Strengthening Sustainable Partnerships: MPIC and JBIC Sign MOU for Philippines’ Green Future

Strengthening Sustainable Partnerships: MPIC and JBIC Sign MOU for Philippines’ Green Future

(From left to right) MPIC Executive Vice President and Chief Finance, Risk & Sustainability Officer, Chaye Cabal Revilla, MPIC Chairman, President and CEO, Manuel V. Pangilinan, JBIC New Energy and Power Finance Department II Director General, SUZUKI Ryuta, and Director of Division 1 of New Energy and Power Finance Department II, SAGAWA Hiroshi

PASIG, Philippines, 25th October 2023 – Metro Pacific Investments Corporation (MPIC), the Philippines’ leading infrastructure investments company, has secured a substantial progression towards advancing the nation’s commitment to sustainable development. MPIC, in collaboration with the Japan Bank for International Cooperation (JBIC), has formalized its partnership with the signing of a Memorandum of Understanding (MOU).

The signing of the MOU is closely aligned with the priorities of the Government of the Philippines and MPIC. The Government of the Philippines, as part of its dedication to reducing greenhouse gas (GHG) emissions by 75% with international support by 2030, highlighted the enhancement of critical infrastructure, including electricity, public transportation, water and sewerage, medical care, and agriculture. MPIC, a pioneer in the highly privatized infrastructure sector, has been actively engaged in the construction of resilient infrastructure and decarbonization efforts, aiming to achieve net-zero emissions across the group by 2050.

MPIC’s Chairman, President, and CEO, Manuel V. Pangilinan led the signing alongside Chaye Cabal Revilla of MPIC; Mr. SUZUKI Ryuta, Director General and Mr. SAGAWA Hiroshi, Director of Division 1 of New Energy and Power Finance Department II of JBIC; and Mr. KISHIOKA Masashi, Chief Representative of JBIC Representative Office in Manila.

“We are committed to developing a sustainable future for the Philippines. Our collaboration with JBIC, a renowned institution, reinforces our resolve to develop efficient, environmentally conscious infrastructure that will not only strengthen the foundation of our nation but also contribute to global sustainability efforts. Together, we aim to pioneer responsible infrastructure development, and this MOU signifies our collective dedication to this cause,” said MPIC’s Chairman, Manuel V. Pangilinan

This collaborative endeavor further aligns with the commitment of the Republic of the Philippines and the Government of Japan to work together on the “Asia Zero Emission Community (AZEC)” concept. In addition, President Ferdinand R. Marcos Jr. and Prime Minister KISHIDA Fumio have recognized Japan’s capacity-building initiatives and private-sector enterprise support for introducing liquefied natural gas (LNG) to the Philippines as part of the country’s energy transition. Their mutual commitment extends to promoting cooperation in developing a roadmap towards the Philippines’ journey to carbon neutrality.

The partnership with JBIC is aligned with MPIC’s efforts to contribute to the United Nations Sustainable Development Goals (SDG), particularly Goal 7: Affordable and Clean Energy, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. 

Concurrently, with strengthening its infrastructure, healthcare, food & agriculture, and other businesses, MPIC aims to achieve energy transition, environmental sustainability, and social sustainability, in line with the Philippines’ Nationally Determined Contribution (NDC) under the Paris Agreement. This commitment includes efforts to improve efficiency and reduce greenhouse gas emissions, introduce advanced LNG projects, accelerate renewable energy development, and support the development of sustainable food and agriculture ecosystems.

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About Japan Bank for International Cooperation (“JBIC)

JBIC is a policy-based financial institution wholly owned by the Government of Japan, which has the purpose of contributing to the sound development of the Japanese and international economy and society by taking responsibility for financial functions to promote overseas development and secure natural resources with strategic importance to Japan, maintaining and improving the international competitiveness of Japanese industries, promoting overseas business having the purpose of preserving the global environment, and also providing the financial services that are necessary to prevent disruptions to the international financial order or to implement appropriate measures with respect to the effects of such disruption.

About Metro Pacific Investments Corporation (“MPIC”)

MPIC is a leading Philippine company with investments in power, toll roads, water, transportation, healthcare and real estate. The Company seeks to create long-term value for all its stakeholders through responsible and sustainable investments that contribute to national progress and improve the quality of life in the communities it serves.

MPIC and its group of companies are making a difference in the lives of millions of Filipinos, powering commerce and households, connecting people and places, delivering clean and safe water, and making world-class healthcare available to all.

For further information please contact:

Melody del Rosario

Vice President, PR & Corp. Comms (MPIC)                         

Cel. No. 0918 9635639