EU President launches Green Economy Team Europe initiative in Philippines

Philippines President Ferdinand Marcos Jr. and EU President Ursula von der Leyen witnessed the signing ceremony in Manila,Philippines on Monday. They signed a bilateral agreement on the Joint Declaration on the Green Economy Program, which would provide the former with a grant worth 60 million euros to pursue efforts on this front.

The Team Europe Initiative on Green Economy will develop an industry-led alternative model to the current plastic waste management approach, leading to more sustainable plastic value chains and a reduction of plastic waste and marine litter.

A policy dialogue platform at government level will promote the circular economy, renewable energy and energy efficiency. New private energy sector investments focusing on the mitigation of climate change will be identified.