The government needs to refocus its borrowing to aggressively pursue sustainable energy initiatives, which multilateral institutions are willing to fund on favorable terms, in response to the rising cost of traditional fuels, economists said. READ:
“The ongoing constraints posed by the current global landscape should highlight the importance of alternative sources of energy,” ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail. “Other nations have decided to accelerate their plans to shift to renewable forms of energy to ensure stable supply chains while simultaneously championing sustainability.”
The Philippines has set a goal of cutting its greenhouse gases emissions by 75% by 2030, particularly for agriculture, waste management, industry, transport, and energy. Recent loans that the government recently took on are not cause for concern, but attention should be paid to how productively they are deployed, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Making art that matters - BusinessWorld OnlineFollow us on Spotify BusinessWorld B-Side Chris B. Millado joined the Cultural Center of the Philippines (CCP) after the People Power revolution in 1986 toppled the dictator Ferdinand E. Marcos, Sr. The CCP was the pet project of first lady Imelda Romualdez Marcos whose ideas of “the good, the true, and the beautiful” were reflected in […]
Read more »
Peso may weaken on BSP’s dovish tone - BusinessWorld OnlineTHE PESO may continue to depreciate versus the dollar this week on dovish hints from Bangko Sentral ng Pilipinas (BSP) officials ahead of its review and despite an aggressive rate hike by the US Federal Reserve.
Read more »
Relief rally possible ahead of BSP rate decision - BusinessWorld OnlineThe benchmark Philippine Stock Exchange index (PSEi) fell by 61.45 points or 0.96% to close at 6,331.56 on Friday, while the broader all shares index declined by 40.29 points or 1.17% to 3,394.95. READ:
Read more »
DoH: Waning immunity may spur severe infections - BusinessWorld OnlineMORE Filipinos are expected to suffer from severe and critical coronavirus infections by August amid lax health protocols, slow booster uptake and the entry of more contagious Omicron variants, according to the Department of Health (DoH).
Read more »
US supports Philippines in South China Sea, State Department says - BusinessWorld OnlineWASHINGTON – The United States supports the Philippines in calling on China “to end its provocative actions and respect international law in the South China Sea,” the State Department said on Friday. The Philippines last week lodged new diplomatic protests against Chinese maritime activities within Manila’s 200-mile (321 km) exclusive economic zone. It accused China […]
Read more »