Key recommendations from the event included establishing carbon mitigation and carbon reduction plans and strategies, engaging in partnerships with policymakers and regulators, investing in building the organizational capacity and systems, facilitating regular meetings between project developers and financial institutions, and encouraging real economy borrowers and clients to implement the net zero transition.
UN ESCAP DIRECTOR HAMZA ALI MALIK PROVIDES INSIGHTS INTO THE ROLE OF TRANSITION FINANCE IN ACHIEVING SUSTAINABLE DEVELOPMENT GOALS, HELPING PARTICIPANTS UNDERSTAND ITS BROADER LANDSCAPE TO CARBONPH COALITION.
Participants gained practical knowledge in understanding the concepts and impacts of transition finance, its contributions to national policy development, and what would be the actionable strategies to overcome the barriers and how each industry can drive sustainable finance at scale. GT Capital and the Aboitiz Group remain committed to fostering collaboration and innovation in sustainability efforts, with outcomes from this event contributing significantly to creating a resilient, inclusive, and sustainable low-carbon economy.
Ongoing discussions between private industries and NGOs on transition finance reveal both opportunities and challenges. Sectors like banking, manufacturing, and property development are identifying their transition needs, focusing on sustainable finance and energy shifts. Key challenges include legal and regulatory risks, financing difficulties, and the need for clear government policies. For NGOs, they heavily advocate concrete climate actions and rely heavily on external grants and fundings. There’s a shared agreement on the importance of incentives like tax benefits and transparent ESG reporting to ease the transition. Overall, these conversations highlight the importance of public-private collaboration to overcome barriers and promote sustainability.
Through strategic collaboration among leading private sector companies, CarbonPH significantly enhances the scale and effectiveness of nature-based solutions, leveraging extensive experience in sustainability initiatives. Its mission is to address climate change through practical solutions and strategic policy advocacy, guided by a shared dedication to sustainable development.
CarbonPH firmly believes in the power of synergy within the private sector that promotes environmental protection and stewardship, actionable and realistic climate commitment, and promotes mechanisms that can raise the capacity of developing countries in working towards our sustainability goals.
About CarbonPH
CarbonPH is a pioneering initiative marking a historic milestone for the Philippines, driving the nation’s journey towards a sustainable and environmentally conscious future. By strategically collaborating with leading private sector companies, we enhance the scale and effectiveness of nature-based solutions, leveraging extensive experience in sustainability initiatives. Our mission is to address climate change through practical solutions and strategic policy advocacy, guided by a shared dedication to sustainable development.
At CarbonPH, we believe in the power of synergy within the private sector to create an enabling environment. Our member companies contribute essential resources, expertise, and innovation to support the country’s transition to a lower carbon economy. Through investments in nature-based solutions, capacity building, and policy development, CarbonPH sets a powerful precedent for corporate responsibility, collaboration, and the pursuit of a greener economy in the Philippines and beyond.
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