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60% of Phl business ready for climate change impact

MANILA, March 30 – Initial results of a comprehensive survey from London-based professional services firm PricewaterhouseCoopers (PwC) show that more or less two-thirds of Philippine business companies have reported being “somewhat” ready for the general impact of climate change to their respective properties and operations.

This despite the lack of a “formal management-approved” plan or strategy on climate change for 64 percent of the survey respondents, with nine out of 10 of these 64-percent majority having “informal plans” anyway, according to data made available during the Business Climate Action Summit in Makati City on Tuesday.

A partial tally of the poll revealed details as of March 23, while results of the online-based survey are set to be known on Thursday, according to PwC Financial Advisors Inc. in a plenary presentation at the Ballroom of Intercontinental Hotel in Makati.

Dan Hamza-Goodacre, climate change and sustainability advisor of PwC Financial Advisors Inc., disclosed that of the 36 percent with a formal approved plan or strategy on climate change, a quarter of these Philippine companies called for adaptation, less than a quarter for mitigation, and more than half called for both.

Meanwhile, mitigation measures on climate change include energy efficiency, solid waste management and recycling, tree planting and watershed protection, building services and behavioral change, and low carbon energy purchase and installation, Goodacre said.

More than 90 organizations from the corporate sector, the non-profit community, and the government participated in the climate change summit organized by the Philippine Business for the Environment (PBE), in partnership with PwC, Honda, Shell, Holcim, and the Lopez group of companies.

Participants were grouped into various clusters such as sustainable agriculture and energy efficiency, sustainable cities, and solid waste management, including the corporate-led Philippine Business for Social Progress (PBSP). (PNA) scs/JCA/pr

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