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Earth Hour 2024 Calls for Filipinos to Switch Off Lights and Switch Off Single-use Plastics
Filipinos can help in solving two of our planet’s biggest problems, biodiversity loss, and climate change, by doing their part in conserving energy and putting an end to the problem of plastic pollution. Earth Hour 2024, set on March 23, Saturday will once again bring together millions of people across the world so they can […].....»»
Heads should roll over Chinese recruitment in PCG – lawmaker
Whether in good faith or not, recruiting Chinese nationals into the Philippine Coast Guard should make the concerned government officials “accountable” even if the foreigners were just members of an auxiliary group, a lawmaker said yesterday......»»
Gatchalian wants to hold gencos accountable for power outages
Power-generating companies that are unable to provide a stable and steady supply of electricity should be held accountable for outages that result in economic losses, according to Sen. Sherwin Gatchalian......»»
Dozens of US states sue Meta over harm to children
Dozens of US states on Tuesday filed a lawsuit accusing Facebook and Instagram owner Meta of of profiting "from children's pain," damaging their mental health and misleading the public over the safety of its platforms. "In seeking to maximize its financial gains, Meta has repeatedly misled the public about the substantial dangers of its Social Media Platforms," argued the suit filed in federal court in California. In total more than 40 states are suing Meta, though some opted to file in local courts rather than join in the federal case. Meta has exploited young users by creating a business model designed to maximize time they spend on the platform despite harm to their health, the legal filing argued. "Kids and teenagers are suffering from record levels of poor mental health and social media companies like Meta are to blame," said New York Attorney General Letitia James in a statement announcing the suit. "Meta has profited from children's pain by intentionally designing its platforms with manipulative features that make children addicted to their platforms while lowering their self-esteem." The suit goes on to accuse Meta of misleading the public about the safety of its platforms, including a Horizon World virtual reality offering that is part of the tech titan's vision of the metaverse. The suit urges the federal court to order Meta stop manipulative tactics and pay hefty financial penalties along with restitution, according to James. "Social media companies, including Meta, have contributed to a national youth mental health crisis and they must be held accountable," James said. Meta said it was "disappointed" by the suit. “We share the attorneys general's commitment to providing teens with safe, positive experiences online, and have already introduced more than 30 tools to support teens and their families," a spokesperson said. "We're disappointed that instead of working productively with companies across the industry to create clear, age-appropriate standards for the many apps teens use, the attorneys general have chosen this path." The post Dozens of US states sue Meta over harm to children appeared first on Daily Tribune......»»
DoJ probing subcontracting ‘swindle’
The Department of Justice will look at the circumstances regarding the filing of multiple counts of swindling against corporate officials of a global telecommunications equipment firm. The DoJ will review the 29-page complaint recently lodged before the National Prosecution Office against eight Manila-based Ericsson Telecommunications Inc. officials. The officials are facing estafa charges for allegedly refusing to pay local subcontractors some P54 million covering 32 completed projects in Luzon alone. The “swindled” Filipino subcontractors completed various technical works involving system integration, structured cabling, civil works, and electrical services for a long list of projects in malls, hospitals, business centers, and schools from 2020 to 2023. The DoJ expressed determination to resolve what appears to be a common practice by foreign investors who take advantage of Filipino subcontractors. The department reminded foreign entities to comply with Republic Act 5455, which requires companies owned in whole or in part by foreigners to contribute to the sound and balanced development of the national company on a self-sustaining basis. The DoJ also warned that abusive foreign investors would be held civilly and criminally accountable. Respondents in the criminal case were foreign corporate bosses Martin Wiktorin, Jesmin Ehsan, Johan Kvist and Wee Tiong Ng. Estafa charges were also filed against Emerson Clemena, Jose Michael Hernal, Charis Heidi Ibarra and Roderick Reodica — all holding office at Ericsson’s Bonifacio Global City office in Taguig City. The government does not condone foreign business companies taking advantage of Filipino subcontractors. The post DoJ probing subcontracting ‘swindle’ appeared first on Daily Tribune......»»
