India’s solar output grows at slowest pace in six years in first half of 2024

July 4, 2024 | 1:39 pm

SINGAPORE – India’s solar power generation grew at the slowest pace in six years in the first half of 2024, an analysis of data from the federal grid regulator showed, as the country further stepped up reliance on coal to address surging power demand.

Electricity generated from coal grew 10.4% during six months ended June 30, a review of daily load dispatch data from Grid-India showed, outpacing overall power generation growth of 9.7% during the period.

Solar power generation in the third-largest producer of electricity from the sun rose to 63.6 billion kilowatt-hours (kWh) in the first half of 2024, the data showed, up 14.7% compared with the same period last year and 18.5% in the calendar year 2023.

The world’s fastest growing major economy has prioritized coal to address a surge in power demand in recent years, with coal-fired power output last year outpacing renewable energy output for the first time since the Paris accord in 2015.

The south Asian nation’s fuel use patterns since emerging from the COVID-19 pandemic have largely been in line with trends in the region, with Indonesia, Philippines, Vietnam and Bangladesh all firing up coal for generating inexpensive power.

The share of the fossil fuel in power output rose to 77.1% in the first half of 2024, compared with 76.6% in the same period last year, putting it on track to rise for the fourth straight year.

India expects total electricity generation during the fiscal year ended March 2025 to grow at the fastest pace in over a decade, forecast to be mainly powered by an 8.9% growth in coal-fired power output, outpacing renewable energy growth of 8.2%.

Analysts expect renewable generation to grow faster from the next fiscal year, as tendering and commissioning of green energy projects have started picking up steam.

Moody’s unit ICRA expects renewable energy installations to rise by over a third to 25 gigawatts (GW) this fiscal year ending March 2025. – Reuters

Democratic governors vow to stand with Biden after shaky debate performance

July 4, 2024 | 1:33 pm

WASHINGTON – The Democratic governors of New York, Minnesota and Maryland on Wednesday said they would support President Joe Biden’s reelection bid after a candid discussion with him about his weak performance in last week’s debate.

“The president has always had our backs. We’re going to have his back as well,” Maryland Governor Wes Moore told reporters after a meeting with Mr. Biden and Vice President Kamala Harris at the White House that included 24 Democratic governors and the mayor of Washington, D.C., some joining online.

Moore said the governors were frank in relaying negative feedback from constituents about Mr. Biden’s poor performance during the debate with Republican rival Donald Trump. He said there was clearly work to do before the Nov. 5 election, but Biden had made it clear he would stay in the race.

“The president … he’s our nominee. The president is our party leader,” Mr. Moore said. There has been growing talk among Democrats in recent days that 81-year-old Biden should drop out of the race.

New York Governor Kathy Hochul said she felt confident after the meeting and all the governors pledged their support to Mr. Biden. The president is “in it to win it,” she said.

Minnesota Governor Tim Walz, the chair of the Democratic Governors Association, said Biden’s debate performance on Thursday was bad but he felt Mr. Biden was fit for office.

“Obviously we, like many Americans, are a little worried. We’re worried because the threat of a Trump presidency is not theoretical,” Mr. Walz said, adding that the previous Trump presidency was marked by “chaos, destruction.”

Nearly a dozen of the state leaders attended the meeting in person, but only three spoke with reporters afterwards.

California Governor Gavin Newsom, who participated in person, posted his reaction on social platform X: “I heard three words from the President tonight — he’s all in. And so am I.”

Mr. Biden’s campaign said the president reiterated his determination “to defeat the existential threat of Donald Trump at the ballot box in November” and discussed the importance of electing Democrats up and down the ballot.

“All participants reiterated their shared commitment to do everything possible to make sure President Biden and Vice President Harris beat Donald Trump in November,” it said. – Reuters

Philippines president orders de-escalation in South China Sea, military chief says

July 4, 2024 | 1:23 pm

Story 5 optimee-marcosjpeg_2022-12-03_10-56-57 [Bibo Nueva España _ Senate PRIB] — IMELDA “IMEE” R. MARCOS — SENATE PRIB

MANILA – Philippines President Ferdinand Marcos Jr has instructed the armed forces to de-escalate tensions in the South China Sea, Manila’s military chief said on Thursday, in line with recent consultations held between Chinese and Filipino officials.

General Romeo Brawner told reporters that the military presented the president with several options on its operations in the South China Sea, including routine resupply missions to troops in a disputed shoal that have raised tensions with Beijing.

The Philippines and China, longstanding rivals in the strategic waterway, agreed on Tuesday for the need to “restore trust” and “rebuild confidence” following a high-level meeting.

The Philippines’ armed forces will also coordinate with a senator who claimed to have knowledge of a Chinese plan to target her country with hypersonic missiles, Mr. Brawner said.

Senator Imee Marcos, the president’s sister and head of the senate foreign relations committee, created a stir earlier this week with her video, posted on Tik Tok. She has provided no evidence for the claim. – Reuters

Asia Responsible Enterprise Awards 2024 spearheading sustainable development in Asia by recognizing 81 ESG champions

July 4, 2024 | 10:00 am

The Asia Responsible Enterprise Awards (AREA) 2024 celebrated a cohort of 81 exemplary ESG champions dedicated to shaping a sustainable future for the region and beyond, setting new benchmarks for corporate responsibility. Presented by regional NGO Enterprise Asia, the AREA is widely regarded as the gold standard for ESG and sustainability practices across Asia.

Beholding over 5,000 ESG programs for more than a decade, the AREA serves as a platform to showcase and provide well-deserved recognition to businesses and organizations championing sustainability, ultimately inspiring more enterprises to integrate sustainable business practices into their business strategies. Over 1 million individuals’ lives throughout Asia have been touched by the award-winning initiatives of this year’s ESG champions.

Richard Tsang, President of Enterprise Asia, stated in his welcome speech, “The interconnected challenges of climate change and social inequity underscore the urgent need for a comprehensive approach to sustainability. By adopting ESG principles, companies can innovate boldly, reduce operational risks, attract purpose-driven talent, and earn consumer loyalty through ethical practices. This holistic approach not only aligns with global sustainability goals, but also positions businesses as champions of lasting transformative change across borders and generations.”

Since 2011, the AREA has been recognizing businesses from various industries while honoring their achievements in the categories of Social Empowerment, Investment in People, Health Promotion, Green Leadership, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. This year, over 300 submissions across 19 countries and markets have undergone a grueling judging process based on three criteria: relevance, effectiveness and reach, and sustainability.

