The BGA Philippines Team, led by Managing Director Victor Andres Manhit, wrote an update to clients about corporate sustainability in the Philippines.

Context

  • Third-quarter survey results from Pulse Asia Research Inc. underscore the need for the Philippines to be at the forefront of the shift toward a more sustainable and eco-conscious future. Like any large-scale endeavor, successfully integrating the circular economy in the country will require the support and participation of all stakeholders.
  • Around 65 percent of Filipino adults say there was a big change in the climate in their area over the last three years. Notably, because of its geographical location in the Pacific Ring of Fire and the Typhoon Belt, the Philippines is highly vulnerable to calamities such as typhoons, flooding and landslides, which are likely to worsen due to climate change.

Significance

  • Most Filipinos view climate change to be dangerous for the environment (68 percent0, the Philippines (69 percent) and themselves and their families (71 percent). Nearly half of the population attributes calamities to the detrimental actions of people who abuse the environment.
  • The survey found that 85 percent of Filipinos see the importance of increasing the use of renewable energy in the Philippines, particularly solar, wind and hydropower. The energy sector plays a crucial role in accommodating the Philippines’ growing population and increasing economic activities.

Implications

  • Businesses have an opportunity to create renewable energy ventures and incorporate environmentally friendly measures into their products, services and operations in the Philippines. By meeting the growing expectations of a conscientious consumer base, companies may be able to improve their business reputation, attract more customers and increase sales.
  • Consumers in the Philippines are increasingly leaning toward products and services that are created via sustainable value chains and processes. This trend not only reflects a desire for a more sustainable and responsible lifestyle but also encourages businesses to adapt and innovate in response to changing consumer expectations.

We will continue to keep you updated on developments in the Philippines as they occur. If you have any questions or comments, please contact BGA Philippines Managing Director Victor Andres Manhit at vmanhit@bowergroupasia.com.

Best regards, BGA Philippines Team

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Managing Director

Dindo is recognized as one of Manila’s most well-connected and savvy advisors on developments in government and business in the Philippines. Concurrent to his role as managing director for BGA’s operations in the Philippines, he is also the founder and managing director of the Stratbase Group and president of its policy think tank, the Albert del Rosario Institute for Strategic and International Studies. Since 1991, Dindo has served as a member of the faculty and is the former chair of the Political Science Department and a senior fellow of the La Salle Institute of Governance at the De La Salle ... Read More