‘Kuha sa Tingi’ aims to combat plastic pollution
Quezon City government announced over the weekend that it has partnered with Greenpeace Philippines to tackle the urgent plastic pollution crisis and enhance existing city ordinances regulating the use of single-use plastics. Co-developed with community stakeholders and the city government, Kuha sa Tingi seeks to provide accessible and affordable alternatives to sachets and plastic-packaged goods. The project aims to empower communities to access goods without contributing to plastic pollution by promoting reuse and refill systems. Quezon City Mayor Joy Belmonte believes this is a critical initiative, stating, "Kuha sa Tingi is a testament that being sustainable and eco-friendly can be affordable and inclusive, especially for those who belong to the marginalized sector. "With this initiative, we were able to lessen the usage of products in sachets, and at the same time prevent these from ending up in our waterways when not properly disposed of,” she said. The program started on 10 July 2023 with 30 participating pilot stores. Throughout the 8-week program, sari-sari stores were able to gain a total of P143,286 in sales, an average of 4,776 per store, and consumers were able to save P143 per week. They were able to divert 47,601 sachets or a total of 1,428,030 mL of plastics in volume. Given the magnitude of this issue and the surge in plastic production in recent years, Greenpeace believes it is imperative to implement effective and impactful solutions to reduce production and dependence on single-use plastic. The project does so by developing a sustainable business model anchored on concepts of reuse and refill as well as providing consumers with an array of zero-waste alternatives that are simple, affordable, and readily accessible for their daily needs. “Extending across multiple barangays and various types of enterprises in Quezon City, Kuha sa Tingi is a testament to the broad range of positive impacts of reuse and refill systems. This proves the viability, affordability, and accessibility of reuse and refill systems as alternatives to sachets, offering a tangible solution to diminish plastic pollution within our communities. The results of Kuha sa Tingi show that companies can adopt reuse and refill, and they should do so immediately,” said Marian Ledesma, Zero Waste Campaigner at Greenpeace Philippines. Cities, communities, and local enterprises are currently at the forefront of pioneering solutions to combat plastic pollution through the advancement of business models centered around the reuse and refill systems. Under the Global Plastics Treaty, governments are mandated to support these existing efforts and future development by establishing global standards and mechanisms to enable refill and reuse to be supported, replicated, and scaled across countries and regions. “Major contributors to plastic pollution, such as plastic-dependent corporations and fossil fuel companies that are reaping benefits from the proliferation of plastic products, should be held accountable to reduce plastic production and phase out single-use plastics. Companies must be obligated to adapt and integrate the reuse and refill systems into their business models. This shift is essential for mitigating the environmental impact of their operations,” said Ledesma. "The program empowers our community to do their part in protecting our environment. This will serve as an inspiration to other sari-sari store owners, barangays, and even companies to reduce their plastic waste and switch to reusable and sustainable options," Mayor Belmonte added. Greenpeace is calling on governments to engage in reuse and refill initiatives like Kuha sa Tingi, and urging them to strengthen public policies that regulate the production and use of single-use plastics. The post ‘Kuha sa Tingi’ aims to combat plastic pollution appeared first on Daily Tribune......»»
California sues oil giants, alleging climate risks deception
The US state of California sued five of the world's largest oil companies on Friday, alleging the firms caused billions of dollars in damages and misled the public by minimizing the risks from fossil fuels, according to a court filing. It follows numerous other cases brought by US cities, counties, and states against fossil fuel interests over the impact of climate change as well as alleged disinformation campaigns spanning decades. The civil case was filed in a superior court in San Francisco against ExxonMobil, Shell, BP, ConocoPhillips, and Chevron, which is headquartered in California. The American Petroleum Institute, an industry group, is also a defendant in the case. "Oil and gas company executives have known for decades that reliance on fossil fuels would cause these catastrophic results, but they suppressed that information from the public and policymakers by actively pushing out disinformation on the topic," the 135-page complaint read. "Their deception caused a delayed societal response to global warming. And their misconduct has resulted in tremendous costs to people, property, and natural resources, which continue to unfold each day." The suit seeks the creation of an abatement fund to pay for future damages caused by climate disasters in California, which is on the front lines of climate change-fueled wildfires, flooding and other extreme weather phenomena. "By downplaying the scientific consensus on climate change and emphasizing uncertainty, Defendants hoped to delay any regulatory action that might seek to reduce or control (greenhouse gas) emissions, thereby threatening the industry's profits," the complaint added. Representatives of the defendants did not immediately reply to requests for comment from AFP. "For more than 50 years, Big Oil has been lying to us -- covering up the fact that they've long known how dangerous the fossil fuels they produce are for our planet," California Governor Gavin Newsom said in a statement on Friday. "California is taking action to hold big polluters accountable," he added. Since the current wave of environmental litigation against fossil fuel firms began around 2017, the industry has sought to avoid state trials on procedural grounds. That effort received a major blow in May when the US Supreme Court declined to consider an appeal in two cases, meaning they could proceed. The lawsuits are modeled on successful cases against Big Tobacco as well as against the pharmaceutical industry over the proliferation of opioids. The post California sues oil giants, alleging climate risks deception appeared first on Daily Tribune......»»
