IFC and First Balfour, a Philippines-based engineering and construction company, have partnered to support the country’s climate goals by collaborating to decarbonize the transport sector. The agreement will see IFC help First Balfour conduct assessments and viability studies to establish a robust EV system in the First Philippine Industrial Park (FPIP), including charging infrastructure powered entirely by renewable energy. FPIP is one of the largest industrial parks in the Philippines, and the project aims to create an efficient and thriving e-mobility ecosystem to reduce emissions, lower transport costs, and create green jobs. The initiative aligns with the Philippines’ Electric Vehicle Industry Development Act to reduce GHG emissions by 75% of baseline by 2030.
resource: https://esgnews.com/ifc-and-first-balfour-team-to-promote-evs-in-the-philippines-and-accelerate-green-transition/