Is the Push for Renewable Energy in the Philippines Ignoring the Economic Risks of Abandoning Coal?

First Generation Corp. vice president Carlos Lorenzo Vega emphasized that coal is not a cheap or sustainable energy source, citing the volatility of global coal prices due to events such as Indonesia’s export restriction and the Russia-Ukraine conflict. Vega argued for shifting to renewable energy (RE) and using natural gas as a bridging fuel to stabilize the system while increasing RE capacity. First Gen CEO Federico Lopez stated that by 2050, the Philippines will require much more electricity, with natural gas playing a critical role in decreasing emissions and guaranteeing energy reliability.

Editor’s Note: Coal is heavily integrated into the country’s power system, delivering electricity to millions and sustaining many coal-related employment. A quick shift away from coal might result in job losses and higher electricity bills, disproportionately harming the poor and pushing the country deeper into poverty. The change necessitates major investments in infrastructure and technology, which might strain an already ailing economy.

While First Gen and other clean energy proponents depict the move as a long-term solution, the quick promotion of green energy frequently corresponds with economic possibilities, particularly when “going green” becomes a global trend. Is the rush to go green in the Philippines sacrificing jobs, deepening poverty, and driving up energy costs, all while powerful corporations cash in on the climate hype? [See also: Net-Zero Pushers Are Ignoring The Waste Generated By “Green Energy”, The Challenges of Imposing Developed World Policies on Developing Nations, Peddlers Of Environmental Doom Have Shown Their True Totalitarian Colors, Climate Change Equity: A Path Towards Global Social Credit System?]

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