THE Philippine Economic Zone Authority (PEZA) said it partnered with the International Finance Corp. (IFC) to look into eco-industrial park (EIP) opportunities in the Philippines.
“As we transition to the EIP model, we are optimistic that PEZA’s 427 economic zones (ecozones) and the country’s freeports will adopt the EIP framework and green growth strategies,” PEZA Director General Tereso O. Panga said in a social media post on Wednesday.
“Our ecozones must evolve beyond being just viable locations for foreign direct investment (FDI). They must now enable industrial symbiosis, climate resilience, green infrastructure, and energy efficiency to ensure sustainable growth while upholding social responsibility, environmental stewardship, and ethical excellence,” he added.
According to Mr. Panga, the technical assistance project covers the development of a diagnostic report on EIP opportunities in the country.
Through the project, IFC-WB will help PEZA in benchmarking the EIP frameworks adopted by other countries, reviewing the enabling law necessary for the EIP transition, conducting market assessments on the potential impact of EIP framework adoption, and drafting a roadmap for EIP framework implementation.
“Guided by IFC’s EIP certification program, a global voluntary certification system will be developed to ensure transparent and comparable performance across industrial zones,” Mr. Panga said.
“This international initiative aims to boost the adoption of sustainability standards in industrial parks, freeports, and economic zones through the participation of developers and operators from various countries,” he added.
Five industrial parks will serve as case studies to evaluate the potential impact of EIP adoption. The five are Lima Technology Center, First Philippine Industrial Park, Laguna Technopark, Light Industry and Science Park, and Carmelray Industrial Park.
“These zones will serve as test beds for integrating sustainability into business strategy — helping to attract more investments amid increasing competition from countries also pursuing EIP certification for their economic zones,” Mr. Panga said.
He said that the EIP framework will enable companies in a common property “to gain a competitive advantage through the physical exchange of materials, energy, water, and by-products — thereby fostering inclusive and sustainable development.”
PEZA recently launched the Sustainability Reporting Guide for Exporters and has partnered with Japan’s Zeroboard, Inc. for decarbonization efforts.
“This commitment means a great deal to us in PEZA, as we are responsible for a substantial portion of the country’s FDI in manufacturing and services, contributing approximately 60% of the Philippines’ total annual exports of goods and services,” Mr. Panga said.
“Undoubtedly, these sustainability programs will enhance the competitiveness not only of PEZA but also of our valued ecozone locators and stakeholders,” he added. — Justine Irish D. Tabile