20 August 2025 at 09:28 pm IST
The Philippines had taken a decisive step in strengthening its climate agenda by preparing to launch a Carbon Credit Policy for the energy sector. The policy was designed to enable participation in growing carbon markets while accelerating the country’s shift toward cleaner power. The initiative outlined rules for generating and trading carbon credits with integrity, ensuring that every verified ton of reduced emissions could unlock investor confidence. By creating a trusted framework, the policy encouraged private sector investment in renewable energy and emissions-reduction projects, positioning the Philippines as a regional leader in sustainable energy. A public consultation was held on August 19, bringing together more than 120 stakeholders from across the energy value chain to refine roles, responsibilities, and mechanisms for effective implementation. This participatory approach reinforced transparency and readiness for integration into international carbon markets. Building on a 2024 cooperation agreement with Singapore under Article 6 of the Paris Agreement, the new policy aligned with the country’s Energy Plan 2023–2050, which focused on scaling renewable energy, improving efficiency, and advancing a low-carbon energy system. This milestone marked a turning point in the Philippines’ journey toward a resilient, sustainable energy future.