Connect with us

Hi, what are you looking for?

Economy

DBM considering ‘green’ standards for gov’t procurement

THE Procurement Service (PS) of the Department of Budget and Management (DBM) is planning to impose a green public procurement (GPP) standard to ensure that the government spends in a sustainable manner.

“The establishment of an inter-agency technical specifications review committee is one of the reform initiatives we spearheaded to take government procurement to a sustainable track,” PS Executive Director Dennis S. Santiago said in a statement.

The committee will be formed to implement GPP and assess, review and evaluate the sustainability of common-use supplies and equipment technical specifications.

The specifications will need to comply with Philippine and international standards, as well as address environmental, social and economic aspects of government purchasing.

“Under a GPP regime, the government shall procure goods and services with reduced environmental impact throughout their life cycle,” the DBM said.

Budget Secretary Amenah F. Pangandaman said that integrating “green choices in public procurement puts the Philippines closer to its ultimate goal of ensuring sustainable management and use of natural resources by 2030.”

“GPP provides the opportunity for government agencies to infuse environmentally-friendly parameters and requirements in the products that we procure, and in the process avoid the use of toxic substances; prioritize alternative green materials; reduce energy and water consumption during use; and recycle at the end of the useful life of the product,” Mr. Santiago added.

Apart from the PS, the committee will also include the departments of Environment and Natural Resources, Trade and Industry, Science and Technology, Information and Communications Technology; and Energy. — Luisa Maria Jacinta C. Jocson

Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

Economy

THE MONETARY Board signaled its readiness to continue raising benchmark interest rates if inflation persists, putting it at odds with other central banks which...

Economy

PRESIDENT Ferdinand R. Marcos, Jr. will invite potential investors to provide capital to his proposed sovereign wealth fund at the World Economic Forum meeting...

Economy

THE Philippine business delegation to the Davos conference in Switzerland was led by the heads of some of the country’s biggest blue-chip companies representing...

World News

WASHINGTON — New Jersey and Ohio said on Monday they were joining other states in banning use of the popular video app TikTok on...

Dislaimer: FutureMoneyFate.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 FutureMoneyFate.com All Rights Reserved. Spirit