JPE: Merger can’t happen
The proposed merger of the Land Bank of the Philippines and the Development Bank of the Philippines can’t be done because of legal infirmities — LandBank still holds the private shares it obtained after it absorbed the United Coconut Planters Bank or UCPB. “The problem there is how would they merge the two banks when UCPB, which was taken over by LandBank, had private shareholders, who were mostly coconut farmers,” according to Presidential Legal Counsel Juan Ponce Enrile. “Who are they to confiscate the properties of Filipinos? The Constitution says: ‘No person shall be deprived of life, liberty, and property without due process,’” he pointed out. “If President Ferdinand ‘Bongbong’ Marcos will ask my opinion on the merger, I will probably express a negative position,” Enrile said on his weekly program, Bayan ni Juan. Enrile blamed the Presidential Commission on Good Government or PCGG for mismanaging UCPB, which led to its bankruptcy, the reason for its consolidation with LandBank. “Who should be accountable for the millions of pesos lost in UCPB?” he asked. Enrile accused PCGG agents and nominees of squandering the money of the bank. Class suit appropriate “UCPB stockholders should file a class suit against the PCGG. It was not the fault of the share owners what happened to the bank, it was the fault of the government and the PCGG.” “They failed to manage the bank well considering that 72.5 percent of the bank’s shareholders were private individuals,” he said. “PCGG’s first chairman was former senator Jovito Salonga; he was then followed by a lineup of crocodiles who were responsible for the dissipation of the funds in UCPB,” according to Enrile. “UCPB, before it was taken over by the government, was a very lucrative and liquid bank. When the pilferers took over, we do not know what happened to the contributions of the coconut farmers,” he said. “Should we forget what happened, without anybody answering for it?” Enrile asked the Bureau of Internal Revenue, for instance, to run after the PCGG officials and employees who enriched themselves with the stolen money. “There were many who became rich at the expense of UCPB,” he said. “(The administration of the late President Cory Aquino) made it appear that UCPB was funded using ill-gotten money; they just did not understand the objective in creating the bank,” the former Senate President said. After the EDSA Revolt on 25 February 1986, among the first moves of the then “revolutionary government” of Aquino was to create the PCGG to investigate and recover the ill-gotten wealth. On 31 July 1987, the PCGG sequestered shares of stock in UCPB registered in the names of one million coconut farmers under the so-called Coconut Industry Investment Fund companies and those owned by tycoon Eduardo Cojuangco Jr. The sequestered UCPB shares were then worth an estimated P10 billion but have grown lately to around P70 billion, including the San Miguel Corp. shares bought with coconut levy funds. On 28 February 2001, the Sandiganbayan First Division ordered the PCGG to allow the CIIF companies and Cojuangco to vote on the sequestered UCPB shares. On 14 December 2001, the Supreme Court reversed Sandiganbayan’s decision, ruling that the PCGG had the right to vote on the sequestered UCPB shares. First universal bank UCPB, founded in 1938, was the first universal bank in the country. The PCGG argued that the sequestered UCPB shares were acquired with coconut levy funds, which were public in character. The CIIF companies and Cojuangco countered that they were the rightful owners of the sequestered UCPB shares. “The government takeover of UCPB was an injustice to the coconut farmers. Nothing has happened since to address the injustice,” Enrile said. After the funds of the bank were depleted, it borrowed money from LandBank. Enrile said the merger of LandBank with DBP will have the effect of removing the PCGG’s responsibility for the injustice done to the small farmers. “They want to erase the wrong done to the poor,” he said. “Those favoring the merger should be aware of the need to repeal the law that created the DBP to allow the transfer of its assets to LandBank. Both are chartered government enterprises,” Enrile noted. He added, “I respect the position of Finance Secretary Benjamin Diokno (in advocating the merger) but he is not a lawyer.” On 25 June 2021, former President Rodrigo Duterte signed Executive Order 142, approving the merger of LandBank and UCPB. On 14 December 2021, UCPB shareholders approved the merger plan. On 1 March 2022, the merger took effect. LandBank became the surviving entity and UCPB was dissolved. In July 2022, UCPB branches throughout the country started being converted to LandBank branches. On 1 March 2023, the merger was fully completed resulting in a combined asset base of P2.8 trillion, making LandBank the second-largest bank in the Philippines. The post JPE: Merger can’t happen appeared first on Daily Tribune......»»
