Saturday , May 28 2022
Withdraw from Coal

WFC sa next admin PH banks na nagpopondo sa ‘dirty energy’ sawatain

ILANG araw bago ang gaganaping local at national elections, hinimok ng  energy advocacy at bank watchdog group na Withdraw from Coal (WFC) ang sinomang susunod na administrasyon na sawatahin ang mga banko na patuloy na nagpopondo o namumuhunan para sa ‘dirty energy’ o ‘coal’ para sa enerhiya.

Mula noong 2020, ang WFC ay naglalabas ng kanilang  annual Coal Divestment Scorecard upang alamin ang ‘financing activities’ ng mga ‘domestic banks,’ sukatin ang kanilang kasalukuyang ‘divestment efforts’ sa industriya ng coal o uling, at  suriin ang kanilang  ‘climate action policies.’

Sa report, may limang banko umano ang sangkot  sa bond issuance ng  AboitizPower, ang ikalawang largest coal developer sa bansa, bagamat inianunsiyo na ang mga planong higpitan at i-phase down ang kanilang ‘coal exposures.’

“We need to fix this disconnect between domestic banks’ no-coal stance with the reality of their financing activities. The findings of the report show us that banks managed to dodge being direct coal financiers by underwriting or selling bonds issued by coal developers. Banks cannot trick us into believing that they are truly divesting from coal unless they close this loophole of funneling funds through bonds,” ayon kay Gerry Arances, Executive Director ng Center for Energy, Ecology, and Development at co-convenor ng  WFC.

“We will sustain our action to demand drastic ecological economic transformation of financial institutions. Investing more in sustainability where no one is left behind is the right way forward. We enjoin everyone to continuously pressure our banks to divest from dirty products and services. It is not only a duty as citizens of this planet but a moral responsibility,” ayon kay Rodne Galicha, Executive Director ng Living Laudato Si’ Philippines.

Aniya, nakaaalarma rin ang pagtaas ng domestic banks na namumuhunan sa ibang fossil fuel sa anyo ng  fossil gas na tinawag na |Philippines new preferred fuel and peddled as a cleaner alternative to coal.”

Nabatid, umaabot sa 27 power plant projects at 9 liquefied natural gas (LNG) terminal projects ang nasa pipeline, kabilang ang LNG Import Facility sa Ilijan, Batangas, sa pamamagitan ng  Linseed Field Power Corporation.

“We call for banks to totally divest from coal and cease to invest in the equally climate-destructive energy source that is fossil gas. Opening up the country to gas projects is at odds with our climate targets. Allowing gas terminals into the country, including in biodiversity hotspots like our very own Tanon Strait or Verde Island Passage in Batangas, exposes us to decades of methane emissions and can cost us all remaining hope in the fight to meet Paris goals,” dagdag ni San Carlos Bishop Gerry Alminaza,  convenor ng WFC.

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