Shell Pilipinas Corporation, a local unit of oil giant Royal Dutch Shell, is seeking more integrated carbon and development opportunities in the country to complement its sustainability thrust.
The company announced on Thursday that it recently signed a Memorandum of Understanding with the Department of Environment and Natural Resources to kick off a joint identification and development of Nature-Based Solutions or NBS.
The deal was signed by Shell Pilipinas President and CEO Lorelie Quiambao-Osial and Environment Secretary Maria Antonio Yulo-Loyzaga.
It aims to document processes and activities that they can use as a reference to develop programs, policies, and regulations related to NBS carbon projects.
NBS includes activities related to the protection and enhancement of natural ecosystems, such as forests, grasslands, wetlands, and coastal zones.
These types of solutions help improve agricultural sustainability to help absorb or prevent the release of greenhouse gases, while also benefiting local communities and enhancing the biodiversity of the area.
According to Osial, the partnership demonstrates a “significant moment where different sectors are coming together to make a positive difference.”
Meanwhile, Secretary Loyzaga pointed out that the partnership will help the government achieve its climate and disaster-resiliency targets.
Shell’s target of becoming a net-zero emission business by 2050 tops off the National Greening Program under Executive Order No. 193 for climate change mitigation and adaptation.
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