Digitalization to benefit PH’s ESG initiatives
Digitalization could boost the environment, social, and government (ESG) related communities and businesses in the Philippines amid the COVID-19 pandemic, said research firm ESG Intelligence.
In a report, ESG stated that Filipino consumers use twice as many digital services as before the pandemic with almost two-thirds of new digital consumers coming from non-metro areas in the first half of 2021.
The Philippines’ internet economy is also expected to double in value by 2025, the fastest projected growth in Southeast Asia.
ESG explained, “Protracted lockdowns and containment measures across the Philippines during the COVID-19 pandemic encouraged consumers to turn to digital tools for the fulfillment of daily tasks, as well as for work, education, and social connection.”
ESG Intelligence also pointed out that technology adoption helped micro, small and medium enterprises (MSMEs) maintain operations over the pandemic.
“In this way, increased digitization can enable equitable development across the archipelago, and looks set to present a sizable growth opportunity over the coming years,” the research firm added.
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