Conglomerates tapped to preserve Verde Island

MANILA, Philippines — The government has tapped three of the country’s biggest conglomerates to protect the Verde Island Passage (VIP), a critical waterway and internationally recognized biodiversity area in the country.

The Department of Environment and Natural Resources (DENR) and the Department of Energy (DOE) signed a first-of-its-kind memorandum of understanding (MOU) with Aboitiz Equity Ventures (AEV), Metro Pacific Investments Corp. (MPIC) and San Miguel Corp. (SMC) on May 7.

“As a framework for joint stewardship and sustainable development, this historic initiative not only underscores the collective commitment to environmental preservation but also heralds a new era of public-private collaboration aimed at ensuring the longevity of one of the world’s most bio diverse marine ecosystems,” DENR Secretary Maria Antonia Yulo-Loyzaga said.

The VIP is a strait that spans the provinces of Batangas, Marinduque, Romblon, Oriental Mindoro and Occidental Mindoro and separates Mindoro island from Luzon.

The strait’s 1.4 million hectares is home to over 1,700 fish species and 300 coral species, forming a biodiversity zone that marine experts cited as the “center of the center of marine shore fish biodiversity.”

In 2023, the VIP was named a ‘Hope Spot’ by the international marine conservation non-profit organization, Mission Blue, which states that the strait is globally recognized to be critical to the health of the ocean.

As one of the country’s busiest shipping corridors, the VIP serves as an important route for international ports and various oil and gas facilities. The strait is also host to a significant fishing industry, providing the backbone for the livelihoods of millions of people.

The agreement, which is valid for five years with possible extension, details how the DENR and DOE will partner with AEV, SMC and MPIC to collaborate with local governments, non-government organizations, international development groups, experts, and coastal communities, among others, and commit to supporting projects that promote the conservation, protection and enhancement of biodiversity and coastal marine resources of the VIP.

“We must make sure that – in our quest to provide clean, reliable, and affordable energy to our people – we also pay attention to safeguarding the environment and the communities we serve,” MPIC president and CEO Manuel V. Pangilinan said.

The MOU requires the parties to “establish a marine science biological research station with facilities” in VIP, as well as a partnership with higher educational institutions namely the UP Systems, De La Salle University and the California Academy of Sciences.

“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. Its preservation is of paramount interest and once again the Aboitiz Group, MVP Group and San Miguel Group are working together to do our part,” AEV president and CEO Sabin Aboitiz said.

“We are grateful for this opportunity to join forces with the Aboitiz Group, MVP Group and various stakeholders in protecting the Verde Island Passage,” SMC chairman and CEO Ramon Ang said.

Last March, Aboitiz Power, MPIC’s Meralco Powergen Corp. and SMC’s San Miguel Global Power Holdings Corp. collaborated to invest in the country’s first and most expansive integrated liquefied natural gas facility in Batangas. — Romina Cabrera