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As it advocates power resilience among its wide array of registered firms, the Board of Investments (BoI) recently launched the Energizing Industry Development Initiatives Series with a capacity-building program, “POWER-EE: Promoting Operational Wins & Energy Resilience for BoI Registered Enterprises in Energy Efficiency,” held in Makati City.
The initiative brought together BoI-registered business enterprises (RBEs) to help them better understand the Energy Efficiency and Conservation (EE&C) Act, its compliance obligations, including annual reporting, energy audits, and the employment of energy practitioners, as well as the benefits of incentives under the CREATE MORE Act.
“Energy efficiency is no longer optional; it is a way of life,” said BoI Executive Director Fe del Rosario in her opening remarks, emphasizing that the session will guide RBEs in understanding salient provisions of the EE&C Act.
“We aim to strengthen industries by integrating sustainability, innovation, and resilience into their operations. Beyond investment promotion and job generation, our mission in the BOI is to empower enterprises to thrive in a future shaped by climate change security, climate action, and sustainable growth,” she added.
Legal requirement
Signed in 2019, the EE&C Act mandates that energy efficiency become a legal requirement to ensure there is enough affordable and clean energy to sustain the country’s progress and meet the needs of its still-growing population.
Director Aquino also discussed the National Energy Efficiency and Conservation Program (NEECP), a framework that promotes energy efficiency across the country.
Alexander Ablaza, president of the Philippine Energy Efficiency Alliance, emphasized the urgent need to scale up energy efficiency across all sectors in the country.
He emphasized that the Philippines will need to bridge an estimated USD 243 billion investment gap in energy efficiency to reduce projected energy demand by 182 Mtoe (Million Tons Oil Equivalent) by 2040.
Implementation of energy-saving measures
Ablaza also highlighted the importance of deploying certified energy efficiency practitioners across various establishments to ensure the effective implementation of energy-saving measures.
Meanwhile, Romalyn Manalo and Arrianne Ada Antoni of the BoI-Resource Based Industries Service (RBIS) presented the specific guidelines on registering EE&C projects with the BoI and the available incentives under the CREATE MORE Act.
Francis Peñaflor, Acting Director of RBIS, emphasized the need for greater collaboration among investment promotion agencies, other national government agencies, and local government units to facilitate investments in energy efficiency.
“The EE&C Act is a cornerstone of the Philippine sustainable energy strategy and a significant contributor toward our net-zero aspiration. The BOI stands ready to support our registered enterprises in pursuing energy efficiency and conservation through policy guidelines, investment assistance, and incentives under the CREATE MORE Act,” Acting Director Peñaflor said.
Identify opportunities, encourage investments
The first of the series aims to identify opportunities and encourage investments in energy-efficient technologies and leverage incentives available under the EE&C Act. It also seeks to support long-term sustainability by aligning firm-level actions with national energy and climate goals.
Also present at the event werfe partners from financial institutions, auditing firms, business services, and internal BoI employees who are handling registration and compliance of EE&C projects.
The initiative is part of the RBIS-Energy Division’s Energizing Industrial Development Initiatives Program.
By equipping firms with this knowledge, they will be able to integrate energy efficiency measures into their operations, fostering sustainability and improved market competitiveness, and contribute to national energy and climate targets.
