MHI Thermal Systems Receives ‘2021 Minister of the Environment Award for Climate Action’ for ‘Q-ton Circulation’ Air-to-Water Heat Pump

TOKYO, Nov 25, 2021 – (JCN Newswire via – Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a group company of Mitsubishi Heavy Industries, Ltd. (MHI), has received 2021 Minister of the Environment for Climate Action Award sponsored by the Japanese Ministry of the Environment for its “Q-ton Circulation,” an air-to-water heat pump […]

IMF urges PHL to find ways to fund climate change projects via revenue

THE Philippines needs to find a way to sustainably fund climate change mitigation and adaptation via enhanced revenue generation, the International Monetary Fund (IMF) said. “As greater fiscal space is generated by higher revenue, the focus should continue to be placed on identifying in the budget those investments that support climate mitigation and adaptation objectives, […]

DoF’s Dominguez proposes climate financing via multiple channels

FINANCE Secretary Carlos G. Dominguez III said climate financing should be done through grants, investment, and subsidies to improve vulnerable communities’ ability to adapt to climate risks. Mr. Dominguez, who represented the Philippines at the 26th United Nations Climate Change Conference (COP26) in Glasgow, said that climate financing should be done through this three-point “blended […]

NGOs call for climate objectives to be hard-wired into project planning

ENVIRONMENTAL GROUPS said the Philippines’ climate objectives need to be considered at every stage of the planning process in order to maximize the resources available for climate-change mitigation, including foreign aid. “Aid given to LGUs (local government units) for programs related to climate resilience is a good initiative, but we should consider that funding is […]

DoF’s Dominguez says rich countries need to offer more climate funding

FINANCE Secretary Carlos G. Dominguez III said wealthy economies have not offered enough climate financing to help developing nations reduce their carbon footprints as they transition to clean energy, adding that such countries bear the most responsibility for their historic emissions. In a statement issued by the Department of Finance (DoF) Thursday, Mr. Dominguez said: […]

ADB funding for climate mitigation projects since 2011 hits $31.5 billion

THE ASIAN Development Bank (ADB) said it has funded $31.5 billion worth of climate mitigation projects since 2011, accounting for 78% of its climate-related financing. “Mitigation finance is dominated by the energy sector (60%), although there has been a recent significant upward trend in the transport sector,” the bank’s Independent Evaluation Board said in a […]

Editorial: Flood and Cebu City

EVEN before the pandemic, flooding during heavy rains had been a common occurrence in most urban parts of Metro Cebu, especially in Cebu City’s downtown area of Cebu City, and these were the common scenes: Individuals wading through murky floodwaters; small vehicles stranded in the middle of the road after experiencing engine trouble, causing traffic; […]

Employers urged to address young hires’ climate change concerns

JOB APPLICANTS are increasingly querying their prospective employers about the company’s climate-change policies, First Philippine Holdings Corp. said. “The ability to hire the best also depends on them taking a stance that’s for the betterment of the world,” the group’s Chief Executive Officer Federico R. Lopez said during a virtual conference hosted by the Makati Business Club Thursday. […]

DBP joins UN’s Green Climate Fund

THE Development Bank of the Philippines (DBP) has been accredited to join the United Nations (UN) Green Climate Fund (GCF), making it among the banks that can provide financing for environment and climate change-related programs in developing countries.  DBP President and CEO Emmanuel G. Herbosa said in a statement Friday that the bank will be the second Philippine entity to join the international fund, created […]

Philippines commits to 75% reduction in greenhouse gas emissions by 2030

President Rodrigo R. Duterte has approved the Philippines’ first Nationally Determined Contribution (NDC) which aims to reduce greenhouse gas (GHG) emissions by 75% by 2030, the Finance department said on Friday. The five-page NDC details the country’s goal of modernizing and pursuing low carbon and resilient development for the agriculture, waste, industry, transport and energy […]

Fujitsu Updates Group Environmental Plan to Achieve Validation of 1.5 degrees Celcius – Aligned Emissions Reduction Targets, Contribute to Sustainable Future

TOKYO, Apr 16, 2021 – (JCN Newswire via – Fujitsu today announced a significant update to its greenhouse gas reduction targets as efforts towards decarbonization gain increasing urgency and accelerate throughout the world. To contribute more aggressively to the resolution of environmental issues confronting humanity, Fujitsu revised its emissions reduction targets for its business […]