Seven of the largest business groups in the country committed to implement concrete measures to mitigate the effects of climate change, such as the El Niño weather phenomenon on water resources.
The Philippine Business for Social Progress, Philippine Business for the Environment, Philippine Chamber of Commerce and Industry, Management Association of the Philippines, Federation of Philippines Inc. and the Financial Executives of the Philippines signed the Manila Declaration, the private sector’s statement of solidarity and support to low emission development.
Top leaders of the country’s leading corporations also launched the Water Alliance, a partnership among chief executive officers which will address issues and create solutions to impending water problems in the Philippines.
PBSP noted the Philippines was withdrawing more than double the average world usage of water per person per year and water scarcity is being experienced in many parts of the country.