The recipients of the Responsible Business Leadership Category, which recognizes visionary leaders who champion responsible entrepreneurship and embed sustainable practices in their business strategy, include Taiwan’s John Yu, Group Chairman of CTCI Group; Philby Lee, Chairperson of Far Eastern Big City Shopping Malls Co., Ltd.; Joseph Huang, Chairman of E.SUN Bank; and Shi-kuan, Chen, of SinoPac Holdings.

Other notable award recipients are Bank Of China (Hong Kong) Limited, Thailand’s Central Retail Corporation Public Company Limited and the Philippines’ SM Store under the Social Empowerment Category; Taiwan’s Pacific SOGO Department Stores Co., Ltd., Cambodia’s Nagaworld Limited and Thailand’s Krungthai Bank PCL. under the Investment In People Category; Malaysia’s Sarawak Energy Berhad and Taiwan Life Insurance Co., Ltd. under the Health Promotion Category; Indonesia’s PT Pertamina Gas and Chugai Pharma Taiwan, and Vietnam Dairy Products Joint Stock Company under the Green Leadership Category; Taiwan’s Excellence Optoelectronics, Inc. and Thailand’s Government Housing Bank under the Corporate Governance Category; CPC Corp., Taiwan and Thailand’s Siam Kubota Corp. Co., Ltd. under the Circular Economy Leadership Category; and the Philippines’ Energy Development Corp. and Taiwan’s Qisda Corp. under the Corporate Sustainability Reporting Category.

In addition to the eight categories, the AREA bestowed the Emblem of Sustainability to businesses with a longstanding commitment to sustainability. The Silver Emblem of Sustainability is awarded exclusively to companies that have received the AREA honor for four years or more, including Apex International Co., Ltd., Bangchak Corporation Public Company Limited, CPC Corp., Taiwan, E.SUN Bank, Far Eastern Big City Shopping Malls Co., Ltd., Metropolitan Electricity Authority, Provincial Electricity Authority, PT Pupuk Kalimantan Timur, Sinopac Holdings, and Taiwan Depository & Clearing Corp. The Gold Emblem of Sustainability is reserved for businesses that have been honored by AREA for eight years or more, including IRPC Public Company Limited and Thai Life Insurance Public Company Limited.

Prior to the AREA, the International CSR & Sustainability (ICS) Summit 2024 was held in the day. The summit convened with over 300 C-suite-level executives, business leaders, and CSR practitioners from 19 countries.

Themed “Embracing The Green Shift: Maximizing Business Opportunities In Sustainability,” the summit provided a regional platform for leading thought leaders and CSR practitioners to explore and implement sustainable practices. The summit equipped attendees with the necessary tools and insights to navigate the ever-evolving sustainability landscape while also leveraging and unlocking new opportunities for growth and expansion.

The Chairman of Enterprise Asia, Tan Sri Dr. Fong Chan Onn, expressed at the summit’s opening that “Sustainability is no longer a mere option but a necessity, a driving force that shapes how we operate, innovate, and grow. Embracing this green shift means acknowledging that our environmental responsibilities go hand-in-hand with our economic goals. By integrating sustainable practices into our business models, we not only protect our environment but also enhance our competitiveness, resilience, and long-term success.”

The speakers were Amalia Goux, Management Consultant and Customer Strategy Expert at AMG Consulting; Alexandra Tracy, President of Hoi Ping Ventures, Hong Kong; Dr. Eugene Chien, Advisor to Enterprise Asia and President and Chairman of the Taiwan Institute for Sustainable Energy (TAISE); Dr. Naoki Adachi, CEO & Founder of Response Ability, Inc. and Executive Director of Japan Business Initiative for Biodiversity (JBIB); Dr. Nguyen Hong Quan, Director of the Institute for Circular Economy Development (ICED) and Associate Professor at the Vietnam National University – Ho Chi Minh City; Dr. Niven Huang, Managing Director of KPMG Sustainability Consulting, Taiwan; Dr. Truong Thi Ai Nhi, Senior Project Manager at the Institute for Circular Economy Development (ICED); Duong Tu Uyen Thao (Tracy), Sales Director of DUYTAN Recycling; Ken Machado Sugita, Head of Sustainability APAC at On; Linh Pham Thanh Dai, Consulting Director of FPT Digital; M.Ed. Nguyen Dinh Quyen, Founder of ESGA and ESG, Green Label, LCA, EPD, Carbon Neutral & Net Zero Advisory Expert; and Nguyen Cong Minh Bao, Vice-Chairman of Eurocham Green Growth Sector Committee, Co-Chairman of the French Chamber of Commerce ESG Task Force (CCIFV), and Co-Founder & COO of ESGs & Climate Consulting.

The AREA and ICS Summit 2024 are supported by CSRone, ESG Malaysia, India CSR, the Kuala Lumpur Malay Chamber of Commerce (KLMCC), Malaysian Alliance of Corporate Directors (MACD), Malaysian Business Chamber of Cambodia (MBCC), Singapore-Thai Chamber of Commerce (STCC) and Taiwan Institute for Sustainable Energy (TAISE).

PR Newswire is the Official News Release Distribution Partner. Bangkok Post, BusinessWorld, Commercial Times, Dailywire.asia, Hong Kong Economic Times, and SME Magazine are the media partners, and Door Gift Sponsors are Cocoon Vietnam and Anessa — No.1 Asia suncare brand.

AWARD RECIPIENT LIST OF THE ASIA RESPONSIBLE ENTERPRISE AWARDS 2024

RESPONSIBLE BUSINESS LEADERSHIP CATEGORY
NAME AND DESIGNATION	ORGANIZATION	COUNTRY
JOHN T. YU GROUP CHAIRMAN	CTCI GROUP	TAIWAN
JOSEPH N.C. HUANG CHAIRMAN	E.SUN BANK	TAIWAN
PHILBY LEE CHAIRPERSON	FAR EASTERN BIG CITY SHOPPING MALLS CO., LTD.	TAIWAN
SHI-KUAN, CHEN CHAIRMAN	SINOPAC HOLDINGS	TAIWAN

