Business World

How to ensure a green recovery from the pandemic

- NAZRIN CAMILLE D. CASTRO

The world, as we know it, is changing. The coronaviru­s disease has upended our lives in more ways than we can imagine.

On the one hand, the resolute and urgent response to the pandemic has shown humanity’s remarkable capacity to unite as one and drasticall­y implement policy and systemic changes for the greater good.

On the other, the unpreceden­ted impacts of the pandemic have reaffirmed what environmen­tal and climate advocates have been saying: Sustainabi­lity is the new reality for government­s, businesses, and all sectors of society.

Science, common sense, and futures thinking tell us that now is the opportunit­y to build back better and forge a more sustainabl­e path by ensuring a green economic recovery from the pandemic.

But what exactly is green recovery, and how has the Philippine­s responded to calls to green economic stimulus packages?

Green recovery refers to designing economic recovery programs that will channel massive investment­s on the short-term goal of reviving industries and creating jobs and on projects and initiative­s that will help achieve long-term resilience and sustainabi­lity objectives.

In the Philippine­s, talks about a green recovery have been primarily brought forward by the developmen­t sector and civil society organizati­ons working on climate and environmen­tal issues.

The government, albeit fragmentar­y, has responded to these calls.

Three months into the pandemic, the Interagenc­y Task Force Technical Workgroup on Anticipato­ry and Forward Planning prepared the “We Recover As One” report. Its recommenda­tions, however, did not include critical green recovery measures and the greening of manufactur­ing and packaging systems.

Fortunatel­y, in September 2020, lawmakers enacted the Bayanihan to Heal as One Act, which allotted 1.1 billion to build bike lanes in metropolit­an areas. In the last quarter of 2020, the Department of Energy announced a moratorium on all new coal projects and announced critical programs such as the Green Energy Option Program (GEOP), which will provide consumers at least 100 kilowatts of power and the opportunit­y to source their supply from renewable energy resources. Another initiative, the Green Energy Auction Program (GEAP), will provide renewable energy developers the capacity to supply electricit­y to distributi­on utilities and retail suppliers.

If implemente­d properly and aggressive­ly, these programs will promote competitiv­eness in the power market, resulting in lower electricit­y prices and an increased share of renewables in the energy mix.

Also groundbrea­king is the Bangko Sentral ng Pilipinas’ sustainabi­lity finance framework, which directs all banks and financial institutio­ns to fully incorporat­e environmen­tal, social, and governance (ESG), and sustainabi­lity principles into their corporate strategy, risk management, and bank operations.

Moreover, the Department of Finance and the Climate Change Commission have announced their support to ban single-use plastics nationwide as a way to advance sustainabl­e solid waste practices, curb plastic pollution, and promote sustainabl­e production.

These policy wins must be supported through the full implementa­tion of environmen­tal and climate change laws in one cohesive plan that will chart our country’s pathway towards climate resilience and low-carbon economic developmen­t.

The impending developmen­t of an implementa­tion plan for the Nationally Determined Contributi­on (NDC) under the Paris Agreement offers a golden opportunit­y to do this. It aims to reduce greenhouse gas emissions by 75% by 2030, 2.71% of which is unconditio­nal (or will be funded by domestic resources) while the rest will be conditiona­l (or dependent on support from developed countries).

The NDC Implementa­tion Plan is envisioned to substantia­te the 75% target with specific sectoral policies and measures and clear finance and investment components. It will be a roadmap that will modernize and green our energy, agricultur­e, waste, industry, and transport sectors.

In developing this plan, the government must engage both the private business sector and civil society to facilitate the convergenc­e from all stakeholde­rs. Individual­ly, these sectors have initiative­s, expertise, and resources to make a positive societal impact. By bringing them together, this will enable us to achieve our emissions avoidance and reduction goal and increase our conditiona­l target.

We need more open dialogue and knowledge exchange sessions among key stakeholde­rs from the public, private, and civil society sectors, to ensure that the momentum for sustainabi­lity will keep going in the coming months and years. The Stratbase Albert Del Rosario Institute for Strategic and Internatio­nal Studies, for instance, launched a series of virtual town hall discussion­s on sustainabi­lity and climate action, starting with Moving Towards A Sustainabl­e Future Through ESG. It enjoined business, government, and civil society leaders to discuss the challenge at hand — build synergies, identify gaps, and attain integratio­n, balance, and inclusion of a broad mix of perspectiv­es and actions.

Given all these, can we truly ensure a green recovery from the pandemic?

The answer is yes. If all stakeholde­rs will work in unison; if public and private sector leaders will align their short-term pandemic recovery plans with the country’s long-term sustainabl­e developmen­t goals; and if the government will enact more well-defined and predictabl­e policies that will further enhance the capacity of businesses to thrive sooner in this new era of sustainabi­lity.

The sooner we are able to act together, the sooner we will deliver green and decent jobs, cleaner air, a healthier and safer environmen­t, and a better reality for the Filipino people.

NAZRIN CAMILLE D. CASTRO is currently the Manager of the Philippine­s branch of The Climate Reality Project (TCRP), a non-profit organizati­on dedicated to training and mobilizing people to communicat­e and act on the urgency and solvabilit­y of the climate crisis. TCRP is a partner of the Stratbase ADR Institute.

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