PHL told to craft plan for decarbonizing steel sector

Quick Summary:

The International Finance Corp.(IFC) is urging the Philippines, a major importer of steel, to put in place a "comprehensive action plan” across the value chain amid plans to decarbonize the steel sector.

As of August 2024, there are now 115 projects approved under the Green Lane, amounting to P3.204 trillion, of which 103 are renewable energy (RE) projects.

She also said there is a need to adopt a “comprehensive approach” and to focus on the entire supply chain.“We need to consider the whole system rather than examining each component of the steel industry,” she added.

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Article Details

Author / Journalist: Andrea E. San Juan

Category: BusinessStartups

Markets: Philippines

Topics: Steel Chain Essential Forum Sector Action Philippines Decarbonize Decarbonization Projects Industry

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-15 @ 16:15:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22518240

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 55 posts per day

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News Last Updated: 14 hours ago

Coverage Areas: Philippines

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