Manila (24 September) -- The Philippines can earn at least $1 billion from the emerging renewable energy market while laying claim as a significant player in the area of green energy.

According to German-Philippine Chamber of Commerce and Industries (GPCCI) president Klaus Schroeder, given the country's abundant solar, wind and geothermal resources, the country can also help mitigate environmental degradation and climate change.

Schroeder noted that the Philippines has started with the adoption of renewable energy as seen by its investments in solar, wind, geothermal and hydropower.

He added that there is an immediate need to scale things up if the country wants to remain globally competitive.