Asian Development Bank and Philippine officials on Thursday called for enhanced public-private partnerships to speed up Southeast Asia’s shift toward a green economy during the 2026 ASEAN Summit.
The call coincided with the launch of the ADB-Philippines Joint Report on Advancing Green Economy, which highlights the necessity of sustainable growth as climate risks and rising emissions threaten regional development.
The report estimates that the green economy could generate up to $1 trillion in annual revenue and create 30 million jobs across the ASEAN region.
ADB vice-president Scott Morris said the shift is essential to protect long-term development from natural resource pressure and climate threats.
“This report should not be the end of the conversation. It is a call for action to deepen public-private collaboration, unlock investments at scale, and ensure that the green transition delivers real benefits for our people, our businesses, and future generations,” Morris said.
Morris said ADB will focus on helping governments and businesses de-risk green investments and mobilize private capital while supporting credible transition policies.
He said regional cooperation through shared standards and coordinated policies will be key to accelerating the move.
Department of Trade and Industry Secretary Ma. Cristina Roque said Southeast Asia is on track to become the world’s fourth largest economy but remains highly vulnerable to climate change.
“Rising sea levels and extreme weather are no longer projections. They are disruptions to our supply chains and threats to our people’s livelihoods,” Roque said.
Roque said the Philippines views the green transition as a new engine for growth that can generate quality jobs and strengthen energy security. She cited existing policies like the Philippine Green Jobs Act and the EU-Philippines Green Economy Partnership as foundations for this growth.
The government is also working to finalize a free trade agreement with the European Union to support more competitive and greener industries, Roque said.
