CEBU CITY— GT Capital Holdings, Inc. (GT
Capital), in collaboration with Aboitiz Equity Ventures, Inc. (AEV) hosted the 7th
meeting/session of the CarbonPH Education Series titled "Greening the
Economy: Opportunities and Challenges of Transition Finance" that brought
together industry leaders and sustainability champions to discuss the pivotal
role of transition finance in advancing a low-carbon economy.
"The increasing impacts of climate change
to our economy highlight the need to transition to a low-carbon economy. With
this session, we aim to provide a comprehensive understanding of transition
finance, as it covers strategies, instruments, and policies to facilitate the
flow of capital toward sustainable projects," Ginggay Hontiveros-Malvar,
AEV Chief Reputation and Sustainability Officer and Aboitiz Foundation
President opened the session.
Malvar thanked the event organizers particularly
the GT Capital team led by Joyce Baldueza-de Leon, Chief Risk Officer and Head
of Sustainability, and the Aboitiz Group team led by May Perez, AVP for
Sustainability.
Baldueza-de Leon welcomed representatives from
the private sector during the CarbonPH meeting and her address highlighted the
crucial role of corporate stakeholders in advancing sustainability initiatives
and tackling climate change.
The 7th CarboPH meeting gathered
private sector representatives connecting virtually with onsite attendees,
discussing the meeting’s purpose-driven value to collaborate on advancing
carbon management and sustainability initiatives.
Participants explored opportunities and
challenges associated with financing sustainable initiatives at both national
and industry levels, seeking to identify barriers and innovative solutions.
Keynote
speaker provides insights into the significance of transition finance
The keynote speaker, United Nations Economic
and Social Commission for Asia and the Pacific (UN ESCAP) Director of the
Macroeconomic Policy and Financing for Development Hamza Ali Malik, provided
invaluable insights into the significance of transition finance in achieving
sustainable development goals.
His guidance helped participants understand the
broader landscape of transition finance. Malik provided insights into the role
of transition finance in achieving sustainable development goals, helping
participants understand its broader landscape to CarbonPH coalition.
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.
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 remained
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 revealed 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 on CarbonPH issue
Key challenges include legal and regulatory
risks, financing difficulties, and the need for clear government policies. For NGOs, they advocate concrete climate
actions and rely heavily on external grants and more funding.
There's a shared agreement on the importance of
incentives like tax benefits and transparent ESG reporting to ease the
transition. Overall, these conversations highlighted 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.
Impact of
CarbonPH initiative
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, it 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. It believes in the power of synergy
within the private sector to create an enabling environment.
Its 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.