THE Philippine private sector's investment in the green economy reached $1,464 million in 2023, rising by 57 percent when compared to the previous year. The country continues to make an upward trajectory in the 2024 Green Index Score, rising by three ranks to reach 39 out of 100.
THE Philippine private sector's investment in the green economy reached $1,464 million in 2023, rising by 57 percent when compared to the previous year. The country continues to make an upward trajectory in the 2024 Green Index Score, rising by three ranks to reach 39 out of 100. However, an investment gap exists and significant efforts must be made to meet the required capital investment of $16.6 billion.
' This planned solar project in Luzon is expected to develop 3,500 megawatts of solar panels and 4,000 MW hours of battery energy storage.Other movements have spurred investment rise. The Renewable Energy Act was amended in 2023 to enable full foreign ownership of renewable energy projects. 'Green Lanes' have also been established to expedite processes for investors and their companies to obtain licenses and permits.
2023 Green Investments Up By 57%
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