The Philippines: Movement towards sustainable energy
SUPPLEMENT - THE 2009 GUIDE TO ENERGY AND PROJECT FINANCE - October 01, 2009
Angara Abello Concepcion Regala & Cruz
Address
ACCRA Building,
122 Gamboa Street, Legaspi Village, 0770, Makati City
Metro Manila
Philippines
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+632 830 8000
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+632 816 0119
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The clock is ticking. Excessive carbon dioxide emissions from conventional energy resources, including their adverse effects, have caused alarming consequences worldwide, such as disruption of ecosystems and increased risk of flooding, drought and other extreme weather conditions. On the other hand, the increase in the demand for conventional energy sources has unveiled the issue of security of supply, which has almost always been placed at the top of the energy policy agenda of many sovereign states. The world is left with the dilemma of whether to use fossil fuels, notwithstanding their lack of supply, to the detriment of the environment.
It is predicted that climate change, economic recovery and energy security will spur far greater investments in renewable energy in the coming years. With the rise of climate change concerns, coupled with increasing oil prices, renewable energy has become a worldwide trend through government legislation, incentives and commercialisation. The Philippines...
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