The Philippines is turning to Germany to further foster strong business partnerships and collaboration particularly in renewable energy being European Union’s biggest economy both in GDP and population and a global force in technology and innovation, President Ferdinand R. Marcos Jr. said on Tuesday.
In his keynote message during the Philippine-German Business Forum in Berlin, Germany, President Marcos said the Philippines is grateful for the interest of German companies to support the country’s commitment to sustainability and climate resiliency through the renewable energy investments it received in 2023.
“To further support these investments, we have put in place several energy transition policies including investment enablers designed to incentivize energy efficiency,” he said during the forum.
“We are also working on developing programs that will support and facilitate the efforts to decarbonize our economy. I have high hopes that we can welcome the opportunity for greater cooperation on climate change and energy transition,” he stated.
Aligned with the efforts on decarbonization, the Philippines, he said, is positioning itself as a regional hub for smart and sustainable manufacturing by attracting sustainability-driven strategic investments powered by renewable energy.
The country also recognizes that there are complementarities to be explored in critical minerals, and it is open to having a dedicated dialogue with German companies on the sustainable processing of green metals to be supported by strong adherence to high labor and environmental standards.
The Philippines also takes pride in being an ideal destination for complementation in both manufacturing and services, he said.
And with the recent global challenges, the President underscored the dangers of limited sourcing, or concentrating supplies in a single country, as he urged for the urgent need to diversify production locations and explore alternative materials to de-risk and minimize disruptions in supply chains.
“Moreover, the transition to a low-carbon or net-zero scenario has further propelled the de-risking trend,” Marcos told the forum.
“The Philippines and Germany both have aspirations for de-risked and diversified production and market value chains, which future-proofs our economies from the geo-political vagaries of our times,” he added.
Germany is the global leader in energy storage technology for renewables, which could aid the Philippines in the deployment of renewable energy (RE) projects.
The country has put a special focus on offshore wind (OSW) development, to meet the target of at least 35 percent RE in electricity generation by 2030 and 50 percent by 2040. | PND
