It will be the foundation’s first office in Southeast Asia. Speaking at the annual Ecosperity conference convened by Singapore state investor Temasek, the American billionaire philanthropist also said the Trump-led pushback on climate will subside.

EB Studio Amid escalating climate losses and no net zero goal in sight, a newly proposed Low Carbon Economy Investment Act and ambitious private sector-led initiatives only way for Philippine industries to decarbonise.

Regulation is a crucial factor that investors consider before funding carbon projects, experts said at a recent event in Malaysia. Developers argue that the system does not need to be perfect to kickstart projects.

Speaking at Eco-Business's flagship summit, environmental sustainability minister Nik Nazmi also said there is government will to ultimately shift away from a regime in which its largest utility TNB has near monopoly on energy distribution.