ANGARA: INCREASE GOV'T SPENDING ON GREEN TECH

Following the release of a worldwide study on renewable energy, Senator Edgardo J. Angara called for an increase in government spending in green technology to help the country keep pace with global demands.

"We must take advantage of this increasing interest in green technology from the private sector worldwide to advance our own industry," said Angara, who is a long-time advocate of renewables.

The veteran legislator cited the Global Trends in Renewable Energy Investment 2011, a joint study by the United Nations Environment Programme (UNEP), the Frankfurt School's Collaborating Centre for Climate and Sustainable Energy and Bloomberg New Energy Finance.

According to the study, worldwide government-led research and development rose by 120 percent, with wind, solar, biomass and waste-to-energy as the most popular fields. A record US$211 Billion was channeled into renewable energy projects, a full third higher than the investments in 2009.

In Asia, there was a recorded increase of 31 percent in government investment totaling to US$4 Billion. Meanwhile, Thailand led the ASEAN region in terms of "green" spending.

"These numbers reflect the fact that developing countries such as the Philippines are more than ready to embrace this emerging industry," said Angara, chair of the Senate Committee on Science and Technology.

Furthermore, the study reported that by the first quarter of 2011, 119 nations established policies or legislation to support this field, with more than half of them in developing countries.

Angara explained that renewable energy options, as opposed to coal-based energy, appear to be tailor-made for the Philippines because of its abundance in natural, sustainable resources for power generation.

"Aside from the obvious environmental benefits, renewable energy is much more suited to developing countries because projects may be pursued as small-scale enterprises by small-to-medium sized companies," explained Angara.

Angara also heads the Congressional Commission on Science, Technology and Engineering or COMSTE, which leads the government's R&D efforts in renewable energy.