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The mangrove farm and mini-forest is one of the major corporate social
responsibility programs of Panay Energy Development Corp. (PEDC),
according to businessman Felipe A. Uygongco.
PEDC is a subsidiary of Metrobank Group’s energy arm Global Business Power Corp. (GBPC).
GBPC is constructing a coal-fired power plant beside its existing diesel-fired power plant at Brgy. Ingore, LaPaz, Iloilo City. PEDC will operate the plant when it officially goes on line in the last quarter of 2010.
Uygongco, a member of PEDC’s board of directors, bared the mangrove farm and mini forest project during the signing of the memorandum of agreement (MOA) on the multi-partite monitoring team (MMT), environmental guarantee fund (EGF) and environmental monitoring fund (EMF) for the new power plant.
The MOA signing was held at the function room of El Dorado resort in Smallville complex, Mandurriao district.
Uygongco said PEDC is committed to go beyond the requirements stipulated in the environmental compliance certificate (ECC) issued by the Department of Environment and Natural Resources (DENR) to the coal-fired power plant.
“The company vows to exceed expectations in terms of environmental protection. Daily regulatory monitoring requirements, Maasin watershed reforestation, mangrove and mini-forest educational eco-tourism projects are among the flagship programs of the company,” he added.
Engr. Adrian N. Moncada, GBPC assistant vice president, said the watershed reforestation and mangrove/mini-forest projects will serve as carbon sink of the coal-fired power plant.
Carbon sink refers to natural or manmade reservoir that accumulates and stores some carbon-containing chemical compound for an indefinite period.
Moncada said the mangrove and mini-forest will complement the plant’s emission mitigating measures, such as the circulating fluidized bed technology.
“Apart from absorbing carbon, the mangrove farm and mini-forest will also serve as eco-tourism parks for visitors. It is also part of our contribution to development tourism in the city,” Moncada said.
Moncada said GBPC is closely working with the DENR and Department of Tourism in putting up the eco-tourism park.
Meanwhile, GBPC-PEDC pledged to set aside P3.8 million for the environmental protection component of the coal-plant’s operation.
Uygongco said PEDC will also provide P3 million for the environmental guarantee fund (EGF) which will be used in emergency cases that may arise during the plant’s operation. It can also used to fund community-based environment related projects including information and education and emergency preparedness programs.
Uygongco said the EGF is composed P500,000 cash while the remaining P2.5 million is in the form of a trust fund deposited in a local bank.
The environmental monitoring fund (EMF), which will be used for the competency training, monitoring and meetings of the MMT, will amount to P800,000 in PEDC’s annual budget.
The MMT is composed of representatives from the DENR-Environmental Management Bureau, Iloilo City government, the host barangay, environmental groups, academe and religious sector.
DENR regional executive director Julian Amador said the MMT is a vital component of development projects to ensure transparency and environmental protection.
Amador said the MMT also highlights public participation in balancing progress and the environment.
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