NDC Signs MOU with Global Green Growth Institute, Boosts Philippine Environmental Strategy

The MOU signing between the NDC and GGGI marked a key opportunity for NDC to tap
into the technical expertise and assistance that could be offered by GGGI in helping
NDC - with an overall thrust for signing-on more green-based start-ups. This is a
perfect alignment with NDC’s forward-thinking investment priority sectors – one key
highlight would be in the area of sustainability, “balancing the country’s needs today for
tomorrow’s preservation”.

NDC General Manager Anton Mauricio, in his opening remarks and upon further
discussion with the media, highlighted the recent key approvals by the NDC board of
such like-minded ventures; such as the Davao Thermo Biotech Corp. (biofertilizer) and
Glovax (vaccine manufacturing). He further highlighted that NDC itself was cognizant
of the reputation that GGGI brings to the table.

Mr. Silvius, country representative of GGGI, gave an in-depth yet succinct explanation
of what GGGI can provide to the NDC and how GGGI has already partnered with other government agencies (including the Department of Trade and Industry).

As a treaty-based organization, GGGI, as per Mr. Silvius, is doing its best to work and assist developing countries like the Philippines to become a green-focused economy; in light of climate change issues that are now bearing down on the global economy. Mr. Silvius further stressed that GGGI is also aware that our companies (especially the MSME’s)
need to be given latitude and time to become more environmentally compliant but
GGGI is very understanding of how this will be done.

The signing ceremony was completed by both parties (Mr Mauricio for NDC, and Mr
Silvius for GGGI) and, to paraphrase Mr. Silvius’ remarks that “we have now signed the
document; now the real work begins”.

About the Global Green Growth Institute:

The Global Green Growth Institute (GGGI) is an international organization established in
2012 with the aim of fostering sustainable economic growth in developing nations and
emerging economies. Originally comprising 18 founding signatories, GGGI has since
expanded its membership, granting it a more substantial global presence and the ability
to draw upon diverse experiences in green growth strategies.

It also offers non-financial grants, providing technical and expert financial advice to
emerging businesses in waste management, recycling, and the green circular economy.
This support aims to prepare these ventures for commercialization. Subsequently, upon
qualification for scaling and expansion, the National Development Company can invest,
utilizing either traditional equity funding or our startup venture fund. This investment
strategy aims to de-risk the industry, enhancing its appeal to potential investors.

Source: NDC press release