Toyota Motor Philippines (TMP), the largest automotive company in the country, has called for the implementation of competition policies that will help establish a renewable energy-powered economy faster and sooner in an online press conference on Thursday.
In a joint statement with AC Energy, First Gen, SN Aboitiz Power Group, and other leading companies in the country, TMP called on the Philippine government to accelerate the clean energy transition:
âFull and rapid implementation of the Green Energy Option Program (GEOP) signals that the Philippines has a clear long-term vision for growing its energy sector to better meet future demand through stable, market-based mechanisms that deliver reliable and affordable renewable energy, while leveraging private sector capital to reduce public spending on power generation investments.â
Echoing this during the OurEnergy2030 virtual presser was Toyota Environment Section Manager Mark Marcelo, saying that âthe GEOP is a game changer as it will give more power for our small and medium enterprises (SMEs) in order to transition to a renewable energy environment. This will help us to be more globally competitive and might be one of the considerations for other multinational companies in transferring their operations in the Philippines.â
A statement of support was also issued by Senator Emmanuel D. Pacquiao, who said âwe need to focus on the development of renewable energy especially solar, wind, hydro, ocean wave and geothermalâresources which are abundant in our country but tapped improperly and inadequately.â
Reacting to the press meetâs outcomes, Atty. Pedro Maniego Jr., senior policy advisor of the Institute for Climate and Sustainable Cities, said: âThe call of Toyota conveys unequivocally the private sectorâs sentiment on sustainable development anchored on clean energy. Businesses could not survive and flourish without reliable, affordable, and secure power.â
âOnce second only to Japan in Asia, the Philippines had descended near the bottom in competitiveness ranking. From being one of the financial, corporate and industrial centers in Asia, multinationals had since moved to China, Korea, and our Asean neighbors. Expensive and unreliable power was identified as a major reason for the exodus.â
Maniego said the Philippines must âgo for the goldâ in its energy transition, the top prize being a rapid shift to flexible generation powered by the countryâs abundant renewable energy sources.
âToyota is correct in saying that the countryâs early, 100 percent realization of its renewable energy targets would serve as a magnet for investments, helping build âstrong competitive advantageâ compared to what other countries offer.â
Image courtesy of toyota.com.ph