Currently, coal is the dominant source of energy in the Philippines, with more than 41 percent of the country’s economy relying on dirty fossil fuel. That may soon change though, as the Filipino government recently announced that it will no longer accept proposals to build new coal power plants, in an effort that aims to boost the deployment of cleaner sources of energy.
The moratorium signals a new trajectory in the government’s energy future and means that investors intending to pursue any projects related to coal power will have to look for alternatives. The move comes as the clean energy revolution is steadily gaining momentum worldwide, thanks to renewables now being cheaper than even the cheapest coal-fired power plants.
It is important to note though that while the government’s decision to hit the brakes on coal use is a commendable move, the country still needs to take bolder steps towards stemming its current dependence on coal.
