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For banks that backed PH coal boom, the path to renewable energy comes with roadblocks

For banks that backed PH coal boom, the path to renewable energy comes with roadblocks
pcij.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pcij.org Daily Mail and Mail on Sunday newspapers.

France General , United States , Philippine Islands , Philippines General , Davao City , Republic Of , Ramon Ang , Department Of Energy , District Of Columbia , San Carlos , Negros Occidental , World Bank , Sagay City , Lyn Javier , Eian Rivera , Bangko Sentral , Khevin Yu , Gerry Arances , World Bank Group , Ayala Corp , San Miguel Corp , Aboitiz Power Corp , Philippine Movement For Climate Justice , Banker Association Of The Philippines , International Finance Corp , Rizal Commercial Banking Corp ,

For banks that backed PH coal boom, the path to renewable energy comes with roadblocks

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 ....

France General , United States , Philippine Islands , Philippines General , Davao City , Republic Of , Ramon Ang , Department Of Energy , District Of Columbia , San Carlos , Negros Occidental , World Bank , Sagay City , Lyn Javier , Eian Rivera , Bangko Sentral , Khevin Yu , Gerry Arances , World Bank Group , Ayala Corp , San Miguel Corp , Aboitiz Power Corp , Philippine Movement For Climate Justice , Banker Association Of The Philippines , International Finance Corp , Rizal Commercial Banking Corp ,

Local investors prop up equities, fixed-income markets in 1st qtr

Local investors prop up equities, fixed-income markets in 1st qtr
sunstar.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sunstar.com.ph Daily Mail and Mail on Sunday newspapers.

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SEIPI asks lawmakers to reconsider FIRB cap

BusinessWorld
January 12, 2021 | 12:32 am
By
Reporter
AN ELECTRONICS exporters industry group is asking lawmakers to reconsider the potential cap on investments reviewed by investment promotions agencies (IPA).
Under Senate Bill 1357 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, IPAs like the Philippine Economic Zone Authority will review investment projects valued at P1 billion or lower, while the Fiscal Incentives Review Board (FIRB) approves larger projects.
Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) President Danilo C. Lachica said that the industry group is hoping for a higher threshold for quicker approval processes under the IPAs.
“We will send our inputs to the House of Representatives. Many investments are over the P1-billion cap. Majority will be at or below P5 billion,” he said in a mobile message on Monday. ....

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PSE extends disbursement of proceeds from stock rights offer

December 18, 2020 | 12:01 am
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BLOOMBERG/VEEJAY VILLAFRANCA
THE Philippine Stock Exchange (PSE) has extended the timeline for the use of the proceeds for its stock rights offer (SRO) to Dec. 31, 2023, the local bourse said on Thursday.
In a regulatory filing, the PSE said that it had so far disbursed 1,101.14 shares from its planned amount of 2,825.88.
It detailed that its net proceeds were meant to be used for acquisition of the Philippine Dealing System (PDS), product development and working capital requirements at 1,580 shares, 360 shares and 885.88 shares, respectively.
“This directive is being issued primarily for the purpose of ensuring the timely disclosure of information relating to PSE as a listed company and should not be construed as an approval by the (Securities and Exchange) Commission,” the PSE disclosed. ....

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