Press Releases

Taguig City, Philippines – 06 November 2025 — The European Chamber of Commerce of the Philippines (ECCP) through its Sustainability Committee, and with the support of NEO and Holcim,  successfully held a Luncheon Meeting on Climate Change and Decarbonization with Congressman Jose Manuel F. Alba at Manila House, Private Club in Bonifacio Global City.

The luncheon meeting convened leaders from the European and Philippine business communities to discuss the Low Carbon Investment Economy Bill and its role in shaping the country’s sustainable economic future.

As one of the most climate-vulnerable nations in the world, the Philippines faces climate-related shocks costing an estimated 3% of its GDP annually. Against this backdrop, the event highlighted the urgent need for the private sector to adopt net-zero strategies and invest in low-carbon solutions to ensure long-term economic resilience.

In her Opening Message, Ms. Gie Garcia ECCP Co-Chair, Sustainability Committee NEO Co-Managing Director & Chief Sustainability Officer, highlighted the vital role of the private sector in advancing climate action. She stated, “For the Philippine private sector, embracing net-zero pathways is not only an environmental responsibility, but also a strategic move toward long-term economic stability and enhanced global competitiveness.”

Ms. Garcia further reaffirmed the ECCP’s commitment to sustainability, saying, “the ECCP remains steadfast in its advocacy for sustainability. This luncheon is an opportunity to collectively discuss the progress we have made and explore the challenges ahead as we transition to a low-carbon economy.”

Congressman Jose Manuel F. Alba, the principal author of the Low Carbon Investment Economy Bill, presented the bill’s key provisions and its alignment with the Philippines’ commitments under the Paris Agreement of 2015 — including the national target of 75% reduction in greenhouse gas (GHG) emissions by 2030 as outlined in the Nationally Determined Contribution (NDC).

The proposed legislation seeks to establish a comprehensive policy framework to develop decarbonisation plans with annual emissions caps. It also introduces a Hybrid Carbon Pricing Mechanism which leverages market-based mechanisms such as carbon taxes, carbon offset programs, and emissions trading schemes to encourage sustained emission reductions.

In his keynote speech, Congressman Alba emphasized the urgent economic and environmental need to transition toward sustainable practices. He stated, “Decarbonization is the only sensible economic path moving forward,” underscoring that the shift to cleaner energy sources is not only environmentally responsible but also economically strategic.

He also highlighted the dynamic nature of the global economy and reminded the audience that “This is not a static market. This is the highest growth market in the world.”

In closing, the event also featured insights from representatives of the Embassy of Brazil in Manila. Mr. Igor da Motta Magalhães Carneiro, Second Secretary, emphasized how sustainable business practices can drive inclusive and resilient economic development. Meanwhile, Mr. Juan Oliveira Bomfim, First Secretary, delivered a presentation on “The Road to COP 30: Turning Climate Commitments into Collective Action,” highlighting Brazil’s upcoming role in COP 30 and the shared responsibility of nations to translate climate pledges into tangible, collective outcomes. Together, their perspectives reinforced the call for global cooperation and private-sector engagement in achieving a low-carbon future.

The luncheon meeting underscored the shared vision of the European and Philippine business communities to build a resilient, low-carbon economy, while positioning the Philippines as a regional leader in sustainable and inclusive growth. The ECCP Luncheon Meeting with Congressman Alba is organized with the support of NEO and Holcim.

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