Countries that get a head start in developing low-carbon technologies today will be the major economies of tomorrow. The ‘green race’ is the idea that economies can strategically position themselves to take advantage of growing low-carbon markets and succeed in capturing global market share.

The discussion paper by ClimateWorks Australia and Vivid Economics suggests that the Philippines can further specialise in green technologies such as solar photovoltaic and lighting as part of an industrial strategy that is inclusive and innovation-led. This would propel growth in green jobs and bring energy security. The Philippines already has significant export strengths in solar PV and efficient lighting, with promising opportunities in geothermal and energy storage.