For banks that backed PH coal boom, the path to renewable energy comes with roadblocks Banks in Asia and the Philippines are moving at a snail’s pace in defunding coal. At least 10 Philippine banks gave $841 million in loans and participated in $1.3 billion worth of underwriting activities involving at least five coal companies since the 2015 Paris climate agreement. BY KAROL ILAGAN June 29, 2021 | 07:00:00 AM
In 2017, a network of more than 100 organizations filed a landmark climate complaint against the International Finance Corp. (IFC), the private sector arm of the World Bank.
The Philippine Movement for Climate Justice (PMCJ) accused the IFC of contributing to the climate crisis as it had funded 19 coal power plants across the Philippines through a local bank, the Rizal Commercial Banking Corp. (RCBC), the ninth largest bank in the country in terms of assets.
7M hectares of Philippine land are forested and that’s bad news The country has been vulnerable to massive flooding linked to deforestation. The coronavirus pandemic is also a catastrophe that arose from populations occupying wild animal habitats. BY KAROL ILAGAN May 12, 2021 | 02:04:00 PM
Key findings:
Forest loss persists in the Philippines even with a log ban and protection laws in place.
Forest cover has remained the same since the first Aquino administration as losses in some parts of the country have eclipsed gains in others.
The Mimaropa region – covering Mindoro, Marinduque, Romblon and Palawan – has seen the worst deforestation in recent years.
7M hectares of Philippine land is forested and that’s bad news The country has been vulnerable to massive flooding linked to deforestation. The coronavirus pandemic is also a catastrophe that arose from populations occupying wild animal habitats. BY KAROL ILAGAN May 12, 2021 | 02:04:00 PM
Key findings:
Forest loss persists in the Philippines even with a log ban and protection laws in place.
Forest cover has remained the same since the first Aquino administration as losses in some parts of the country have eclipsed gains in others.
The Mimaropa region – covering Mindoro, Marinduque, Romblon and Palawan – has seen the worst deforestation in recent years.
7M hectares of Philippine land are forested and that’s bad news The country has been vulnerable to massive flooding linked to deforestation. The coronavirus pandemic is also a catastrophe that arose from populations occupying wild animal habitats. BY KAROL ILAGAN May 12, 2021 | 02:04:00 PM
Key findings:
Forest loss persists in the Philippines even with a log ban and protection laws in place.
Forest cover has remained the same since the first Aquino administration as losses in some parts of the country have eclipsed gains in others.
The Mimaropa region – covering Mindoro, Marinduque, Romblon and Palawan – has seen the worst deforestation in recent years.
Philippines Groups: Policies anchored on climate justice protection key to restoring Earth pressenza.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressenza.com Daily Mail and Mail on Sunday newspapers.