Philippines

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Overview

In recent years, the Philippines has increased its commitment to climate action and its efforts to decarbonise the domestic economy. The Philippine power sector accounts for 58% of the country’s overall carbon emissions and will be an important driver of domestic emission reduction efforts to meet national climate and energy targets. Renewables, such as offshore wind, are expected to play a key role in the transition toward a low-carbon energy mix. With more than 17 thousand kilometers of coastline, the Philippines is estimated to have an offshore wind potential of 178 GW. However, this potential has yet to be leveraged. Alongside a changing power sector, progress on energy efficiency is needed to achieve the country’s emission reduction goals, with energy savings estimated at approximately 2% annually for the residential and commercial sectors. To deliver a clean energy transition, the Philippines requires estimated cumulative investments of over USD 300 billion between now and 2040.

In 2019, the OECD launched the Clean Energy Finance and Investment Mobilisation Programme to strengthen domestic enabling conditions to attract finance and investments in clean energy in emerging economies. The programme supports eight emerging economies in the development of policies and instruments to help scale up a pipeline of bankable clean energy projects. In December 2021, the OECD launched its CEFIM Programme in the Philippines to support the Philippines’ efforts to accelerate finance and investment for clean energy. As part of this Programme, the OECD, in collaboration with the Department of Energy (DoE) of the Philippines and other government institutions, has developed a Clean Energy Finance and Investment Roadmap of the Philippines, which brings together government and private sector stakeholders to agree key actions needed to unlock finance and investment in offshore wind and energy efficiency in public buildings in the Philippines. The report provides a comprehensive overview of the progress to date and the challenges to mobilise near-term finance in those sectors, assist the Philippines transition towards a low-carbon economy, and achieve broader development goals.

The OECD CEFIM Programme and the Department of Energy of the Philippines jointly hosted an event in Manila.

The workshop served as a forum to engage in discussions and exchange ideas on the way forward for the Philippines to unlock finance and investment in offshore wind and energy efficiency, especially in public buildings. This workshop provided a unique opportunity for fostering dialogue and the exchange of good practices between key public and private stakeholders, including from relevant government agencies, private sector, financial sector and international development partners to discuss forthcoming challenges in these clean energy sectors and set the course for a greener, more sustainable economy. 

View the photo slideshow of the event

Speakers

Day 1 Energy Efficiency in Public Buildings

Opening remarks

• Patrick T. Aquino, CESO III, Chairperson, Energy Efficiency Technical Working Group, Department of Energy
  
  

Session I: Policy approaches, smart technology and digital solutions that have proven effective to accelerate energy efficiency in public buildings

Moderator: Géraldine Ang, Team Lead, Clean Energy Finance and Investment Mobilisation (CEFIM) programme, OECD

• Brian Motherway, Head of Energy Efficiency and Inclusive Transitions, International Energy Agency (IEA): “Doubling global progress on energy efficiency” 
  
• David Morgado, Senior Energy Sector Specialist, Asian Development Bank (ADB)
  
• Christopher de la Cruz, CEO, Green Building Council of the Philippines
• Norman Roland Ocana III, Head of Government Affairs and Sustainability Lead, Schneider Electric: “Buildings of the future” 
  
• Sanjay Dube, CEO, International Institute for Energy Conservation (IIEC)
  
  

Session II: Overcoming the project financing challenge to accelerate progress in energy efficiency in the Philippines

Moderator: Ariola Mbistrova, Policy Analyst, Clean Energy Finance and Investment Mobilisation (CEFIM) programme, OECD: “Clean Energy Finance and Investment Roadmap” 

• Alexander Ablaza, CEO at Climargy: “Innovative energy efficiency financing through ESCO project aggregation” 
• Hadrian Vivek, Manager at the Carbon Trust
• Rustico Noli D. Cruz, Vice President, Development Bank of the Philippines
• Sommai Phon-Amnuaisuk, Vice President, Asia-Pacific at the International Institute for Energy Conservation
  
