MEMBERS of the Philippines’ private sector pledged their commitment to the country’s environmental efforts in preparation for a vital United Nations discussion on climate change.

Local business leaders gathered in Makati on Friday to officially announce their backing of the government’s groundwork, the Intended Nationally Determined Contribution, or INDC, to be revealed this December at the United Nations Framework Convention on Climate Change in Paris.

Water preservation and low emission development were the centerpieces of the meet, as the Climate Change Commission (CCC) said that heightening global emissions have reached 582 billion metric tons, with a cap of 1 trillion MT of carbon before “disastrous consequences” set in, as estimated by scientists. This as cited by Philippine Business for Social Progress (PBSP).

A pact called The Water Alliance, meanwhile, will involve the top officials from companies like Pilipinas Shell Petroleum Corp., Coca-Cola Phils., LafargeHolcim, Dow Chemical Pacific Ltd., Manila Electric Co., Manila Water Company, Inc., and Maynilad Water Services, Inc., at a time a dry spell caused by the El Niño is seen to become more prevalent as 2016 approaches.

“Water is part of the whole discussion on climate change; the private sector must also do [this] for its own sake, to secure business, and to secure [their] future,” said Dr. Bernd-Markus Liss, country director of Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Philippines, which together with The United States’ foreign aid agency USAID are partner organizations in the endeavor.

“We have a number of action items. Each action item, there’s a company which will be responsible to lead that. Then, there are timelines on when it could be delivered. We are in the process of assessing specific savings na pwedeng gawin ng bawat industry and bawat company (that each industry and each company can do).” said Pilipinas Shell Chief Executive Officer Edgar O. Chua on the sidelines of the event. Mr. Chua will also serve as president of The Water Alliance.

The government was represented by Public Works and Highways Secretary Rogelio L. Singson, who said that a 4% allocation out of the national budget for 2015 was designated for climate change.

For 2016, the Department of Budget and Management (DBM) said earlier this week that P132 billion will be going to climate expenditures.

“The amount of P132 billion for climate expenditures is a huge investment, but we have been working on increasing the budget to address climate change since 2011. More importantly, the 2016 budget builds on the lessons of typhoon Yolanda as well as focusing on climate change adaptation,” said DBM chief Florencio B. Abad.

The rest of The Water Alliance’s members are Coca-Cola FEMSA, Hong Kong Shanghai Banking Corporation (HSBC), Energy Development Corp., Aboitiz Group of Companies, Unilever Philippines, Mabuhay Vinyl Corp., Pepsi-Cola Products Philippines, Inc., Roxas Holdings, Inc., Nestle Philippines, Inc., Smart Communications, Inc., and Splash Corp. — N. P.A. Pascual

Source: Business World