BY JOEL C. ESCOL, Managing Editor
Manila, Philippines — March 18, 2024 — Francisco Motors, a renowned automotive manufacturer committed to innovation, and NetZero Global, a pioneer in Environmental Ventures, have joined forces in a historic collaboration aimed at revolutionizing transportation and spearheading the decarbonization efforts in the Philippines. This partnership intends to either manufacture or repurpose hydrogen-powered vehicles, including jeepneys, utility vehicles, buses, and taxis, setting the stage for a sustainable and eco-friendly transport system.
The Partnership
The collaboration between Francisco Motors and NetZero Global signifies a significant milestone towards achieving a decarbonized, energy-independent, and prosperous Philippines. With the creation of the NetZero Global Hydrogen Economy in the Philippines, both entities are poised to reshape the nation’s transport landscape while addressing pressing environmental concerns.
Hydrogen Economy and Environmental Impact
A hydrogen economy holds the promise of reducing greenhouse gas emissions, enhancing energy security, and driving economic growth through job creation and technology transfer. By eliminating approximately US$9 billion in foreign exchange payments for fossil fuels, the initiative aims to bolster the Philippines’ economic resilience while fostering energy self-sufficiency. Moreover, the introduction of hydrogen-powered vehicles is set to combat climate change and roadside pollution, significantly contributing to environmental preservation.
Alignment with The Paris Agreement/Nationally Determined Contributions
In a commitment to environmental stewardship, Francisco Motors and NetZero Global have partnered with Maharlika Carbon, the Philippines Article 6 Registry, to access climate finance under Article 6 of The Paris Agreement. This strategic alliance will facilitate the mobilization of US$5 billion for the development and deployment of hydrogen-powered transportation infrastructure, reaffirming the Philippines’ dedication to its Nationally Determined Contributions and positioning it as a leader in environmental initiatives.
Collaborative Efforts and Future Outlook
The collaborative efforts of Francisco Motors, NetZero Global, and Maharlika Carbon underscore a shared vision for a sustainable future characterized by economic prosperity, environmental preservation, and social equity. Through innovation, partnership, and collective action, these organizations are set to drive meaningful change and leave a lasting legacy for generations to come.###
