploring unique perspectives, forging meaningful partnerships, and working toward a more prosperous future for a sustainable nation within a dynamically evolving world.
NES 2024 was opened by a plenary session with keynote speaker Assistant Secretary Reynaldo Cancio from the National Economic and Development Authority (NEDA) who shed light on the Philippine Development Plan (PDP) as the prominent framework for development. This was followed by a series of info sessions and a panel discussion with Ablaza, Assistant Director Armida Andres of the Biodiversity Management Bureau of the Department of Environment and Natural Resources (DENR), and Dr. Roehlano Briones of the Philippine Institute for Development Studies (PIDS). The Summit concluded with the presentation of the top three teams for the case competition, consisting of a case analysis and project pitch, which focused on marine ecosystems and its impact on the Philippine economy.
The UP Economics Society (UP Ecosoc) is a non-stock, non-profit, socio-civic organization in UP Diliman based in the UP School of Economics. With over 200 current members, more than 2,240 alumni, and being one of the founding organizations of the Junior Philippine Economics Society, UP Ecosoc remains at the forefront of promoting civic responsibility through the various socio-civic initiatives on which it embarks. The 66-year old organization is committed to its mission of providing quality development towards all of its stakeholders.
