A study by Schneider Electric showed that 98 percent of companies in the Philippines have sustainability goals, but only 52 percent implemented comprehensive sustainability strategies.
Schneider Electric said business leaders cited regulatory or economic uncertainty and internal company resourcing as key barriers to progress.
It said that when asked about their familiarity with the Philippines’ Energy Efficiency and Conservation Act (Republic Act 11285), results show that the local business leaders are only “very to moderately familiar” with the policy.
Most business leaders also expressed that they are moderately confident (44 percent) in meeting the terms of the policy. The survey also says 22 percent of Philippine companies plan to invest at least $1 million or more towards their sustainability agenda in the next two years.