Render unto Ceasar
The Catholic Bishops’ Conference of the Philippines’ plenary assembly in 2022 said the Roman Catholic Church will divest from banks and projects that are involved in fossil fuels as part of its contribution to the movement for clean energy. The warning showed the financial muscle through its corporate shares that the bishops can muster to influence the realm of business. In a pastoral letter, the CBCP said it will use its shareholdings in domestic banks to demand policies and plans to “phase out their exposure to coal, fossil gas, and destructive energy in line with the 1.5°C ambition.” “Without clear commitments and policies from these banks to divest from fossil fuels, we commit to withdraw all our resources that are with them not later than 2025, and hold them accountable to their fiduciary duties and moral obligations as climate actors,” read the pastoral letter. In its latest pastoral letter about the “climate emergency” last March, however, the Church bravado has dissipated and instead has been replaced by a warning that it will enforce the “CBCP-initiated non-acceptance policy of donations of whatever kind, from owners or operators and any representative of extractive companies regardless of the scale of operation.” The new position is oceans apart from the earlier encompassing threat to divest from all dirty energy projects and their financiers. Such flip-flops have been the impediment of the Church in exerting its supposed moral guidance in what the Bible says is Caesar’s domain. The Catholic Church is heavily invested in the biggest corporations in the country. In San Miguel Corporation, for instance, the list of its top 100 shareholders shows more than P600 million in investments from Church-affiliated entities. The Archbishop of Manila is currently listed as the fifth largest shareholder in one of the biggest lenders in the country, which is a huge provider of loans to energy projects, with 62 percent of its energy portfolio comprising coal. The bank’s exposure to coal projects is estimated at $444.82 million. The archbishops of archdioceses in Jaro, Iloilo, and Zamboanga are also major stockholders of the bank. The Manila archdiocese is also among the top shareholders in a giant mining firm through shares worth more than P66 million. It also has huge capital as a supplier of construction materials. When the Catholic Church appealed for donations for the renovation of the Manila Cathedral in 2013, top corporation SMC came to its aid with P50 million while Metrobank donated P20 million. In no time at all, the P136-million project was funded. Regarding donations, in 2011, the Philippine Charity Sweepstakes Office named a priest and several Catholic bishops who received sports utility vehicles funded through the agency’s charity fund. The PCSO revelation sparked a Senate investigation and the bishops agreed to surrender the vehicles. A Commission on Audit report said the grant of the five vehicles amounting to P7 million violated the constitutional provision that “no public money or property shall be appropriated, applied or employed directly or indirectly, for the use of, benefit or support to any sect, church, denomination… except when such priest, preacher or dignitary is assigned to the Armed Forces or any penal institution, or government orphanage or leprosarium.” During a Senate investigation on the controversy, PCSO director Aleta Tolentino revealed that a bishop asked for a car as a birthday gift but used the welfare of the poor as an excuse. During the inquiry, Tolentino said, “We are not against the Church. We are just denouncing what happened in the past — corruption of government funds, which is prohibited by the Constitution itself.” “Would the bishops rather that we keep mum or lie about it? Would they want us to just keep quiet about this?” she added. With its heavily compromised state as a result of its financial involvement, the Church has abandoned its role as a conscience of society in the pursuit of uplifting the lives of Filipinos. The post Render unto Ceasar appeared first on Daily Tribune......»»
