Japan financing of fossil gas inconsistent with PH clean energy push—think-tank

By Alena Mae S. Flores – April 8, 2024, 9:10 pm
from manilastandard.net

Clean energy think tank Center for Energy, Ecology and Development (CEED) raised concern that the Japanese government is moving in the opposite direction in the Philippines’ transition to full use of renewables.

The CEED comment came after Japan Bank for International Cooperation (JBIC) announced that it signed a memorandum of agreement (MOU) with three major energy firms for the rollout of the Japanese-led Asia Zero Emission Community (AZEC) platform in the Philippines.

“AZEC has been repeatedly denounced as a ploy to promote detrimental energy in developing countries in Asia, particularly with fossil gas and unproven fossil-friendly technologies,” said Gerry Arances, CEED executive director.

“That critique is affirmed by JBIC’s partnership with the Philippines’ biggest fossil fuel champions. Japan, clearly, is championing gas as ‘bridge fuel’ deception at the cost of the Philippines’ climate ambitions,” Arqnces said.

San Miguel Corp., Aboitiz Equity Ventures and Metro Pacific through Meralco’s power generation arm are jointly pushing for 23 GW of new gas-fired power generating facilities equivalent to 80 percent of total installed capacity.

The three companies are also in talks to acquire the Philippines’ first LNG import terminal owned by the Atlantic Gulf & Pacific Company, which was funded by JBIC and is currently undergoing an internal investigation by the bank for environmental violations and community impacts.

“With this development, the Japanese government and, by extension, the Philippine government are revealing a clear lack of commitment to a genuine renewable energy transition,” said Arances.

“This is unacceptable for a country facing some of the worst impacts of the intensifying climate crisis and where fossil fuel-based power generation is causing death and destruction in vulnerable communities,” he said.

“We are a country whose abundant renewable energy resources makes a 100% transition aligned to the 1.5 °C climate goal possible. The focus should be on unlocking this, and not in putting up more gas,” Arances said.

Clean energy advocates in Japan and the Philippines are on guard over results of an upcoming trilateral meeting between Japan, the Philippines and the United States in Washington next week.

“LNG champions Japan and the US should use the upcoming talks to make amends and ensure the prioritization of renewables in the Philippines and other emerging economies in the region, not gas or false solutions,” said Arances.

“This trilateral is also a test for the Marcos administration’s commitment to the Philippines’ renewable energy shift,” he said.

“President Marcos entered office with a pledge to make renewable energy its top climate priority, but its execution has so far been half-hearted,” he said.