SOCIAL EMPOWERMENT CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
ADATA TECHNOLOGY CO., LTD.	INNOVATE TODAY, EMBRACE TOMORROW	TAIWAN
BANK OF CHINA (HONG KONG) LIMITED	AN IMPACTFUL CULTURAL EDUCATION PROGRAMME FOR DIFFERENT STAKEHOLDERS OF SOCIETY	HONG KONG
CATHAY UNITED BANK CO., LTD.	FINANCIAL HEALTH	TAIWAN
CENTRAL RETAIL CORPORATION PUBLIC COMPANY LIMITED	NA MUEN SRI PROJECT	THAILAND
CHUGAI PHARMA TAIWAN	PROMISE OF EQUALITY: LIGHT UP EVERY CORNER WITH SOCIAL CARE	TAIWAN
CK POWER PUBLIC COMPANY LIMITED	HINGHOI PROJECT: RENEWABLE ENERGY FOR SUSTAINABLE COMMUNITY	THAILAND
ENERGY DEVELOPMENT CORPORATION	EDC’S BASLAY COFFEE FARM: BREWING A REGENERATIVE FUTURE	PHILIPPINES
EXCELLENCE OPTOELECTRONICS, INC.	SHARE LOVE, WARM THE HEART	TAIWAN
FAR EASTERN BIG CITY SHOPPING MALLS CO., LTD.	BIG CITY, BIG STAGE	TAIWAN
FAR EASTERN DEPARTMENT STORES LTD.	SHARE FEDS’S LOVE BY CHRISTMAS CHARITY LIGHTING IN 2023	TAIWAN
FARGLORY LIFE INSURANCE CO., LTD.	“TAKE A BREATH, EMPOWERMENT” FAMILY RESPITE SERVICE PROGRAM	TAIWAN
FDC INTERNATIONAL HOTELS CORPORATION	VAKANGAN HOT SPRING PARK — BUILDING A SUSTAINABLE TRAVEL EXPERIENCE IN BEAUTIFUL INDIGENOUS TAIWAN	TAIWAN
GOODYEAR ASIA PACIFIC	TIRE DONATION PROJECT IN THAILAND	CHINA
GREENFEED VIETNAM CORPORATION	TIẾP SỨC NHÀ NÔNG — SUPPORTING FARMERS	VIETNAM
HOTAI FINANCE CORPORATION	BUILD ROAD SAFETY ECOSYSTEM, HFC PROMOTES THE MOTORCYCLE SAFETY PROJECT	TAIWAN
IRPC PUBLIC COMPANY LIMITED	IRPC YOUNG SMART FARMERS	THAILAND
KGI LIFE INSURANCE CO., LTD.	EMPOWERING FUTURE GENERATIONS IN REVITALIZING REGIONS	TAIWAN
KINDOM GROUP	“KIND-REPAIR” CYCLING PROJECT	TAIWAN
KRUNGTHAI BANK PCL.	KRUNGTHAI LOVES COMMUNITY: BAAN POLTAI SUSTAINABLE TOURISM COMMUNITY	THAILAND
MITSUBISHI ELEVATOR (THAILAND) CO., LTD.	HOMETOWN SCHOOL DEVELOPMENT	THAILAND
NAGAWORLD LIMITED	INTEGRATED SUSTAINABLE DEVELOPMENT: EMPOWERING COMMUNITIES THROUGH EDUCATION, SPORTS AND ENVIRONMENTAL CARE	CAMBODIA
PACIFIC SOGO DEPARTMENT STORES CO., LTD.	EMPOWERING SMALLHOLDERS AND SOCIAL ENTERPRISES AND CREATING A SUSTAINABLE ECOSYSTEM	TAIWAN
PRESIDENT CHAIN STORE CORP.	GOOD NEIGHBOR MEAL DELIVERY TEAM — SETTING OUT FOR LOVE	TAIWAN
PROVINCIAL ELECTRICITY AUTHORITY	PEA CARES FOR YOU	THAILAND
PT PERTAMINA EP LIMAU FIELD	ANGGREK DEWATA	INDONESIA
PT PLN NUSANTARA POWER UP CIRATA	CIECRA (CIRATA ECENG CRAFT)	INDONESIA
PT PUPUK ISKANDAR MUDA	EMPOWERMENT OF COMMUNITIES BASED ON PEATLAND CONSERVATION IN PAYA NIE	INDONESIA
PT PUPUK KALIMANTAN TIMUR	PKT BISA (INTEGRATED AGRICULTURAL PROGRAM FOR INNOVATIVE AND PROSPEROUS BABADAN)	INDONESIA
PT PUPUK SRIWIDJAJA PALEMBANG	HEALTHY AND PROSPEROUS KEMARO ISLAND	INDONESIA
PUPUK KUJANG	KUJANG NURTURING FORESTS, ENRICHING VILLAGES	INDONESIA
SARAWAK ENERGY BERHAD	BALEH HYDROELECTRIC PROJECT (HEP): EMPOWERING THE COMMUNITY THROUGH RESPONSIBLE DEVELOPMENT AND SUSTAINABLE PRESERVATION OF LOCAL CULTURE AND HERITAGE	MALAYSIA
SIAM KUBOTA CORPORATION CO., LTD.	NONG PHAKBUNG MODEL	THAILAND
SIAM PIWAT COMPANY LIMITED	SIAM PIWAT SUPPORTS THAI CRAFTSMANSHIP	THAILAND
SINOPAC HOLDINGS	SINOPAC STORE POWER UP PROJECT	TAIWAN
SINYI REALTY, INC.	FROM BUSINESS ETHICS TO A HOLISTIC SUSTAINABILITY CIRCLE	TAIWAN
SM STORE	SHOP&SHARE MOVEMENT	PHILIPPINES
STANDARD CHARTERED BANK (TAIWAN) LIMITED	WOMEN IN ENTREPRENEURSHIP	TAIWAN
TAIWAN BUSINESS BANK	TAIWAN BUSINESS BANK DIGITAL FRIENDLY FINANCE ECOSYSTEM, ESG WITH LOVE ~ BARRIER-FREE LIVING	TAIWAN
TAIWAN LIFE INSURANCE CO., LTD.	SUPPORT BATHING AT HOME ELDERS “BATH” BACK TO HAPPINESS	TAIWAN
TCP GROUP	‘TCP EMBRACING THAILAND’S RIVER BASIN’ PROJECT	THAILAND
VIEON CORPORATION	ACCOMPANYING NAM PHUONG FOUNDATION	VIETNAM

