The Covid-19 pandemic has revealed weaknesses in many aspects of the Philippines’ energy and financial market design and is now accelerating trends with the potential to reshape society, businesses, and social and physical infrastructure. But it has also demanded a demonstration of leadership in the Philippines as it champions global standards for finance and business. The pandemic has exposed the country’s ill-prepared supply chains, lack of digitization and inability to retain critical functionality during low-probability and high consequence events.
Rebuilding emerging market economies like the Philippines, and locking in a healthy recovery, hinges on increasing resilience and improving the country’s ability to deal with shocks of non-financial origin. This calls for leadership from the financial and energy sectors to encourage critical investments in climate mitigation, pandemic preparedness, and sustainability.
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