An alternative paradigm for economic growth

Across the globe, a profound shift is under way — one that seeks not only to preserve the planet but to reform the very systems that fuel economies, shape industries, and dictate the distribution of power and resources. Sustainability is now being positioned not as a cost or constraint, but as an engine of growth. When economies move toward low-carbon and climate-conscious models, innovation is unlocked, new markets are created, and human development becomes more equitable and resilient.

The ways in which businesses can proceed further into the green transition were initially explored in the second fireside chat of BusinessWorld Forecast 2026 forum, which gleaned insights from Jose Victor Emmanuel “Jocot” A. de Dios, currently the chief executive officer (CEO) of Manila Water Co., Inc. and also the incoming president and CEO of Prime CoreGen, the gas unit of Prime Infrastructure Capital, Inc. (Prime Infra).

Rethinking growth

Among the points discussed, it was noted that the green transition presents an alternative paradigm. It posits that development can be regenerative rather than exploitative, with renewable energy, circular production, green finance, sustainable infrastructure, and nature-based solutions redefining how value is built.

As the country accelerates this shift toward regenerative model or development, the success of the green transition hinges not only individual sustainability initiatives but on systems that enable them to scale.

Renewable energy projects, for instance, can only deliver their full economic and environmental value if the country possesses the capacity to transmit clean power efficiently from production sites.

Green growth is inseparable from the readiness of national infrastructure — especially in the energy sector, where stability, connectivity, and resilience determine long-term viability.

Sustainability in the local context

The fireside chat also tackled how the green transition should take the local context, especially the country’s current standing as a developing economy, in contrast to other countries which have seen gains from investing aggressively in renewable capacity, such as strengthened energy independence and increased job generation.

“You also have to grapple with the fact that we are a developing country,” Mr. de Dios noted.

He underscores inherent tension between ambitious sustainability goals and the constraints faced by emerging economies, such as limited public resources, competing social priorities, and the need to maintain affordable energy for households and industries.

While developed nations can transition rapidly because of infrastructure and abundant capital, other nations must balance environmental imperatives with economic inclusivity and growth.

The Philippine transition, therefore, cannot simply replicate global models. It must be designed around local contexts, calibrated investments, and phased implementation that protects both competitiveness and social welfare.

Mr. de Dios also shared that sustainability has to be tightly linked to the purpose of a business.

“By nature of our business, our reason for being is to be sustainable, environmentally friendly, and responsible utility,” he said. “Otherwise, we have no product to supply to our customers… My position is whatever makes sense in terms of the abundance of resources that you have, you take advantage of.”

Manila Water CEO Jose Victor Emmanuel “Jocot” A. de Dios

Sustainability as a competitive advantage

The fireside chat also raised that firms that embrace sustainable models reduce long-term operational risk, build consumer trust, and tap into funding and market opportunities.

Circular economy models, for instance, demonstrate the strongest business case for sustainability: designing products for reuse, repair, and recycle reduces costs while capturing additional value from materials that would otherwise be discarded.

Green supply chains increase efficiency and transparency, lowering emissions and operational uncertainties. Companies that integrate environmental, social, and governance (ESG) criteria have access not only to investors motivated by ethics, but to mainstream capital markets that recognize sustainability as a determinant of long-term financial stability.

The business advantage of sustainability is also supported by consumer preference. As awareness grows, customers — especially young demographics — demand environmentally responsible brands.

The market is shifting, and companies that align with sustainability do not simply survive change; they lead it.

Empowering people

The discussion also stressed how the green transition should be human-centered.

“We do have a lot of water, but at the core of it sometimes, people do not appreciate the value of water,” Mr. de Dios noted.

The Manila Water executive also stressed the need for productive conversations regarding the impact of climate change.

“We talk about [climate change] pretty much every day because if the rains don’t fall, then we don’t have water to supply,” he said.

Education and capacity-building enable communities to lead climate solutions rather than merely adapt to them. Indigenous knowledge, rooted in centuries of sustainable land and resource management, plays a vital role in conservation, biodiversity protection, and community-based adaption strategies.

Sustainability creates employment across a vast range of sectors. More importantly, many green jobs do not replace existing workers but reskill and transform them.

Financing the transition

The discussion also raised how economic stability hinges on strategic investment. The rise of green finance (e.g., sustainability-linked bonds, climate funds, carbon markets, and responsible investment portfolios) embodies the growing recognition that climate risk is financial risk.

“A balanced portfolio of generating assets is the way to go forward, given the economic situation that we face,” Mr. de Dios said.

Capital mobilization for green projects is not simply ethical; it safeguards the global economy from climate-driven supply chain disruptions, resource scarcity, and disaster costs.

The government also play an enabling role by offering tax incentives, subsidies, and regulatory frameworks that align private and public interests.

Mr. de Dios also suggested two significant tasks to financing improved water distribution.

“First thing, the regulatory environment should be looked at,” he said. “The second is creating the right incentive to compel the private sector to come in where the government is not successful.”

In addition, international cooperation ensures that developing nations have access to technology, funding, and capacity for sustainable transformation.

The path of sustainability demands courage and collaboration; but it carries something more powerful than risk — hope. Hope that is grounded in science, economics, and collective aspiration is what makes the green transition not only an imperative but the greatest opportunity of growth in our time. — Krystal Anjela H. Gamboa