BUSINESS

DENR, DoE ink MoU with conglomerates to protect VIP

Three of the country’s biggest firms — SMC, MPIC, AEV — have joined hands with the Departments of Energy and Natural Resources in a historic initiative to protect and preserve Verde Island Passage

Maria Bernadette Romero · May 8, 2024, 12:20 AM

Historic Private-Public Partnership The Department of Environment and Natural Resources and the Department of Energy has signed an MoU with three of the country’s biggest conglomerates, namely San Miguel Corporation, Aboitiz Equity Ventures, and Metro Pacific Investment Corporation aimed at protecting and preserving the Verde Island Passage. Photo shows (from left) MPIC chairman and president Manuel V. Pangilinan; DoE Secretary Raphael Lotilla; DENR Secretary Ma. Antonio Y. Loyzaga; SMC president and CEO Ramon S. Ang; and AEV president and CEO Sabin M. Aboitiz. — Photograph by Maria Romero for the Daily Tribune

The Departments of Environment and Natural Resources (DENR) and Energy (DoE) have joined forces with the country’s three leading conglomerates in a groundbreaking move to protect and preserve the Verde Island Passage (VIP).

The government agencies, along with Aboitiz Equity Ventures (AEV), Metro Pacific Investments Corp. (MPIC), and San Miguel Corp. (SMC) signed a memorandum of understanding (MoU) on Tuesday to ramp up environmental and community development efforts for the VIP.

“As a framework for joint stewardship and sustainable development, this historic initiative not only underscores the collective commitment to environmental preservation,” DENR Secretary Maria Antonia Yulo Loyzaga said.

New era

For Loyzaga, the tie-up also “heralds a new era” of public-private partnership.

The VIP is a strait that spans across Batangas, Marinduque, Romblon, Oriental Mindoro and Occidental Mindoro.

It covers an area of 1.4 million hectares and is home to over 1,700 fish species and 300 coral species, forming a biodiversity zone that marine experts cite as the “center of the center of marine shore fish biodiversity.”

Promoting sustainable VIP access

The MoU aims to promote the conservation, protection and enhancement of biodiversity and coastal marine resources of the VIP.

Its objectives include supporting a clean energy transition towards sustainable and resilient low-carbon development and establishing Marine Science Research Stations in the VIP to advance science, policy, and practices needed by the industry.

Likewise, it also commits to the responsible stewardship and sustainable access and use of the VIP’s coastal and marine resources, and creating stakeholder platforms to ensure the welfare of surrounding communities.

“The responsible stewardship and sustainable access and use of the Verde Island Passage aims to facilitate access to affordable energy, ensure a reliable and resilient energy supply, and transition to clean, sustainable, and climate-centered energy resources,” Energy Secretary Raphael Perpetuo Lotilla said.

Aboitiz Power Corp. (AP), the Aboitiz Group’s power generation arm, has been actively expanding its clean energy initiatives and renewable energy (RE) power plants.

Currently, AP has over 1,000 megawatts (MW) of ongoing clean energy projects, with full operations targeted within the next three years.

“It has always been our goal to help safeguard our environment and uplift the welfare of the communities, in this case, the people who are dependent on the Verde Island Passage for their livelihood,” Aboitiz Equity Ventures president and CEO Sabin M. Aboitiz said.