High costs a barrier to PH climate change investments

High costs of investing in the Philippines is the top reason why businesses and investors are finding it hard to commit to the country’s pledge to fight climate change by reducing its greenhouse gases by 70 percent by 2030, an official of a UN-backed climate program said.

Francis Benito, chief technical adviser of the UN Development Program-supported Low Emission Capacity Building (LECB) Philippine Project, said that the country needs the cooperation of the private sector—not only the public sector—to achieve the long-term target in reducing greenhouse gases.