INVESTMENT IN PEOPLE CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
ARVATO SYSTEMS MALAYSIA SDN BHD	DRIVING SUCCESS THROUGH EVER-EVOLVING INVESTMENT IN PEOPLE FOR GROWTH	MALAYSIA
EEI CORPORATION	EEI FOR THE PEOPLE	PHILIPPINES
KRUNGTHAI BANK PCL.	BUILDING SUSTAINABLE GROWTH THROUGH EMPLOYEE EXCELLENCE AND COLLABORATION	THAILAND
NAGAWORLD LIMITED	TRAINING FOR SUCCESS, ENGAGING FOR GROWTH	CAMBODIA
PACIFIC SOGO DEPARTMENT STORES CO., LTD.	FIVE-YEAR VISION PROJECT: FOSTERING A SUSTAINABILITY MINDSET AMONG ALL EMPLOYEES	TAIWAN
PRESIDENT CHAIN STORE CORP.	INCREASE SAFETY MOTIVATION AND BUILD AN INCLUSIVE FUTURE	TAIWAN
ROX GROUP	SOWING THE SEEDS OF HAPPINESS IN THE WORKPLACE	VIETNAM
SINOPAC HOLDINGS	SINOPAC’S SEED CULTIVATION AND DEVELOPMENT PROGRAM	TAIWAN
SINYI REALTY, INC.	EMPOWERING DIVERSE DIGITAL CAPABILITIES TO CREATE LOW-CARBON TALENTS	TAIWAN
STANDARD CHARTERED BANK (TAIWAN) LIMITED	BEST ADVANCE IN DIVERSITY, EQUITY, AND INCLUSION INITIATIVES	TAIWAN
TAIWAN LIFE INSURANCE CO., LTD.	INSURANCE SERVICE PROFESSIONAL PROGRAM	TAIWAN
TAIWAN POWER COMPANY	METICULOUS TRAINING GROUND FOR TOMORROW’S ELECTRICAL EXPERTISE	TAIWAN
TVBS MEDIA, INC.	TVBS DIGITAL TALENT SUSTAINABILITY PROJECT	TAIWAN

HEALTH PROMOTION CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
AIA THAILAND	AIA ONE BILLION TRAIL	THAILAND
ASIA CEMENT CORPORATION	PROMOTE THE WORKPLACE HEALTH AND SAFETY SYSTEM AND IMPLEMENT WORKPLACE WELL-BEING	TAIWAN
DARFON ELECTRONICS CORP.	GOOD HEALTH AND WELL-BEING	TAIWAN
KRUNGTHAI-AXA LIFE INSURANCE PCL.	CARAVAN HEALTH CHECK	THAILAND
NAN SHAN LIFE INSURANCE	MOMMY AND BABY CARE SERVICE	TAIWAN
SARAWAK ENERGY BERHAD	BALEH HYDROELECTRIC PROJECT (HEP): ENSURING GOOD HEALTH & WELL-BEING OF INDIGENOUS COMMUNITIES THROUGH EQUITABLE HEALTH ACCESS	MALAYSIA
TAIWAN LIFE INSURANCE CO., LTD.	TEAMWALK HEALTHY ENTERPRISE ECOSYSTEM	TAIWAN

GREEN LEADERSHIP CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
AMTRAN TECHNOLOGY CO., LTD.	SAVING THE WORLD, SEEING BETTER WORLD	TAIWAN
BANGCHAK CORPORATION PUBLIC COMPANY LIMITED	CARBON MARKETS CLUB	THAILAND
CHUGAI PHARMA TAIWAN	COMMITMENT TO ECOLOGY: TRANSFORMATIVE GREEN ACTIONS FOR LASTING INFLUENCE	TAIWAN
CPC CORPORATION, TAIWAN	GREEN REMEDIATION AT TAICHUNG OIL SUPPLY CENTER: SAFEGUARDING A CLEAN LAND	TAIWAN
CTCI GROUP	INTELLIGENT EPC LEADS A NEW ERA OF CLIMATE NET ZERO	TAIWAN
EDL-GENERATION PUBLIC COMPANY	SOCIAL ENGAGEMENT & ENVIRONMENTAL CONSERVATION	LAOS
ENERGY ABSOLUTE PUBLIC COMPANY LIMITED	PRODUCTION OF THE SYNTHESIZED BIOFUEL USING VARIOUS TYPES OF WASTE OIL	THAILAND
ENERGY DEVELOPMENT CORPORATION	EDC BINHI: 15 YEARS OF GREENING THE FUTURE	PHILIPPINES
FAR EASTERN BIG CITY SHOPPING MALLS CO., LTD.	BIG CITY, BIG GREEN	TAIWAN
FDC INTERNATIONAL HOTELS CORPORATION	GO GREEN INITIATIVE— ACHIEVING LOW-CARBON LUXURY AND SUSTAINABLE HOSPITALITY AT FDC INTERNATIONAL HOTELS	TAIWAN
FORMOSA SOLAR RENEWABLE POWER GROUP	THE MOST RELIABLE AND LEADING PARTNER IN TAIWAN’S ENERGY TRANSITION	TAIWAN
FRASERS PROPERTY INDUSTRIAL (THAILAND)	SPX EXPRESS (THAILAND) SORTING CENTER	THAILAND
FUBON LIFE INSURANCE CO., LTD.	BE POSITIVE AND ENRICH LIFE: THE LEADER IN SUSTAINABLE OPERATIONS — FUBON LIFE	TAIWAN
GOODYEAR ASIA PACIFIC	SOLAR PANEL PROJECT AT PLD	CHINA
GREENFEED VIETNAM CORPORATION	SUSTAINABLE RESOURCE MANAGEMENT	VIETNAM
HANDONG ENGINEERING & CONSTRUCTION JSC (HANDONG E&C)	HANDONG’S INITIATIVE FOR A GREENER FUTURE	VIETNAM
HD RENEWABLE ENERGY CO., LTD.	CO-PROSPERITY OF FISHERY AND ELECTRICITY SYMBIOSIS PLANT AND MIGRANT BIRDS	TAIWAN
HYLIFE DEVELOPMENTS CO., LTD.	HYFIVE FIREBREAK FIRELINE	THAILAND
IGC GROUP	GREEN SCHOOLS FOR SUSTAINABLE DEVELOPMENT	VIETNAM
KINDOM GROUP	IMPLEMENT SCIENTIFIC CARBON REDUCTION AND COMPREHENSIVE NET-ZERO BUILDINGS	TAIWAN
KING STELLA GROUP CO., LTD.	KSG EMPOWERING FAMILY LOVER	THAILAND
KRUNGTHAI-AXA LIFE INSURANCE PCL.	SAVE OUR SEA 2023	THAILAND
MICROCHIP TECHNOLOGY (THAILAND) CO., LTD.	RENEWABLE ENERGY FOR THE FUTURE	THAILAND
NAGAWORLD LIMITED	A SUSTAINABLE AND GREEN CAMBODIA THROUGH NAGAWORLD KIND HEARTS	CAMBODIA
PACIFIC SOGO DEPARTMENT STORES CO., LTD.	SUSTAINABLE DEPARTMENT STORE 2.0: ALIGNING WITH INTERNATIONAL STANDARDS AND STRENGTHENING CLIMATE RESILIENCE	TAIWAN
PRESIDENT CHAIN STORE CORP.	ZERO-WASTE AND LOW-CARBON DIET	TAIWAN
PT PERTAMINA GAS	EMPOWERING GREEN BUSINESS THROUGH PROPER	INDONESIA
SINOPAC HOLDINGS	OPERATIONAL ENERGY SAVINGS, CARBON REDUCTION AND SUSTAINABLE SUPPLY CHAIN MANAGEMENT	TAIWAN
TAIWAN DEPOSITORY & CLEARING CORPORATION	TDCC ENOTICE PLATFORM	TAIWAN
TAIWAN POWER COMPANY	ECO-FRIENDLY POWER PLANTS: HARMONIZING WITH NATURE FOR A SUSTAINABLE FUTURE	TAIWAN
TEX YEAR INDUSTRIES, INC.	TEX YEAR GPS GREEN PLATFORM STRATEGY – THE GREEN NAVIGATOR OF SUSTAINABILITY	TAIWAN
VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY	VINAMILK PATHWAYS TO DAIRY NET-ZERO 2050	VIETNAM
VINCOM RETAIL JOINT STOCK COMPANY	THE NATIONWIDE IMPACT ON PIONEERING GREEN LIFESTYLES	VIETNAM
WATSONS PERSONAL CARE STORES (PHILS.), INC.	SUSTAINABILITY INITIATIVES 2023: PLANET, PEOPLE, PRODUCTS	PHILIPPINES

