IFC and First Balfour, a leading engineering and construction company in
Under the agreement, IFC will help First Balfour conduct assessments and viability studies to develop a robust electric vehicle (EV) system in the
FPIP has been looking at ways to create a stronger, more efficient transportation system within and outside the industrial park, in a manner that is inclusive and beneficial to locators, current transport service providers, and the nearby communities. By participating in the assessments and viability studies, it can also obtain deeper insights on movements inside the park to develop appropriate transport strategies and other approaches to achieve net zero carbon emissions in the future.
Located around 50 km away from
'Aligning with our mission towards decarbonization, we are actively exploring opportunities in the electric vehicle space to be able to provide an integrated infrastructure and services to our customers, such as FPIP. In this context, IFC's expertise will help us develop highly relevant market solutions that will ultimately help us to contribute to our country's resilient future,' said
An increasing number of businesses in
'A huge investment opportunity over the next decade, electric vehicles are critical in the fight against climate change and can help reduce emissions, lower transport costs, and create thousands of green jobs. So, developing an efficient and thriving e-mobility ecosystem is crucial for
IFC has been at the forefront of promoting green mobility in
Ranked among the most vulnerable countries to the effects of climate change, transport is the largest source of air pollution and energy-related greenhouse gases (31% of total GHG emissions) in
About IFC
IFC-a member of the
About First Balfour
With over 50 years of construction experience, First Balfour contributes to nation-building by delivering world-class engineering and construction services for a wide range of projects in renewable power and energy, transport infrastructure, water infrastructure, and high-value buildings. The company is accredited as a Quadruple A contractor, currently the highest license given to construction firms by the Philippine Contractors Accreditation Board, and is one of the few companies that consistently maintain a triple ISO certification under the standard ISO 9001:2015 for quality, 14001:2015 for the environment, and 45001:2018 for safety and occupational health. First Balfour takes pride in taking the lead in sustainability among the engineering and construction companies in
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