The Government of the Philippines announced its greenhouse gas (GHG) emissions reduction target of 75% with international support (compared to BaU
*1) by 2030 under the NDC submitted to the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat in April 2021, and it set infrastructure improvement in areas such as electricity as one of its major policy goals. Against this backdrop, AboitizPower, a leading company in the country's highly privatized infrastructure sector, has been focusing on achieving decarbonization. While utilizing LNG as a power source in the transition period, it aims to raise the percentage of renewable energy to the total energy generated from the 20% level as of 2022 to 50% by 2030. The purpose of the MOU is to promote AboitizPower and Japanese companies' collaborative projects in the Philippines by strengthening the cooperation between JBIC and AboitizPower in the area of energy. Also, the signing of the MOU is in line with the policies of the Government of the Philippines and AboitizPower.