CORPORATE GOVERNANCE CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
CHAILEASE INTERNATIONAL LEASING COMPANY	EXCELLENT CORPORATE GOVERNANCE ENTERPRISE	VIETNAM
EXCELLENCE OPTOELECTRONICS, INC.	EOI’S SUSTAINABLE CORPORATE GOVERNANCE	TAIWAN
GOVERNMENT HOUSING BANK	GOOD GOVERNANCE TOWARDS SUSTAINABLE HOUSING [G H] BANK	THAILAND
METROPOLITAN ELECTRICITY AUTHORITY	MEA FROM GOOD TO GREA	THAILAND
THAIPLASTIC RECYCLE GROUP CO., LTD.	YOU SORT, WE RECYCLE	THAILAND

CIRCULAR ECONOMY LEADERSHIP CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
CPC CORPORATION, TAIWAN	THE GREEN RENOVATION OF THE HSINCHU OIL SUPPLY CENTER CREATES A CIRCULAR ECONOMY OF LAND AND RESOURCES	TAIWAN
SIAM KUBOTA CORPORATION CO., LTD.	KUBOTA ZERO BURN PROJECT	THAILAND
THAIPLASTIC RECYCLE GROUP CO., LTD.	EARTHWORM SOIL PROJECT FROM INDUSTRIAL SLUDGE TOWARDS A SUSTAINABLE COMMUNITY	THAILAND

CORPORATE SUSTAINABILITY REPORTING CATEGORY
ORGANIZATION	WINNING CSR PROGRAM	COUNTRY
APEX INTERNATIONAL CO., LTD.	APEX 2022 ESG REPORT	THAILAND
CPC CORPORATION, TAIWAN	CPC INNOVATES GREEN PROCUREMENT; LEADING SUSTAINABILITY INTO THE FUTURE	TAIWAN
CTCI GROUP	A GUARDIAN OF SUSTAINABLE EARTH: ENHANCING INNOVATIVE ESG IMPACT	TAIWAN
ENERGY DEVELOPMENT CORPORATION	EDC 2022 INTEGRATED REPORT: REGENERATING A DAMAGED WORLD	PHILIPPINES
EUPE CORPORATION BERHAD	EUPE SUSTAINABILITY REPORT FY2023	MALAYSIA
EXCELLENCE OPTOELECTRONICS, INC.	EXCELLENCE OPTOELECTRONICS INC. SUSTAINABILITY REPORT 2022	TAIWAN
FAR EASTERN DEPARTMENT STORES LTD.	SUSTAIN FOR A GOOD LIFE	TAIWAN
FARGLORY LIFE INSURANCE CO., LTD.	2022 FGLIFE SUSTAINABILITY REPORT	TAIWAN
FDC INTERNATIONAL HOTELS CORPORATION	FDC 2022 SUSTAINABILITY REPORT — BUILDING SUSTAINABILITY & HERITAGE IN TOURISM	TAIWAN
FUBON LIFE INSURANCE CO., LTD.	FUBON LIFE INSURANCE 2022 CORPORATE SUSTAINABILITY REPORT	TAIWAN
HD RENEWABLE ENERGY CO., LTD.	2022 SUSTAINABILITY REPORT ~ PIONEER OF CLEAN ENERGY, FORGING A NEW WORLD OF GREEN ENERGY	TAIWAN
METROPOLITAN ELECTRICITY AUTHORITY	CREATING A DECARBONIZING SOCIETY FOR ALL	THAILAND
NAN SHAN LIFE INSURANCE	NAN SHAN LIFE 2023 CORPORATE SUSTAINABILITY REPORT	TAIWAN
PROVINCIAL ELECTRICITY AUTHORITY	SUSTAINABILITY REPORT 2022	THAILAND
QISDA CORPORATION	TOGETHER, MAKE THE WORLD BETTER	TAIWAN
SINOPAC HOLDINGS	TOGETHER, A BETTER LIFE	TAIWAN
SINYI REALTY, INC.	SINYI REALTY 2022 SUSTAINABILITY REPORT	TAIWAN
THAI LIFE INSURANCE PUBLIC COMPANY LIMITED	TLI’S SUSTAINABILITY REPORT 2023	THAILAND

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On Philippine-American Friendship Day we celebrate a year of historic achievements

July 4, 2024 | 8:19 am

By MaryKay Carlson

On the Fourth of July – US Independence Day and Philippine-American Friendship Day – we look back on what the US-Philippine partnership has achieved over the past 12 months. We’ve reached incredible milestones together as friends, partners, and allies, setting a bold agenda to build a more secure and prosperous future for our peoples.

