LBP, DENR join forces vs pollution

The joint efforts of the Land Bank of the Philippines (LBP) and the Department of Environment and Natural Resources (DENR) have contributed to the phase-out of 835.7 metric tons of ozone depleting potential (ODP). According to LBP president and chief executive officer Gary B. Teves, this was achieve through the first stage of the Philippine ozone depleting substances (ODS) Phase-Out Investment project.

The joint project identified and financed investment projects which assisted specific industry sectors to convert to non-ODS technologies thru counterpart grant financing.

The investment projects covered various industry sectors that were previously using chlorofluorocarbons (CFCs), generally referred to as ODS.

These industry sectors include foam, solvents, tobacco expansion and refrigeration sectors. Of these sectors, 352 mt or 42-percent OPD was phased out from the foam sector while 350 mt or 41.8-percent ODP was removed from the tobacco expansion sector.

The project was initiated to comply with the obligations of the Philippines under the Montreal Protocol to phase-out the use of ODS. It is funded by the multilateral fund of the Montreal Protocol through the World Bank.

Phase I of the project will culminate by December 2001. Meanwhile, DENR is formulating phase 2 which shall focus mainly on SMEs and other residual users of ODS.