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Monday, July 15, 2024

Marcos taps potential Brunei investments in waste-to-energy projects

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President Marcos engaged in a strategic discussion Wednesday with major players in the energy sector of Brunei, where he expressed the Philippines’ intention to embark on waste-to-energy (WTE) projects amid the global shift from fossil fuels to sustainable alternatives.

In a high-level dialogue in Bandar Seri Begawan, President Marcos tried generating potential investments in the Philippine renewable energy (RE) sector and enhancements on oil and gas collaborations.

Present during the meeting were key representatives from Brunei Shell Petroleum Company Sdn. Bhd (BSP), Brunei LNG Sdn. Bhd (BLNG), Total Energies in Brunei, Serikandi Oilfield Services Sdn Bhd, and Adinin Group of Companies.

Mr. Marcos said there is significant interest in WTE solutions though it’s currently at the micro level, primarily involving local governments. He mentioned that the traditional method of exporting waste to landfills is no longer viable, particularly in large cities, where innovative solutions are most needed.

The President emphasized the necessity of developing the right infrastructure to harness energy from landfills, noting ongoing challenges such as legal and regulatory hurdles, and the need for scalable waste management systems by local government units (LGUs).

He highlighted the complexities of organizing effective garbage collection and the political intricacies involved. But he expressed optimism that legislation is being made to address this problem, with a growing recognition of viable, clean solutions to waste disposal.

Brunei is actively exploring renewable energy-based connectivity with neighboring countries, although oil and gas remain central to the regional energy mix during this transitional period.

The Philippines has committed to reducing carbon emissions and advancing renewable energy, in line with global climate change mitigation efforts.

Enabling policies like the Renewable Energy Act of 2008, which eases foreign equity restrictions, particularly for investments in solar, wind, and tidal energy, have been instrumental in attracting more investments.

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