The Trilateral Leaders’ Summit among President Biden, President Marcos, and Japanese Prime Minister Kishida in Washington was a historic moment in a year of exceptional achievements. The leaders committed to advancing the security and prosperity of all three nations, the Indo-Pacific region, and the world through cooperation on economic growth, critical technologies, the digital economy, climate and clean energy, infrastructure, and peace and security. They announced the Luzon Economic Corridor under the Partnership for Global Infrastructure and Investment and the Indo-Pacific Economic Framework (IPEF) Investment Accelerator, which will support transformative public and private investments from Subic Bay to Batangas – home to 40% of the Philippines’ population and 50% of its economic activity. The three leaders also announced $8 million for Open Radio Access Network (RAN) field trials that will pave the way for more affordable and secure telecommunications.

As President Marcos has said, economic security is national security. Our commitment to bring greater private investment to the Philippines is multifaceted. In March, Secretary of Commerce Raimondo led the first-ever Presidential Trade and Investment Mission to the Philippines, where US firms announced more than $1 billion in investments in key sectors and new partnerships to help develop a future-ready Philippine workforce. We built on these engagements in May during the Indo-Pacific Business Forum in Manila, where the US Trade and Development Agency awarded a grant to a Filipino company to deliver affordable, high-quality internet connectivity to underserved communities in the Philippines.

We are accelerating investment in the Philippines with the introduction of new tools and resources. Later this year, the US Development Finance Corp. (DFC) plans to open a Manila office, its fifth location in the Indo-Pacific region. This new office underscores DFC’s growing focus on the Philippines in critical sectors such as renewable energy, agriculture, critical minerals, and infrastructure.

The Millennium Challenge Corp. returned to the Philippines this year and now has a team on the ground to co-develop a threshold program. This program identifies key constraints to economic growth and creates favorable conditions for new investments from the private sector and development partners.

The United States is committed to supporting the Philippines’ clean energy transition. Last November, at the Asia-Pacific Economic Cooperation Leaders’ Week in San Francisco, Secretaries Lotilla and Blinken signed a civil nuclear cooperation agreement, or “123 Agreement,” facilitating US-Philippine cooperation to responsibly develop a peaceful, sustainable nuclear energy program. The Philippines Department of Energy (DoE) and the Philippine-American Educational Foundation are creating scholarships and academic exchanges on nuclear power and clean energy, and the US Agency for International Development (USAID) is partnering with DoE to develop a comprehensive civil nuclear energy policy.

USAID partnered with the Philippine government to launch its first Green Energy Auction Program, in which private sector companies compete to offer the most affordable prices to supply renewable energy to the grid, driving billions of dollars in investments and increasing renewable energy capacity by 65% by 2026. The US Departments of State and Energy also launched the US-Philippine Energy Policy Dialogue to deepen cooperation in this field.

Our military alliance continues to flourish. We have improved our bilateral exercises and established new ways to work together to address 21st century security challenges, such as cyber defense. We have reinvigorated our maritime cooperation, conducting joint naval engagements alongside Australia, Canada, France, and Japan. The United States continues to expand funding to help modernize the Armed Forces of the Philippines.

Underpinning all these important endeavors are close and meaningful bonds of friendship and family ties that form not only the foundation upon which our relations are based, but a springboard for reaching new heights in the future.

On this day last year, I hailed the positive momentum in US-Philippine relations. Since then, that momentum has accelerated significantly. As Secretary Blinken described it during his most recent visit to Manila, the US-Philippine relationship is on hyperdrive and has never been stronger. Let’s see what we can accomplish in the next 12 months!

MaryKay Carlson is US Ambassador to the Philippines.

House eyes budget approval by Sept.

July 4, 2024 | 12:34 am

THE HOUSE of Representatives is looking to approve the proposed P6.352-trillion national budget for 2025 before Congress goes on a break in September, House Speaker and Leyte Rep. Ferdinand Martin G. Romualdez said on Wednesday.

“Aside from our commitment in approving the few remaining LEDAC (Legislative-Executive Development Advisory Council) priority measures agreed upon during the June 25 council hearing, the House will again work doubly hard to pass the proposed P6.352-trillion 2025 General Appropriations Bill before we go on break this end of September 2024,” Mr. Romualdez said in a statement.

The Development Budget Coordination Committee last week proposed a P6.352-trillion budget for 2025, a 10% increase from this year’s P5.768-trillion budget.

Budget Secretary Amenah F. Pangandaman last week said the proposed National Expenditure Program for 2025 will be submitted to the House on July 29, one week after Congress reopens on July 22.

“The National Expenditure Program will undergo rigorous scrutiny to ensure that every peso allocated is judiciously spent and aligned with our national priorities,” Party-list Rep. Elizaldy S. Co, who heads the House Appropriations Committee, said in a separate statement.

Mr. Romualdez said the House will conduct budget hearings but also deliberate on the LEDAC priority measures.

These include amendments to a law that privatized the power industry and a proposal to extend the lease period for foreign investors. Other pending measures include amendments to the agrarian reform law and bills seeking to modernize public budgeting and national defense.

Analysts said the higher allocation for next year’s budget could drive economic growth. Economic managers are targeting 6.5-7.5% gross domestic product growth in 2025.

“The growth of more than +10% in the 2025 national budget… would bode well for faster economic and GDP (gross domestic product) growth. The largest allocation for education, infrastructure, social services, among others, would help expedite economic growth and development,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The government should ensure that its budget is efficiently spent to reap the economic benefits, Leonardo A. Lanzona, an economics professor at the Ateneo de Manila University told BusinessWorld in a Facebook Messenger chat.

“The huge budget does not guarantee any improvement in the Philippine economy. A lot will depend on how efficiently it will be used and distributed,” he said.

Mr. Lanzona said economic managers should look at reducing the country’s “high debt-to-GDP ratio” to meet sustained economic growth.

The debt-to-GDP ratio stood at 60.2% as of the first quarter. This year, the government’s debt-to-GDP ratio target was set at 60.3%, slightly higher than the 60% threshold considered by multilateral lenders to be manageable for developing economies.

“Tax and fiscal reform measures would be realistically needed to bring down the country’s debt-to-GDP ratio to below the 60% international threshold, helping sustain the country’s relatively favorable credit ratings,” Mr. Ricafort said.

The government should intensify tax collections before considering new tax laws, he added.

“Priority would be to intensify tax collections from existing tax laws and encourage compliance with the payment of correct taxes,” Mr. Ricafort said. “Last option would be new and higher taxes, especially if inflation stabilizes in the coming months and years.” — Kenneth Christiane L. Basilio

PHL could reap P2.6T annually from AI — Balisacan

July 4, 2024 | 12:33 am

AI-artificial intelligence — Artificial Intelligence words are seen in this illustration taken March 31, 2023. — REUTERS/DADO RUVIC/ILLUSTRATION/FILE PHOTO

THE PHILIPPINE ECONOMY could gain P2.6 trillion annually if domestic businesses adopt artificial intelligence (AI), the National Economic and Development Authority (NEDA) said.

