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EU launches Green Economy Initiative in Phl, allots €466 M

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Photos from EU Delegation to the Philippines Public Affairs Office

During her visit to Manila today, President of the European Commission Ursula von der Leyen and President Ferdinand Marcos from the Philippines launched the Team Europe Initiative on Green Economy under Global Gateway, with a Team Europe contribution of €466 million.

President of the European Commission, Ursula von der Leyen, said: “Global Gateway, the EU’s investment strategy for the world, will support the Philippines on its path to a sustainable future. We will invest in the transition to a circular economy and the generation of green energy. And we will also provide expertise, training and tech transfers, because this is the way to empower local communities, and that is what the EU cares about.”

The President of the European Commission Her Excellency Ursula von der Leyen vows to support the Philippines on its path to a sustainable future. (Photo from EU Delegation to the Philippines Public Affairs Office)

The Team Europe Initiative on Green Economy will develop an industry-led alternative model to the current plastic waste management approach, leading to more sustainable plastic value chains and a reduction of plastic waste and marine litter.

In close cooperation with the Philippines authorities, the initiative will help to develop a circular economy policy, in particular tackling plastic waste, to complement the national strategy to combat marine litter.

A policy dialogue platform at government level will promote the circular economy, renewable energy and energy efficiency. There will be capacity building for the Department of Energy and other key stakeholders to support the clean energy agenda. New private energy sector investments focusing on the mitigation of climate change will be identified.

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