‘Bagong Pilipinas’ logo produced at zero cost
The Presidential Communications Office produced the new governance brand "Bagong Pilipinas (New Philippines)" without incurring any costs to the government, Malacañang said on Sunday. The Palace made an explanation amid recent controversies over the country's tourism campaign and the new logo of the Philippine Amusement Gaming Corp. "The logo was produced internally by the Presidential Communications Office and underwent complete staff work to ensure adherence to the heraldic code," PCO said in a statement sent to reporters in a Viber message. "The Bagong Pilipinas logo embodies the Marcos Administration’s vision for the country, emphasizing unity, involvement, and the bayanihan culture as the main fibers and components for its full realization," PCO added. The communications arm of Malacañang explained that the newly-unveiled Bagong Pilipinas logo is a visual representation of the Philippines' journey to the future. The logo features three red stripes, symbolizing significant historical development periods: the post-war agricultural and rural development, the post-colonial period, and the current metropolitan development. According to the PCO, blue stripes represent the goals for the future — a progressive Philippines that leverages technological advancement in pursuing sustainable industrial development. The rising sun signifies the dawn of a new Philippines, symbolizing the country's desire to take center stage in the global market and community of nations. The weave pattern illustrates the interconnectedness and unity of the Filipino people, as the vision of a Bagong Pilipinas can only be achieved through collective effort, collaboration, and a shared commitment to progress. "Just as individual strands come together to form a strong and intricate weave, the Filipino people, with their diverse backgrounds and talents, as well as rich cultural heritage, contribute to the strength of the nation," PCO said. In a separate Memorandum Circular, Marcos told all national government programs and projects to use his administration's "Bagong Pilipinas" name. Memorandum Circular 24 — dated 3 July but wasn't immediately made public until over the weekend — told all government agencies, companies, state universities, and colleges to follow the administration's rules, strategies, and goals. "Bagong Pilipinas is the overarching theme of the administration’s brand of governance and leadership, which calls for deep and fundamental transformations in all sectors of society and government, and fosters the State’s commitment towards the attainment of comprehensive policy reforms and full economic recovery,” the memorandum read. MC 24 added that the new campaign is "characterized by a principled, accountable, and dependable government." The memorandum mentioned that all national government agencies should use the "Bagong Pilipinas" logo on their letterheads, websites, official social media accounts, and other documents connected to the government's flagship programs. The post ‘Bagong Pilipinas’ logo produced at zero cost appeared first on Daily Tribune......»»
Digital activism big deal in Phl — study
A recent study by data analytics firm Agile Data Solutions revealed that Filipinos are stepping up in the era of digital activism. According to the study, 64 percent of Filipinos are engaging in “woke” discussions primarily “to ignite conversations and awareness about social issues,” while 43 percent are engaging in “cancel” culture contents “to hold individuals or organizations accountable for their actions or statements.” The study was rolled out online in May 2023 to 600 Filipino participants aged 18 and above using the Hustle PH app. Heightened political engagement The study showed that four out of 10 Filipinos expressed that these kinds of content heightened their levels of political engagement, encompassing activities such as activism, voting in elections and engaging in campaign efforts. Further, the study also found that 30 percent of the participants identified women’s empowerment as the most critical issue to discuss online, 26 percent pointed to live-in relationships, and 24 percent highlighted LGBTQIA+ rights as equally essential topics of online discourse. “The study reveals that even though most Filipinos may be confused by current ‘woke jargon’, they actively take a progressive stand on women empowerment, LGBTQ rights and environmental protection,” said Jason Gaguan, founder of Agile Data Solutions. “The broad range of topics also suggests a community that values diverse perspectives and is actively seeking to broaden its understanding of various lifestyle choices,” he added. Market behavior and preference The study noted that cultural influence is also evident in the respondents’ buying patterns as consumers increasingly prioritize aligning brands’ values with their own. More than half of the participants or 57 percent said “woke” culture made them “put more emphasis on how goods and services are being marketed or promoted,” and 55 percent said the same due to being exposed to “cancel” culture. “Consumers are increasingly becoming conscious of a brand’s values and integrity, and they are willing to make purchasing decisions based on these factors,” Gaguan said. Additionally, 51 percent of those surveyed said “woke” content made them “more focused on who’s selling the goods and services rather than the actual product.” The survey also reveals 44 percent of the respondents are “more likely to support brands that share my values or promote social justice.” In comparison, 30 percent reported avoiding purchasing from companies that had been “canceled” due to offensive or harmful behavior. The post Digital activism big deal in Phl — study appeared first on Daily Tribune......»»