“The technology is estimated to contribute $15.7 trillion to the global economy by 2030, with the Philippines potentially gaining P2.6 trillion annually if businesses adopt AI-powered solutions,” NEDA Secretary Arsenio M. Balisacan said during the launch of the National AI Strategy Roadmap 2.0 and Center for AI Research (CAIR) on Wednesday.

“Sectors such as retail, logistics, manufacturing, and financial services can revolutionize operations and enhance performance through the use of AI,” he added.

The AI roadmap and the CAIR were launched by the Department of Trade and Industry (DTI) and the Asian Development Bank on Wednesday. The center is tasked to “transform the Philippines into a premier destination for AI-driven innovation and investments.”

“This upgraded roadmap incorporates the latest technologies, recalibrates our strategic actions, and addresses emerging concerns such as ethics and governance,” Trade Secretary Alfredo E. Pascual said at the event.

The roadmap, which is targeted to be finalized next month, will focus on strategic imperatives such as building a networked environment, improving data access, transforming education and nurturing future AI talents, upskilling and reskilling the workforce, building an AI ecosystem “conscience,” pushing the boundaries of AI, and accelerating innovation.

In terms of immediate priorities, Mr. Pascual said that the DTI is targeting to increase the country’s gross expenditure on research and development, which is only 0.3% of the gross domestic product (GDP), to meet UNESCO’s recommended target of 1%.

“Another immediate priority is the upskilling and reskilling of our current workforce. Concurrently, increasing the number of AI and data science graduates is crucial and a compelling priority,” he said.

Mr. Balisacan said the roadmap would help ensure a fair transition to the adoption of AI by supporting displaced workers through upskilling, reskilling, and training.

“We should have done that earlier,” he told reporters on the sidelines of the launch. “Just like any disruptive innovation, if you prepare well, it should be a boon. [If] you don’t prepare well, it becomes a bane.”

In 2023, the Philippines ranked 65^th out of 193 countries in the Government AI Readiness Index by Oxford Insights.

The NEDA chief said that integrating AI in education will equip Filipinos with the necessary skills to “capitalize on emerging technologies, giving the country a competitive advantage, attracting more investments, and fueling economic growth.”

“By integrating generative AI, the Philippines can take a leading role in creative industries, software development, and other high value-adding services, further boosting our economic potential.”

Mr. Balisacan also said that the proposed Open Access in Data Transmission Act or the Konektadong Pinoy Bill would help the Philippines maximize the benefits of AI. The House of Representatives approved the bill in 2022, while a counterpart bill is still pending before a Senate committee.

“By promoting access to affordable and better-quality internet services, this legislation will allow the country to harness the full benefits of AI,” he added.

Mr. Pascual said the DTI is also spearheading the formulation of a national AI governance framework in partnership with the Analytics Association of the Philippines. It is targeted for completion by the end of 2024.

“The ethical use of AI must be addressed. In public policy, the rapid diffusion of AI innovations calls for governance frameworks balancing AI innovation and responsible adoption,” Mr. Pascual said.

The National AI Governance Framework will establish the approved scope and limitations of what developers and stakeholders can do, he said.

UPPER MIDDLE-INCOME COUNTRY
Meanwhile, gross national income (GNI) per capita should grow by at least 6.7% this year to ensure the Philippines becomes an upper middle-income country by next year, Mr. Balisacan said.

“We are now $4,230 [in terms of GNI]. So, you only need 6.7% (GNI) growth,” he told reporters.

According to the World Bank’s latest income classification data, the Philippines remained a lower middle-income country with a GNI per capita of $4,230 in 2023.

To become an upper middle-income country, the Philippines needs to have an estimated GNI per capita of $4,516 to $14,005, according to the World Bank.

Despite this, Mr. Balisacan said that achieving upper middle-income status by late 2025 or early 2026 is still “within reach” as the government is projecting 6-7% economic growth this year.

The World Bank has classified the Philippines as a lower middle-income country since 1987. It earlier said the country would likely cross the upper middle-income threshold by 2026. — Beatriz Marie D. Cruz and Justine Irish D. Tabile

Monetary Board has two vacancies after departures

July 4, 2024 | 12:32 am

BSP building-Bloomberg — BANGKO SENTRAL NG PILIPINAS — BLOOMBERG

THE PHILIPPINE central bank’s rate-setting body has two vacancies after President Ferdinand R. Marcos, Jr. accepted the resignations of two board members.

The presidential office has informed Monetary Board members V. Bruce J. Tolentino and Anita Linda R. Aquino and the central bank last week that their resignations have been accepted effective June 30, the Bangko Sentral ng Pilipinas (BSP) said in an e-mail reply to a query.

The vacancies occur as the Southeast Asian nation is facing its highest borrowing cost in 17 years and a currency that’s near record low.

Mr. Tolentino and Ms. Aquino resigned as the central bank probed a report that several of their staffers were receiving salaries but were not reporting for work. Incoming officials will serve their unfinished terms which end July 2026.

The central bank’s charter requires all decisions of the Monetary Board to have the concurrence of at least four members. — Bloomberg

PHL fiber broadband adoption ‘extremely challenging’

July 4, 2024 | 12:31 am

Ethernet cable wires — ETHERNET cable wires are connected to an internet router modem in this illustration photo taken on April 17, 2024. — JAAP ARRIENS/NURPHOTO VIA REUTERS CONNECT

By Luisa Maria Jacinta C. Jocson, Reporter

THE WIDER ADOPTION of fiber broadband in the Philippines remains “extremely challenging,” but that may soon improve if the government successfully implements a project to roll out fiber-optic infrastructure in last-mile areas, Fitch Solutions’ unit BMI said.

In a report, BMI said the Philippine Digital Infrastructure Project (PDIP), which was recently approved by the National Economic and Development Authority (NEDA) Board, will “catalyze further foreign investment in the Philippines’ wider information and communications technology (ICT) ecosystem.”

“Adoption of fiber broadband at the household level remains extremely challenging in the Philippines, and the PDIP may only provide marginal upsides to our outlook,” it said.

BMI forecasts expect over 1.83 million FTTx (Fiber to the x) subscriptions in 2033, for a penetration rate of 1.4 every 100 people. This is higher than its 2024 FTTx forecast of 1.58 million subscribers with a penetration rate of 1.3 per 100 people.

