News & Update

Lecturing at the Green Climate Fund (GCF) seminar, proposing Climate Change measures for renewable energy projects in Mindanao Island

Chodai participated and had a presentation in  "Seminar for facilitating collaboration on The Green Climate Fund (GCF) project formation and implementation in the Philippines" held in Manila on Wednesday, February 28, 2018.

The Green Climate Fund (GCF) aims to provide financial support to deal with climate change in developing countries. The decision to establish GCF was made during the COP16 (2010) to act as the operating body and financial mechanism of the United Nations Framework Convention on Climate Change. Forty-three countries, mainly developed countries, have declared approximately US$10.3 billion in financial assistance to establish the GCF, and Japan has also decided to contribute US$1.5 billion to the project.

This is the first GCF seminar in the Philippines. In line with the Philippine government's needs to utilize the GCF and the fact that there are currently no GCF projects in which Japanese companies are involved, the Ministry of Economy, Trade and Industry (METI) and the Philippines' Department of Environment and Natural Resources (DENR) hosted the seminar aiming for initial formation of projects involving Japanese companies that could be candidates for the utilization of the GCF.

Mr. Satoshi Kato, General Manager of Finance & Legal Division, Corporate Planning Group and  president of Chodai Philippines, Mr. Masayuki Oura, Manager of Business Planning Division, Business Promotion Group and  vice president of Chodai Philippines, and Dr. Yuji Munehiro, General Manager of Business Planning Division, Business Promotion Group participated in this seminar. Dr. Yuji Munehiro gave a presentation which focused on small hydropower project (approx. 10MW) and wind power generation (approx. 150MW) projects. He also discussed about the challenges and risk posed by climate change followed by the scope of project proposals, estimated project cost, the key effects of the said power generation projects and also talked about the paradigm shift factors. To mitigate the increased risk of natural disasters caused by climate change, he proposed the application of tunnel construction method for headraces of small hydropower and utilization of highly efficient and wind-resistant turbines for wind power generation.

We will continue to make strong contributions to the economic development of Mindanao, especially in the areas around Butuan City by being the link between Japan and other Japanese companies in order to maximize the opportunities for participation of various Japanese governmental agencies, local governments and private companies.