Bain: PH Can Better Achieve Decarbonization Targets Through Strengthened Public-Private Partnerships

26 October 2023 – Bain & Company said increased public-private collaboration in the Philippines bodes well for decarbonization efforts in the country.“

The Philippines can better achieve its targets through strengthened government-business collaboration,” Dale Hardcastle, Bain’s Global Head of Carbon Markets, said at a meeting with MBC members. The event was organized to discuss insights from Bain’s latest green economy report for Southeast Asia.

“Governments today struggle with how to ‘close the circle’ and deliver their targets across different industries, and they won’t be able to do that alone. This is where businesses can take on a strategic role of shaping that path and taking it forward,” Hardcastle said.

Hardcastle was joined by Genevieve Ding, Amazon Web Services Head of Sustainability Strategy in APAC and Japan, and Scott Roberts, Head of ADB’s SEA Green Finance Hub.

During the panel discussion, Roberts elaborated that government-business dialogue has recently become more robust. First, coordination among different sources of finance, including blended finance, similar to Indonesia and Vietnam. An example of blended finance is Davao City’s public transportation project (currently the largest EV investment program in the PH), which was financed by ADB and global donor funding, he said. Second, factoring in the social consequences of transition efforts, which could potentially displace people and jobs. They must also be considered in transition plans, he said.

In this session, business leaders had the opportunity to learn from experts on the strategies to capture growth from increased global finance and opportunities where businesses can lead or shape the Philippines’ decarbonization efforts.

Bain & Company is a global management consulting firm that advises some of the world’s leading businesses, governments, and non-profit organizations.
For more information on this event or to learn more about Makati Business Club and Bain & Company, you may watch the recorded session.