“We believe that obstacles to consistent and widespread fiber uptake remain the prices of packages in last-mile areas, particularly stemming from the elevated costs of rollout that are further increased by the Philippines’ archipelagic configuration,” it said.

BMI said its forecasts reflect a consistent uptake for fiber broadband among households in metro and suburban areas.

“Execution and project management will be key for the success of the PDIP to boost stronger fiber uptake among Philippine-based households. By extensively co-financing last-mile area rollout, wholesale network providers and internet service providers (ISPs) may be encouraged to further decrease prices on fiber bundles though at the expense of average revenue per user (ARPU) figures,” it said.

BMI said fiber broadband providers that also own the infrastructure are tweaking their strategies to boost uptake.

“Consumer interest in fiber is evident and grounded in sizable mobile data traffic increases,” it said.

For example, it cited Globe Telecom, Inc.’s mobile data traffic which grew to 1,600 exabytes (EB) in the fourth quarter of 2023 from 836 EB in the first quarter of 2021.

“That said, consumers have shown that they are not immediately able to (consistently) buy in long-term contracts with prices around P1,500 ($25.5).”

BMI noted that there have been efforts to introduce low-cost fiber offerings, such as from Globe, PLDT Inc., and Converge ICT Solutions, Inc.

“Renewed government efforts to fiberize the Philippines’ last-mile areas will be beneficial for the players with a large risk-seeking stance. Regardless, wider digital transformation ambitions and the attractiveness of the Philippines’ ICT market are set to benefit from a stronger nationwide backbone and last-mile network density.”

Meanwhile, National Campaigner of digital advocacy group Digital Pinoys Ronald B. Gustilo said that the PDIP will help hasten the government’s efforts to provide internet connection to disadvantaged areas.

“We are hoping that this will also pave the way for the decrease in internet rates and the improvement of the quality of connectivity services,” he said in a Viber message.

Sam Jacoba, founding president of the National Association of Data Protection Officers of the Philippines, said that upgrading the country’s digital infrastructure is the “foundation for the country to remain competitive in the global digital economy.”

“It is crucial that the investments will strategically target areas or segments in the country that will bolster digital economic activities, while bridging the digital divide,” he said in a Viber message.

Mr. Jacoba said there must also be a focus on digital skills training and enablement. Digital content creation initiatives should also be targeted to growth areas such as artificial intelligence, he said.

“Hopefully, the digital economic impact of this loan-funded project will eventually pay for itself through the new digital businesses that it will create,” he added.

Mr. Gustilo also called for the strict implementation of Executive Order No. 32, which streamlines the processes for the construction of telecommunications and internet infrastructure. This would cut red tape and ensure the delivery of internet services to geographically isolated and disadvantaged areas, he added.

The World Bank earlier reported that household penetration for fixed broadband in the Philippines stood at 33% in 2022.

The cost of fixed broadband was more than four times more expensive than Malaysia and Vietnam and more than double the Southeast Asian average, it added.

Allied Care Experts (ACE) Medical Center-Legazpi, Inc. announces Annual Stockholders’ Meeting on Aug. 1 via Zoom

July 4, 2024 | 12:15 am

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8990 Holdings, Inc. to conduct annual meeting of stockholders online on July 29

July 4, 2024 | 12:10 am

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Cebu Pacific eyeing sale-leaseback deals for Airbus fleet

July 4, 2024 | 12:06 am

BUDGET CARRIER Cebu Pacific, operated by Cebu Air, Inc. (CEB), is confident in securing financing for its P1.4-trillion Airbus aircraft order through a combination of equity injections and loans, its top official said on Wednesday.

“We’ll fund this from a combination of equity and loans; most of the lending for airplanes are generally done through sale and leaseback arrangements or through financing leases,” Cebu Air Chairman Lance Y. Gokongwei told reporters on the sidelines of a launch event in Pasig City.

“Given Cebu Pacific’s strong track record, we’re the only privately owned carrier that did not default on its loans during the pandemic, we have a very strong credibility with the capital markets community. We’re sure that we can get financing from either the bank market or the sale and leaseback market,” he added.

The airline is buying up to 152 A321 new engine option (NEO) aircraft from European aircraft manufacturer Airbus, marking the largest aircraft order in the Philippines.

The agreement is expected to be finalized in the third quarter.

“The deliveries will be from 2028 forward. We’re still completing our previous deal, which will bring us all the way to 2027,” Mr. Gokongwei said.

The budget carrier chose Pratt & Whitney GTF engines to power the aircraft, despite previously reported issues with the engine manufacturer.

“Airbus and Pratt & Whitney came forward with what we feel was the best offer. We’re looking at the lowest unit cost to operate so that we can continue to provide affordable fares to the public.”

Mr. Gokongwei added that the aircraft order is “premised on continuing Philippine growth.”

“The main trigger we saw was President Ferdinand R. Marcos, Jr.’s really sincere efforts and strong efforts to really expand infrastructure, including privatization. We now see that Manila (Ninoy Aquino International Airport) has been privatized. Bulacan (airport) is a reality. That needs aircraft, and so we made this aircraft order,” he said.

The airline’s fleet currently consists of 73 Airbus and ATR aircraft.

On the budget carrier’s plans for new routes, Mr. Gokongwei said the airline is considering destinations within the operational range of the new aircraft.

Cebu Pacific currently operates flights to 35 domestic and 24 international destinations spanning Asia, Australia, and the Middle East.

“Anything that is within our flying radius, about five hours. Both domestic and international. We’ve been adding a lot of flights lately. It is a function also of which airports are going to be privatized and are going to be opened up right away,” he said.

“When we get the longer range Airbus 321s, which are available from early 2026, then we can go up to a seven, eight-hour range on a narrow body,” he added.

NEW AIRCRAFT DELIVERY
The company also announced on Wednesday that it had received its new Airbus A321NEO, progressing to almost half of the 17 aircraft delivery expected this year.

“We look forward to carrying more passengers to their chosen destinations as we continue to expand not only our network, but also our fleet,” Cebu Pacific Chief Commercial Officer Alexander G. Lao said in a media release.

The brand-new aircraft arrived at the Ninoy Aquino International Airport on June 30 from Airbus’ facility in Germany, Cebu Pacific said.

Airbus’ NEO aircraft is known for its enhanced fuel efficiency, representing the latest generation of Airbus planes designed to be highly compatible with sustainable aviation fuel (SAF).

Currently, all Airbus aircraft are certified to operate with up to a 50% SAF blend, aligning with Cebu Pacific’s goal of integrating green fuel across its network. — R.M.D. Ochave and A.E.O.J.