   

Wrap-up and way forward for the Clean Energy Finance and Investment Roadmap of the Philippines

• Michael O. Sinocruz, Director, Energy Policy and Planning Bureau (EPPB), Department of Energy, the Philippines
• Mathilde Mesnard, Deputy Director for Environment, OECD
  
  

Day 2 Official public launch of the Clean Energy Finance and Investment Roadmap of the Philippines

Moderator: Cyril C. del Callar, OECD consultant and former Department of Energy (DOE) undersecretary

Welcome address

• Rowena Cristina L. Guevara, Undersecretary, Department of Energy
  
  

High-level remarks

• Mathilde Mesnard, Deputy Director for Environment, OECD
• David Klebs, Economic Counsellor, Embassy of Germany to the Philippines
• Roderick Planta, Assistant Secretary, National Economic and Development Authority
  
  

Presentation of the Roadmap

• Ariola Mbistrova, Policy Analyst, Clean Energy Finance and Investment Mobilisation (CEFIM) Programme, OECD
  
  

Day 2 Offshore wind

Opening remarks

• Marissa P. Cerezo, Chairperson, Renewable Energy - Technical Working Group, Department of Energy
  
  

Session I: Policy and regulatory priorities to unlock financing for offshore wind projects, including through auction design

Moderator: Cyril C. del Callar, Del Callar Law (DLC)

Opening remarks

• Hon. Laure Beaufils, British Ambassador to the Philippines
  
  

• Matthew Taylor, Head of the Singapore Office, Green Giraffe: “Offshore wind market today” 
• Ann Margret Francisco, Philippines Country Lead, Global Wind Energy Council (GWEC)
• Bjorn Rosenberger, Co-founder and Head of Offshore Wind, Triconti ECC Renewables Corporation
• Rune Damgaard, Co-CEO, Copenhagen Offshore Partners
• Sharissa Funk, Energy Sector Counsellor, Royal Danish Embassy Viet Nam: “Policy and regulatory priorities for offshore wind development” 
  
  

Session II: Delivering on critical port infrastructure to support an emerging offshore wind market in the Philippines

Moderator: Ricardo G Barcelona, PhD - Adjunct Professor, Asian Institute of Management

• Giovanni Carlo J. Bacordo, Undersecretary, Department of Energy
• Oliver Butalid, President, PNOC Philippine National Oil Company: “Accelerating energy transition” 
• Joyce Anne Asilo, Business Development Manager, NIRAS International Consulting Philippines: “Offshore wind ports” 
• Raymund M. Pascual, Country Manager at BlueFloat Energy Philippines: “BlueFloat Energy Philippines offshore wind ports” 
• Shigeru Yamamura, Principal Energy Specialist, Asian Development Bank
  
  

Session III: Business models for grid expansion and upgrade to accommodate new investments in offshore wind in the Philippines

Moderator: Ariola Mbistrova, Policy Analyst, Clean Energy Finance and Investment Mobilisation (CEFIM) Programme, OECD

• Camille Paillard, Energy Analyst, International Energy Agency: “Electricity grids and secure energy transitions” 
• Fortunato C. Leynes, President and CEO, National Transmission Corporation (TransCo)
• J. Ildebrando B. Ambrosio, President, Wind Energy Developers Association Philippines
• Feng Liu, Senior Energy Specialist, World Bank
• Romeo Pacudan, Philippines Grid Diagnostics, Energy Transition Partnership: “Philippine grid diagnostic and roadmap for smart grid development” 
  
  

Department of Energy Updates

• Clarita De Jesus, OIC Chief, Wind Energy Management Group, Department of Energy
  
  

Wrap-up and closing remarks

• Geraldine Ang, Team Lead, Clean Energy Finance and Investment Mobilisation (CEFIM) Programme, OECD
• Michael O. Sinocruz, Director, Energy Policy and Planning Bureau (EPPB), Department of Energy, the Philippines