First of two parts
LAST week, the Philippine Chamber of Commerce and Industry (PCCI) aired its concerns about a proposed bill colloquially referred to as the decarbonization bill. House Bill (HB) 7705, or the "Low Carbon Economy Act," was refiled in March of last year and has been floating in legislative limbo ever since, but seems likely to receive some productive attention from Congress this year. The bill would establish greenhouse gas (GHG) emissions targets and limits on certain economic sectors, calls for the development of an emissions monitoring and reporting system, and lays the groundwork for the establishment of an emissions trading system in the country.
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