- Sweden expands cooperation with the Philippines for sustainable industrial growth.
- Swedish firms present technologies to lower energy costs in major industries.
- Partnership drives innovation, sustainability, and broader green solutions adoption.
Sweden is revitalizing initiatives to enhance cooperation with the Philippines on sustainable industrial growth, emphasizing technology-based solutions that assist local industries in reducing energy expenses and increasing competitiveness.
The Swedish Embassy in the Philippines announced that Swedish firms SKF and Atlas Copco participated alongside government officials and industry leaders at the Swedish Perspectives in Energy Efficiency forum held in Manila. Conversations centered on how energy-efficient technologies can aid operations in manufacturing, food and beverage, and the power industry.
Swedish Ambassador Anna Ferry expressed that energy efficiency is an essential element of industrial resilience. “Energy efficiency is a critical factor for competitiveness and resilience. Sweden’s experience shows that industrial modernization and sustainability can go hand in hand. We are long-term partners with the Philippines, sharing this expertise,” she added.
The Philippines still deals with some of the highest electricity costs in Asia, approximately 18 US cents per kilowatt-hour, which fosters significant incentives to embrace contemporary, energy-efficient alternatives. Despite the implementation of the Energy Efficiency and Conservation Act, industries have gradually adopted it due to financing gaps and inconsistent demand.
A report from Business Sweden indicates that approximately 80 percent of industrial energy use is attributed to the manufacturing and food and beverage industries, underscoring the advantages of focused enhancements.
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This could involve consolidated purchasing, high-quality energy assessments, and funding collaborations that enable sectors to recoup expenses via efficiency gains. Swedish firms are establishing themselves as collaborators in this "green transition," providing solutions to enhance energy efficiency, prolong equipment durability, and promote circularity throughout the supply chain.
A panel discussion with representatives from the Department of Energy (DOE), the Philippine Energy Efficiency Alliance, and Swedish companies highlighted the significance of procurement practices focused on sustainability.
Sweden dedicates 3.5 percent of its gross domestic product (GDP) to research and development, primarily fueled by private sector investments. Swedish firms are acknowledged worldwide for their innovations in energy efficiency, transportation, and decarbonization technologies. By maintaining ongoing partnerships with Filipino industries, Team Sweden seeks to promote innovation, foster sustainable development, and enhance access to eco-friendly solutions throughout the nation.