President Ferdinand R. Marcos Jr. outlined strategic measures to tackle the high cost of green technology during the Asia Pacific Economic Cooperation (APEC) Leaders’ Informal Dialogue and Working Lunch at the Moscone Center in San Francisco, California.
Addressing the global transition from fossil fuels to renewables to combat the climate crisis, President Marcos emphasized the importance of cooperation in green technology development, liberalization of the sector, and facilitation of green trade and investment. He highlighted the Philippines’ initiatives, including full ownership liberalization in solar, wind, and geothermal sectors, reduced tariff rates on environmental goods, and the promotion of renewables in the energy mix.
During the informal dialogue on sustainability, climate, and just energy transition, President Marcos underlined the centrality of digitalization and innovation in building a resilient and sustainable future. He advocated for collaboration on sustainable fuels, technologies, storage systems, electric mobility, and critical minerals.
Economic reform for greening the economy played a foundational role in President Marcos’s vision. He stressed the significance of good regulatory practices and the integration of innovation into regulatory policy development. Balancing economic growth stimulation with public protection during the transition was deemed a shared responsibility of regulators and decision-makers.
Capacity building in developing new models, scenarios, risk assessment tools, and sharing data were seen as critical actions to magnify collective impact and monitor progress. The President emphasized that the transition toward energy security and environmental protection aligned with climate goals must be just, inclusive, sustainable, and affordable.
Collaboration in advancing affordable and accessible renewable energy and low-carbon technologies on the supply side was encouraged to move away from fossil fuel reliance. The President proposed utilizing science, technology, innovation, and research cooperation to lower development costs and expedite climate mitigation solutions.
On the demand side, President Marcos advocated for promoting energy efficiency and conservation initiatives to reduce fossil fuel demand. He highlighted the importance of a just energy transition, ensuring access to affordable energy for underserved segments like micro, small, and medium enterprises (MSMEs) and rural communities, supported by quality jobs, workforce development, infrastructure connectivity, and blended finance packages.