Three firms join driver’s cards bid
Three local companies have submitted their proposals to the Central Bids and Awards Committee of the Department of Transportation to become the new supplier of plastic cards used for printing driver’s licenses. The Committee disclosed that All Card Inc., Peterjohn Enterprises and Banner Plasticard, Inc. participated in the ongoing competitive bidding for driver’s license card procurement. The deadline for submission ended on 24 May. “With impartiality and transparency at the core, this event manifests a level-playing field where opportunities are being presented to those with the most innovative and compelling proposals,” the DoTr said, referring to the ceremonial opening of bid last Wednesday. Backlash To recall, the Land Transportation Office faced backlash after it ran out of plastic cards to print driver’s licenses, which forced the agency to print makeshift copies on paper. It was on top of the projection that license plate materials are likely to also run out by June. Transportation Secretary Jaime J. Bautista reiterated that procurement should have been made by the LTO in August last year as it could have prevented the materials shortage and delayed release of licenses to motorists. However, outgoing LTO chief Jay Art Tugade, on the other hand, attributed the problem to the DoTr’s issuance of an order that mandated all procurement activities worth over P50 million must pass through the central office. Tugade was referring to a Department Order dated 28 February, which ruled out several functions from the MRT-3, DoTr Regional Offices in Cordillera Autonomous Region and Caraga, Land Transportation Office, Land Transportation Franchising and Regulatory Board and Philippine Railways Institute. With impartiality and transparency at the core, this event manifests a level-playing field where opportunities are being presented to those with the most innovative and compelling proposals. Agency-to-agency procurement To immediately resolve the plastic card shortage, the DoTr earlier said it may explore agency-to-agency procurement for the material supply. Bautista previously said he has reached out to the National Printing Office and APO Production Unit on their technical capability to supply the cards. APO Production Unit Inc. is a government-owned corporation that handles the printing of accountable forms and sensitive high-quality/volume printing jobs for Philippine agencies and offices. But before the DoTr implements an agency-to-agency arrangement, there needs to be a memorandum of agreement, as required under existing laws, rules, and regulations. The post Three firms join driver’s cards bid appeared first on Daily Tribune......»»
MARINA revokes license of oil-spill vessel owner
The RDC Reield Marine Services, Inc. or RDC — owner and operator of the MT Princess Empress tanker that sank and caused a massive oil spill in Oriental Mindoro and nearby areas — is no longer allowed to engage in domestic shipping. This was after the Maritime Industry Authority-National Capital Region revoked the company’s Certificate of Public Convenience, or CPC last 11 May. In a press statement on Thursday, MARINA disclosed that RDC was found to have operated Princess Empress without authority. MARINA said it is also continuing its investigation into Orient Registry Shipping Incorporated, Navis Engineering and Marine Services, and Reyeld Townsite Shipyard Corp. An initial probe into these companies showed that they were non-compliant with approved standards and pertinent MARINA circulars. A CPC is an authorization issued by the MARINA for the operation of a domestic water transportation service for public use for which no franchise, either municipal or legislative, is required by law. Separately, the Department of Transportation said it will also investigate the possible culpability of personnel from the relevant maritime authorities in the sinking of the Princess Empress. “We have had sinkings before but no one has been held to account. This time all parties, whether private or public, will be held accountable. There will be no exception,” Transportation Secretary Jaime J. Bautista said. “Our policy is zero tolerance to shortcuts, official negligence and disregard of rules. The rule of law, good governance and best practices must prevail throughout the department and its agencies,” he added. Despite not being authorized to operate, the Princess Empress vessel managed to sail at least 17 times before it sank on 28 February. It carried about 800,000 liters of industrial fuel that polluted the ocean. The mishap did not only affect the fishing community but also the tourism industry in Oriental Mindoro as many beaches and resorts were forced to close. According to a recent report of the national task force on the incident, the country’s tourism sector is likely to lose P886 million in revenues within the next six months as 55 tourism enterprises in three regions were adversely affected. Last week, the Presidential Communications Office reported that 62 kilometers of the 74 kilometers, or 84 percent of the oil spill-affected coastline had been cleaned. The PCO also said the Marcos administration already provided more than P516 million worth of early recovery assistance to close to a hundred thousand affected residents. The post MARINA revokes license of oil-spill vessel owner appeared first on Daily Tribune......»»
