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Saturday, June 22, 2024

GT Capital and Aboitiz Group host 7th CarbonPH meeting

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GT Capital Holdings Inc. (GT Capital) and Aboitiz Equity Ventures Inc. (AEV) successfully hosted the latest session of the CarbonPH Education Series titled “Greening the Economy: Opportunities and Challenges of Transition Finance.”

The event brought together industry leaders and sustainability champions to discuss the pivotal role of transition finance in advancing a low-carbon economy.

The session was opened by Ginggay Hontiveros-Malvar, AEV chief reputation and sustainability officer and Aboitiz Foundation president, who set a collaborative and purpose-driven tone for the event.

She thanked event organizers, especially the GT Capital team led by Joyce Baldueza-de Leon, chief risk officer and head of sustainability, and the Aboitiz Group team led by May Perez, AVP for sustainability.

“The increasing impacts of climate change to our economy highlight the need to transition to a low-carbon economy. With this session, we aim to provide a comprehensive understanding of transition finance, as it covers strategies, instruments, and policies to facilitate the flow of capital toward sustainable projects,” said Hontiveros-Malvar.

Participants explored opportunities and challenges associated with financing sustainable initiatives at both national and industry levels, seeking to identify barriers and innovative solutions.

The keynote speaker, United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) Director of the Macroeconomic Policy and Financing for Development Hamza Ali Malik, provided invaluable insights into the significance of transition finance in achieving sustainable development goals. His guidance helped participants understand the broader landscape of transition finance.

Key recommendations from the event included establishing carbon mitigation and carbon reduction plans and strategies, engaging in partnerships with policymakers and regulators, investing in building the organizational capacity and systems, facilitating regular meetings between project developers and financial institutions, and encouraging real economy borrowers and clients to implement the net zero transition.

Participants gained practical knowledge in understanding the concepts and impacts of transition finance, its contributions to national policy development, and what would be the actionable strategies to overcome barriers and how each industry can drive sustainable finance at scale.

GT Capital and the Aboitiz Group remain committed to fostering collaboration and innovation in sustainability efforts, with outcomes from the event contributing significantly to creating a resilient, inclusive and sustainable low-carbon economy.

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