Two young girls gather pebbles along the picturesque shore, set against the backdrop of the magnificent Bangui Wind Farm. This impressive wind farm is comprised of twenty towering turbines, each standing at a majestic height of 70 meters. The turbines, arranged in a single row, stretch along a nine-kilometer shoreline in Ilocos Norte’s Bangui Bay.
President Bongbong Marcos Jr. is actively seeking support from the business sector to advance the use of renewable energy. During his speech at the 3rd Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC III) Meeting in Cebu City, he emphasized the importance of renewable energy and the need for the business sector’s assistance in achieving this goal. Shared investment between governments and businesses would alleviate the financial burden on governments, while also benefiting from the expertise of businesses in planning, operations, execution, and ensuring returns on sustainability projects.
Marcos highlighted the value of utilizing data and models obtained from business activities. For instance, he cited the use of sustainable and clean fuels in transitioning the transportation sector, building green corridors, and modernizing public transportation. Analyzing fleet capacity, travel time, fuel consumption, and other relevant data is essential in making well-informed decisions for these projects.
To further enhance cooperation and technical collaboration within APEC, Marcos stressed the need for standardized data templates, indicators, and baselines across economies. This would facilitate data collection and exchange, contributing to stronger technical cooperation.
Marcos also emphasized the importance of responsible business conduct and sustainable practices in achieving a balance between rapid growth and environmental preservation. He called for the business sector’s leadership in setting up standards for responsible business conduct.
Marcos was the keynote speaker at the opening of the ABAC III Meeting in Cebu City, accompanied by Trade and Industry Secretary Alfredo Pascual and Special Assistant to the President, Antonio Lagdameo. The ABAC, attended by over 200 delegates from APEC member-economies, focused on various topics such as micro, small, and medium-sized enterprises (MSMEs), artificial intelligence (AI), and environment, social, and governance (ESG) investing.
Sabin Aboitiz, President and CEO of Aboitiz Equity Ventures and the ABAC member for the Philippines, expressed their goal of giving Asia a stronger voice in sustainability programs. Aboitiz noted the increasing interest among investors in the Philippines.
The Philippines hosted the ABAC III Meeting this year, with Cebu City as the venue for its third leg. The event aimed to showcase the roles of MSMEs, AI, and ESG investing, among others.
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