Pitch contest funds climate startups

IMPACT investing is gaining traction as a tool for driving social and environmental change alongside financial returns. Priya Thachadi, chief executive officer (CEO) of Villgro Philippines and co-founder of Impact Pioneers Network, defined it as a channel of risk capital to entrepreneurs who are addressing climate change by creating solutions that «push us forward to net zero.» While traditional investments primarily focus on financial returns, impact investing «aims to generate financial, social and environmental benefits» alongside the latter.

Greg Perez, director of xchange, one of the Network's co-managers, said that the Philippines is «the second-largest impact investing market in Southeast Asia in terms of number of deals.» He credits impact investing's growth over the next decade to an increased awareness of environmental issues, the urgent need to reduce carbon emissions and a growing ecosystem of socially conscious entrepreneurs.

The recent Climate Catalyst Startup Pitch Competition hosted by the Network gave nine early stage climate startups the opportunity to accelerate their investments into climate action in the Philippines. Hive Energy Philippines won the grand prize of P100,000, Sinaya Corp. placed second and won P50,000, and Rezbin Waste Technology Inc. ended in third place. All three winners, chosen out of nine early stage startups, will also receive technical assistance and business mentoring from the Network.

(From left) AC Dy, head of Incubation and Venture Support of Villgro Philippines; Diane Estepahine Bagui, program officer at Forest Foundation Philippines; John Altomonte, Corporates for a Better Planet Program lead of WWF-Philippines; Audrey Tangonan, CEO of Sinaya Cup; Joseph Amiel Camingal, CEO of Hive Energy Philippines; Mari Martirez, CEO of Rezbin Waste Technology Inc.; James Soriano, vice president of investments at Pasudeco; Greg Moral-Perez, director-investments of Impact Pioneers Network; and Priya Thachadi, co-founder of Impact Pioneers Network. CONTRIBUTED PHOTO

Joseph Amiel Camingal, president of Hive Energy Philippines, said that they will use the award to «support our continuing research and development that would make