BANGKOK — Renewable sources will supply half of the Philippines' energy needs by 2040, President Ferdinand Marcos Jr. told Asia-Pacific Economic Cooperation (APEC) leaders and delegates on Thursday.
The Philippines wants renewable energy to have a 35 percent share in its energy mix by 2030 and 50 percent by 2040, he said during one of the sessions at the APEC CEO Summit.
“The Conference of the Parties to the UNFCCC (COP 27) is in full swing, but stronger climate action is required,” Marcos said.
“As the energy demands of the modern global economy continue to expand rapidly, diversification into renewables and other sources is imperative," he said.
Marcos’ pronouncement is based on the Philippines’ National Renewable Energy Program (NREP), a roadmap to achieve the clean energy goals required under the Renewable Energy Act of 2008.
In 2008, the share of renewables in the Philippines’ power mix was about 34 percent, according to data from the Department of Energy.
In 2021, it went down to 21 percent, data showed.
Marcos said greater dependence on renewable sources must be done to help preserve the environment as climate change is "the most pressing existential challenge of our time.”
Marcos earlier said that he has tapped a South Korean company to study whether the Bataan Nuclear Power Plant is still fit for use.
The nuclear plant was built during the administration of Marcos’ father and namesake but was mothballed due to safety worries.