In a landmark agreement aimed at transforming the transport landscape and decarbonising the Philippines, Francisco Motors and NetZero Global have announced their collaboration to either manufacture or repurpose hydrogen-powered jeepneys, utility vehicles, buses and taxis in the Philippines. This revolutionary initiative not only promises to elevate the nation's public transportation system but also presents significant economic and environmental benefits through the creation of jobs, transfer of technology and decarbonization of the Philippines economy.
A hydrogen economy across the Philippines will reduce greenhouse gas emissions, enhance energy security, and foster economic growth, jobs and technology transfer. One of the key objectives of this collaboration is to alleviate the economic and environmental burden on the Philippines by eliminating the need for approximately US$9 billion in foreign exchange payments for fossil fuels. By shifting towards locally produced green hydrogen-powered vehicles, the Philippines can significantly reduce its reliance on imported fossil fuels, bolstering its economic resilience and fostering energy self-sufficiency.
Moreover, the introduction of hydrogen jeepneys, utility vehicles, buses and taxis through decarbonization of the transport network combats climate change and roadside pollution, whilst advancing environmental rejuvenation. These vehicles will operate on clean, green and fully renewable and sustainable energy, emitting only water vapor as a byproduct, thus contributing to the reduction of greenhouse gas emissions and mitigating the adverse effects of air pollution.
In line with the commitment to environmental stewardship, Francisco Motors and NetZero Global have partnered with Maharlika Carbon, the Philippines Article 6 Registry to access climate finance thus contributing to the Philippines Nationally Determined Contribution as agreed with the UNFCC. This strategic collaboration will enable the mobilization of US$5 billion for the development and deployment of hydrogen-powered transportation infrastructure, further reinforcing the Philippines' position as a pioneer in Article 6.
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 poised to drive meaningful change and leave a lasting legacy for generations to come. Stay tuned for updates and developments as Francisco Motors, NetZero Global, and Maharlika Carbon embark on this transformative journey to reshape the future of transportation and the Environmental Markets in the Philippines.
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