MANILA, Philippines - The United Kingdom has commended the Philippines for taking steps to tackle climate change with its Renewable Energy (RE) Law which supports the country’s goal of 60 percent energy self-sufficiency by 2010.
British Ambassador Peter Beckingham said the RE Law could open doors for the Philippines to capture part of the more than $70-billion investments in renewable energy development world-wide by providing incentives to investors, equipment manufacturers and suppliers.
Beckingham urged local government units (LGUs) to push for alternative sources of energy for their constituents by opening their municipalities to investors in renewable technologies.
The British Embassy Manila funded a forum held recently attended by municipal mayors from across the nation and representatives of development agencies to build links between local government units (LGUs) and local investors in coastal areas to explore sustainable, low-carbon energy solutions.
Mayor Elmer Codilla of Kananga, Leyte related the economic benefits to his municipality of hosting a number of geothermal plants which provide 40 percent of the power requirement in Luzon.
From 1992 to 2008, Kananga has received over P200 million in royalty shares based on the gross receipts of the Energy Development Corporation, in addition to the millions in annual taxes paid by the operators.
“Such huge revenues and benefits enjoyed by the host LGU has paved the way for the elevation of Kananga, Leyte into a first class municipality. Because of this, the (municipality) has embarked on projects in education, health, agriculture, infrastructure and other priority programs with the use of proceeds from EDC,” Codilla said.
Beckingham added that Britain has taken advantage of the demand for green projects, which opened major opportunities for British businesses to create jobs in the new low-carbon economy.
“This has grown into a £3-trillion market employing nearly 900,000 people in the UK. The Philippines can do the same,” he said.