Big businesses sacrifice to prop up economy during pandemic
The country’s top corporations have shown that they have been walking the talk even before signing the Covenant for Shared Prosperity wherein they have sacrificed profitability in order to take care of their stakeholders and ensure sustainability. SM Prime Holdings Inc. Chairman Hans T. Sy said that, during this pandemic, “We were the first to announce to continue all the salaries even when we were all down. So these are all sacrificing profits. Why do we do that? …We are all looking into long term. Investment is not only just for the short term basis, it is really for the long term we’re in here.” SM Prime Holdings Inc. Chairman Hans T. Sy (left) and Ayala Corporation Chairman Jaime Augusto Zobel de Ayala. Ayala Corporation Chairman Jaime Augusto Zobel de Ayala agreed with Sy, noting that most businesses, “in one way or another has suffered a great deal of pain and, in many ways, to preserve the ecosystem, to retain their employees, the people that support them.” “I have 1001 examples that I’ve seen during this crisis of everybody sacrificing a great deal,” he noted. Sy and Zobel were keynote speakers during the launching of the Philippine Business Community’s Covenant for Shared Prosperity organized by the Management Association of the Philippines. “As we struggle with the COVID pandemic, we also need to address the critical longer-term global issue of inequality which has worsened because of the current health crisis. Many businesses have closed, millions have lost jobs and many are going hungry,” said MAP President Francis Lim. He noted that, “When the crisis is over, we at MAP would like to see a new ‘normal’ in the way we deal with our stakeholders — our employees, customers, product/service/fund providers, the communities we serve (especially the bottom of the pyramid), the environment and our shareholders (both majority and non-controlling shareholders).” Lim explained that, “The Covenant… is envisioned to be the private sector’s response to the stakeholder theory now enshrined under the Revised Corporation Code.” Securities and Exchange Commission Chairman Emilio Aquino explained that the stakeholder theory is a major shift in focus of businesses which used to be focused only in the interests of its stockholders. Aquino said that, now, publicly-listed companies “are mandated to report on their economic, environmental and social impacts which further strengthened the Stakeholder Theory. At this point, we have seen a drastic paradigm shift in the way corporations do business and create shareholder value. Profit, while essential in the survival of the corporation, is not anymore the sole focus of corporate ventures.” “Maybe it had to take a beast like COVID-19 for all of us to understand that we all have to support each other as communities and institutions if we are to rebuild successfully,” said Zobel. He added that, “Now, more than ever, we have to find ways to expand our traditional definition of who we are responsible for and accountable to – well beyond our shareholders and other providers of capital; well beyond the sole pursuit of profit.”.....»»
Duterte gives LGUs 3 days to process telco permits
President Duterte has ordered the Department of the Interior and Local Government to hold accountable local government units that fail to process in three days pending applications of telecommunications companies to build cell sites or towers......»»
PNVF forms coaching sataff for world meet
Seasoned coach Dante Alinsunurin will make a comeback as one of the deputies for the national men’s team as host Philippines pulls out all the stops to parade a competitive squad against the best of the best in the FIVB Volleyball Men’s World Championships 2025......»»
LTO: Paper-printed driver’s license ilisan na og plastic card
LTO: Paper-printed driver’s license ilisan na og plastic card.....»»
Xdinary Heroes make ‘extraordinary’ concert in Manila
Members of the South Korean rock band Xdinary Heroes showed that they were no ordinary musicians during their first world tour, “Break The Brake” last March 23 at the New Frontier Theater......»»
EDITORIAL - Finally, plastic license cards
It says a lot about the quality of governance and ease of doing business in this country that it takes forever just to obtain a plastic driver’s license card......»»
DOTr: 2.2 million more plastic cards to be delivered
Transportation Secretary Jaime Bautista inspected yesterday the one million delivered plastic cards to be used for the printing of driver’s licenses, at the Land Transportation Office central office in Quezon City......»»