The Ayala-led Bank of the Philippine Islands’ asset management arm, BPI Wealth has launched the second season of its BPI Wealth Signature Yacht Series. Consisting of four races, the BPI Corregidor Cup, Busuanga Cup, Boracay 200 and Subic Regatta, the season will run 14 November to 20 March next year.
The announcement of the new yacht races followed the competition’s first season launched in November last year with 23 yachts participating and the World Wide Fund (WWF) conducting educational activities oriented towards marine resource protection for the race’s participants.
A movement, more than just a competition
“More than a competition, we have created a movement to grow the sailing community, support marine conservation and promote the Philippines as a premier sailing destination in Asia,” BPI Wealth president and chief executive officer Maria Theresa Marcial said.
“We are discussing ways to expand projects with WWF but right now we’re focused on advocacy and information campaigns on marine conservation,” she added.
Aside from the race, BPI has organized an auction for photographs taken in the race’s first season by renowned journalists and photographers and passionate marine conservationists. Proceeds from the auction will be donated to marine conservation efforts.
BPI will be running the new yacht races in coordination with the Ocean Racing Club of the Philippines, the Philippine Inter-Island Sailing Foundation and the Subic Sailing Club.
Investing for nature
Marcial also shared that BPI is completing details on allocating a portion of investments from retail clients to marine conservation as the bank aggressively promotes easier access to investing or wealth-building for middle-income earners.
“This is to set aside a portion of the fund to be contributed to organizations that will implement marine conservation initiatives,” she said.
“It’s more allocating a portion of the fund not so much to invest in instruments that focus on sustainability because the sustainability universe in the Philippines is not as broad,” Marcial continued.
BPI is targeting to launch the investment fund in June next year in celebration of World Ocean Month.
App-based investment fund
Marcial said BPI Wealth expects some funds to be set aside for marine conservation from individual investors through its affordable, app-based investment fund with a minimum capital of P1,000 from P10,000.
The Department of Environment and Natural Resources Secretary Maria Antonia Yulo-Loyzaga has reported that Philippine seas are being polluted by over 61,000 million metric tons of plastic waste which accounts for 24 percent of all trash in the country.
From landfills, she said 35 percent of plastics go to the oceans which are often ingested by or strangling marine creatures, leading to their deaths, ultimately leading to a reduction in marine biodiversity and overall, causing environmental imbalance.
