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 its Nationally Determined Contribution (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 and public transportation as one of its major policy goals. Against this backdrop, San Miguel, a leading company in the country's highly privatized infrastructure sector, has been focusing on enhancing investment in renewable energy and introducing technologies to reduce GHG emissions to realize net zero emissions in the group by 2050. The purpose of the MOU is to promote San Miguel and Japanese companies' collaborative projects in the Philippines by strengthening the cooperation between JBIC and San Miguel in the areas mentioned above. Also, the signing of the MOU is in line with the policies of the Government of the Philippines and San Miguel.