PEZA partners with Japan firm to push decarbonization in ecozones
The Philippine Economic Zone Authority is keen on attracting more investors. (Photo from PEZA/Facebook)
MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has partnered with a Japan-based sustainability solutions firm to advance decarbonization efforts within its economic zones. This is part of efforts towards promoting sustainable and environmentally responsible industrial development.
That is why PEZA signed a memorandum of understanding with Zeroboard Inc. last March 14.
The partnership aims to promote sustainable industrial growth and boost global competitiveness. It provides help to PEZA-registered export enterprises in tracking, analyzing and reducing their greenhouse gas emissions.
Through the company’s cloud-based platform, participating firms can manage their emissions data. This is in line with international standards. Examples are the Carbon Disclosure Project, Science Based Targets initiative and International Sustainability Standards Board.
Tereso Panga, PEZA’s director general, told the Inquirer that a decarbonization strategy
in ecozones can be a big boost for the country’s competitiveness as an investment destination.
Panga said this is particularly true for multinational corporations. In particular, those that value a clean and green production agenda and adhere to SDG, ESG and EID frameworks.
READ: 17 Sustainable Development Goals: Where are we at?
Respectively, these acronyms refer to the principles of Sustainable Development Goals; Environmental, Social and Governance; and Equity, Inclusion and Diversity.
PEZA pushes sustainability initiatives
“This move further affirms our commitment to sustainability and climate action,” Panga said. “We shall continue to strengthen our sustainability initiatives and intensify our efforts to transform our ecozones into smart and green mixed-use developments where both workers and investors can live, learn, and play.”
“Through this strategic partnership, we aim to establish a leading decarbonization model within ASEAN (Association of Southeast Asian Nations), strengthening green supply chains and supporting the Philippines’ climate commitments,” he added.
The PEZA chief said they are on the way towards addressing and meeting the globally embraced position of reducing greenhouse gas emissions.
“This will be part of our plan at PEZA to contribute to reducing greenhouse emissions by 75 percent in 2030,” Panga said.
He was referring to the Philippine United Nations’ Nationally Determined Contribution target.
Last May 13, PEZA launched its new sustainability reporting program for exporters as part of this goal.
PEZA, in collaboration with the international independent standards organization Global Reporting Initiative, unveiled its Sustainability Reporting Guide for Exporters. The initial goal is to train 20 to 50 firms in adopting global sustainability reporting practices.
The first batch of participating companies is scheduled to begin compliance training around the third quarter of this year.
