Collaborating for Net Zero: Driving the Climate Transition with Geothermal Energy

Abstract

The Philippines, highly vulnerable to climate-related disasters, faces a critical need to decarbonize its energy sector, which is the leading source of national greenhouse gas (GHG) emissions. While the country has a 75% GHG reduction pledge for 2030, it lacks a national net-zero policy. This study examines the role of the private sector in this transition by exploring the awareness, strategies, and collaborative mechanisms of companies within the Net Zero Carbon Alliance (NZCA) that use geothermal energy. Using a qualitative approach with a written survey of open-ended questions, the study collected data from six NZCA members, predominantly from the manufacturing sector. The findings indicate these companies are committed to achieving net-zero emissions by 2050 or sooner. Their motivations for joining the NZCA include networking, peer learning, and cross-sector collaboration, which have significantly accelerated their decarbonization efforts. Geothermal energy is a central element of their strategies, as it provides reliable baseload power that has substantially reduced their Scope 2 emissions, allowing them to focus on more complex Scope 3 challenges. Companies highlighted that while collaboration through NZCA is vital, a supportive government policy is essential for scaling their efforts. They recommend fiscal incentives, streamlined regulations, and a clear national energy transition roadmap. The results underscore that achieving net-zero goals requires a combination of private sector commitment, technological adoption, and a strong policy environment that fully leverages the potential of geothermal energy for sustainable development.