Contecon Guayaquil S.A. (CGSA), the Ecuadorian subsidiary of International Container Terminal Services Inc. (ICTSI), recently obtained the ISO 14064-3:2006 international certification for carbon neutrality, after a rigorous verification and audit process carried out by TÜV Rheinland. Photo shows Contecon Guayaquil SA, ICTSI’s terminal in Guayas, Ecuador.

The certification, which marks CGSA’s compliance to ISO 14064 standards, lauds the company’s policies that are directed and translated towards greater sustainability initiatives, as well as the incorporation of technologies that reduce the operation’s impact on Ecuador’s largest and premier maritime gateway.

TÜV Rheinland certified that CGSA compensated for 32,762 tons of carbon dioxide from 1 January to 31 December 2017, based on the 2016 Emissions Inventory corresponding to the Annual Carbon Capture Report of the Bosquez del Area Ecologica de Concervacion Conservación Municipal Tinajillas — Rio Gualaceno y areas de manglar de Cerrito de los Morreños,” thus demonstrating the company’s faithful commitment to the environment.

“This international certification reflects our effort to establish policies that guarantee sustainable action in favor of the environment through sustainable practices that counteract any polluting emission from the port terminal,” said Jose Antonio Contreras, CGSA Chief Executive Officer.

As part of the audit, an analysis was conducted to check the terminal’s carbon data and emissions. Finally, it was verified that CGSA has and continues to sponsor the protection and conservation of the country’s large tracts of intact natural forests.

Bank of China Manila continues to open doorways for Philippine financial institutions wanting to tap China’s fast-growing economy. Through its Bond Connect scheme, the bank is giving local participants the opportunity to invest in the world’s third largest bond market, which exceeded RMB 90 trillion in outstanding bond volumes in August this year.

Bond Connect is a new mutual market access scheme that allows investors from mainland China and overseas to trade with each other through a connection between the mainland and Hong Kong financial infrastructure institutions. Since July 2017, overseas investors from Hong Kong and other regions were able to invest in the China Interbank Bond Market (CIBM).

According to Deng Jun, country head of Bank of China Manila, the internationalization of renminbi (RMB) is creating a natural demand for RMB investments. “As China opens its market to the world, investors are gaining a deeper understanding of the investment opportunities in the country. This is driving global interest in RMB-denominated assets,” he said in a statement.

As the latest cross-border bond trading and settlement scheme linking the Mainland China and the Hong Kong, Bond Connect has been playing an increasingly important role in enhancing two-way market access, as well as opening up the Chinese bond market. And the Chinese government has taken a series of measures to improve on the relevant mechanisms and infrastructures under the scheme, including broadening Bond Connect market maker group, enriching transaction mechanism and increasing forex hedging options.

Additionally, China announced a 3-year tax exemption for offshore investors to invest in the CIBM, which has made Chinese bonds more attractive to offshore investors.

At the recent RMB Internationalization and ASEAN Local Settlements Forum in Nanning City, China, Chuchi Fonacier, deputy governor of the Bangko Sentral ng Pilpinas, acknowledged the broader role of RMB in international trade and financial markets. “We also recognize that the RMB can also be a source of financing for financial institutions. The Bank of China, Manila Branch introduced the Panda market to our Bureau of Treasury in the Philippines.

McDonald’s partners with Mandaluyong City

Photo shows McDonald’s, City of Mandaluyong inks MoA Mandaluyong City PESO (from left) manager Emma Javier,chief SGOD OIC Rex Ado, Mandaluyong City Mayor Hon. Carmelita Abalos, McDonald’s Philippines SVP for Human Capital Group Chona Torre, Office of the Schools Division Superintendent OIC Dr. Romela Cruz.

Quick service giant, Golden Arches Development Corp. (McDonald’s Philippines) has strengthened its commitment to support the learning and growth of senior high school students through the Work Immersion Program (WIP). The partnership was made official with a memorandum of agreement signing ceremony with Mayor Carmelita Abalos and with the Department of Education (DepEd) through the Schools Division Office of Mandaluyong. Close to 250 students from six partner schools in the city will be trained across 12 McDonald’s restaurants throughout the program. WIP aims to help senior high school students learn and develop values, new knowledge and basic competency skills they’ll need as they prepare for employment and progress in their career.

Seen in photo (from left) IABC Chairman Joe Zaldarriaga, IABC President Belle Tiongco, Hon. Francisco Domogoso, and IABC Adviser Ritzi Villarico-Ronquillo. IABC Philippines Promotes Truth, Trust and the Public Servant in year-end GMM. During the recently concluded 2019 Year-End General Membership Meeting of the International Association of Business Communicators (IABC) Philippines, held at the Palm Grove, Rockwell Club, the organization welcomed Manila Mayor Francisco “Isko Moreno” Domagoso to discuss the topic of “Trust and the Public Servant.”

IABC Philippines is the first country chapter outside of North America, since 1983. Advocating for professional growth, learning and communications excellence, IABC Philippines supports the highest professional standards and practice of exceptional quality and innovation in organization and business communication.

CALAPAN CITY, Oriental Mindoro — As part of the agency’s efforts to improve the power situation in Mindoro and Lubang Island, the Department of Energy (DoE) held the first Power Summit for Mindoro Islands on 4 November at the Hotel Filipiniana.

“Today’s gathering aims to uphold what is best for our province and the Mindoreños. What runs deep among all of us here today is our desire for Mindoro’s progress. Crucial to this is having sufficient, reliable, and affordable electricity for all,” Energy Secretary Alfonso Cusi stressed in his opening message. The Energy chief called for the Summit to provide concerned stakeholders with an avenue for objective, constructive, and unhindered dialogue on enhancing the condition of electricity services throughout the province.

For years, Mindoro has been plagued by various power issues. These include frequent power interruptions due to reliance on outdated power facilities, which had been further damaged by typhoons “Nona” in 2015 and “Nina” in 2016; heavily subsidized generation rates stemming from strong dependence on diesel and bunker fuel; delays in proposed energy projects; uneven electrification rates across provinces; and administrative issues of electric cooperatives serving the area.

In response to these challenges, the energy family has undertaken several remedial measures to date, such as the Performance Assessment of the Oriental Mindoro Electric Cooperative Inc. in 2017; administrative interventions, which paved the way for managerial reforms in ORMECO; upgrading National Power Corp.’s 69 kilovolt transmission lines; studies on power system protection coordination; support for the development of new mini-hydro projects in the province; continued funding for electrification projects; and the DoE’s proposed major strategic planning study on an Integrated Power Development Master Plan for the entire island.