Philippines approves $34.8 billion green lane investments, $29.8 billion for renewable energy, in Q1 2024.

The Philippines has approved $34.8 billion worth of investments under its green lane program in Q1 2024, with a majority of the projects, worth $29.8 billion, being renewable energy focused. This initiative aims to accelerate the approval and registration of strategic investments, streamlining bureaucratic processes across various government agencies. The program aligns with the country's goal of expanding its energy sources and achieving a 35% renewable energy share in its power generation mix by 2030.