Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 2252

Impact Pioneers Network calls for more financial support for Filipino climate entrepreneurs

L-R: Priya Thachadi, CEO of Villgro Philippines; Raymond Serios, director for Strategy Projects and Administration of Negros Women for Tomorrow Foundation; Henry Sison, founder of Agro-DigitalPH; Jennifer Morante, director for Corporate and Regulatory Affairs of Magnus Renewable Tech Corp.; Abigail Tan, director for Corporate and Regulatory Affairs of ARQCapital Partners, Inc.; and, Richard Milante, head of operations of Two Tigers Holding Corp.

Impact Pioneers Network (IPN), a first-of-its-kind impact investing network, underscores the importance of making funding options more accessible to Filipino climate entrepreneurs to address urgent climate issues in the country through actionable and scalable climate solutions.

The network, together with Co-Manager Villgro Philippines, held a forum themed “Climate Action Showcase: Accelerating Enterprise Models for a Sustainable Future” at the Philippine Startup Week last year, where they emphasized the role of climate enterprises in creating local and innovative climate solutions.

“We need to empower Filipino climate entrepreneurs through accessible funding and support programs so they can lead the development of innovative and sustainable practices and products,” said Villgro Philippines CEO Priya Thachadi. “These solutions will not only respond to the pressing threats of climate change we face but will play a critical role to create a more sustainable ecosystem in the future.”

According to the Asian Development Bank, the Philippines is one of the world’s most vulnerable countries to climate change with people experiencing an increasing barrage of cyclones, floods, drought, and heat waves. The current climate crisis calls for an urgent need for the public and private sectors to accelerate solutions that are responsive to the needs of local communities.

The event featured a panel discussion among investors, innovators, and ecosystem leaders on how climate entrepreneurs can unlock funding to grow their business and contribute to climate action goals at the same time.

In the panel were Raymond Serios, director for Strategy Projects and Administration of Negros Women for Tomorrow Foundation; Abigail Tan, director for Corporate and Regulatory Affairs of ARQCapital Partners, Inc.; Henry Sison, founder of Agro-DigitalPH; Richard Milante, head of operations of Two Tigers Holding Corp.; and Jennifer Morante, director for Corporate and Regulatory Affairs of Magnus Renewable Tech Corp.

They shared that entrepreneurs should also promote good governance and financial transparency among their partners and stakeholders to acquire capital and should consistently reinvent and pivot their business models to see growth and scalable social impact.

“Filipino entrepreneurs can contribute concrete solutions to the ongoing climate crisis with quick, efficient, and accessible funding mechanisms, which we all want to initiate with them,” Ms. Tan of ARQCapital Partners said.

Villgro’s Ms. Thachadi, who moderated the panel discussion, said that it is important for climate entrepreneurs to create inclusive business models that promote knowledge and value of local communities to enhance climate resilience efforts and achieve the 2030 Agenda goals.

The event showcased emerging climate entreprises working across the Philippines, such as BillionBricks, Takiyo Japan, Dewaste Solutions, Sinaya Cup, Pammé, Cubo, Wear Forward, Re-Pamana, Suds, and SoilMate. Each demonstrated their innovative solutions in circular economy, waste management, sustainable fashion, and environment conservation.

Working Capital Facility

During the event, the network also reintroduced its Working Capital Facility that provides access to collateral-free working capital loans of P250,000 and above to early-stage impact enterprises in the Philippines. This reinforces its commitment to providing accessible funding to Filipino climate entrepreneurs to enable them to implement their plans and create solutions for the most pressing issues in the Philippines.

Enterprises who are operating in the Philippines for at least a year and demonstrating impact on the United Nations Sustainable Development Goals are eligible to apply. Their business must also be registered with the Bureau of Internal Revenue, Department of Trade and Industry, and Securities and Exchange Commission.

“Securing financing for social enterprises addressing climate problems is challenging in the country. Villgro and xchange, who are long-time collaborators and co-managers of the Network, find it easy to work together, along with our members, when mission and values align in the diverse spectrum of impact investing,” Ms. Thachadi shared.

To discover more about how Impact Pioneer Network supports social enterprises and its offers, visit www.impactpioneers.ph.

Proposal for ‘edible cutleries’ earns TIP students Swiss Innovation Prize

Elyza Marielle Camiguing (left) and Stanley del Rosario (right) of TIP Quezon City accepts a trophy for their team’s win in 2023 Swiss Innovation Prize “Sustainability” category.

Six aspiring engineers from the Technological Institute of the Philippines (TIP) Quezon City recently won third place in the 2023 Swiss Innovation Prize “Sustainability” category for pitching “edible cutleries” as a viable solution against plastic pollution.

Inspired by eco-friendly materials already being produced in other countries, the students collectively known as “Edgetec” submitted a research paper, exploring the possibility of turning flour into consumable utensils that could potentially replace flatware made of single-use plastics.

Team Leader Stanley del Rosario, a fourth-year Civil Engineering major, said they focused on trying to reduce plastic waste upon learning of its terrible impact on the environment. The pollution is linked to a number of diseases, and deaths of humans and marine biodiversity.

“With a simple product like ‘edible cutleries,’ we believe it can be a sustainable solution to lessen our need for single-use plastics,” Mr. Del Rosario explained. “It won’t cause a problem to the community, especially for marine animals because even if they ingest it, it is safe.”

Other students who worked on the project include Elyza Marielle Camiguing and Amiel Salvania (3rd Year, Electronics Engineering), Emmanuelle Dave Santos and Faron Jabez Nonan (2nd Year, Computer Engineering), and John Paul Fernandez (4th Year, Civil Engineering).

The paper titled “Edible Cutleries with Biodegradable Packaging as an Alternative to Single-Used Plastics” was part of their coursework for their Tech 101 Engineering and Entrepreneurship class under Assistant Professor James Paul Menina from the College of Business Education.

Mr. Del Rosario said one of their goals in pursuing the topic is to raise awareness on the harmful effects of plastic pollution. Citing data from Plastic Bank, the team noted that the Philippines is the leading contributor of plastics in the ocean despite not being its biggest producer.

“We don’t have the discipline to dispose and segregate our plastic products properly. The Philippines doesn’t [even] have a strong and concrete Waste Management Plan. All these things need to be addressed because it is putting our future generations in danger,” he added.

The team worked on the project for two months and submitted it for competition at the 2023 Swiss Innovation Prize last September. It was adjudged Top 3 in the “Sustainability” category by a panel of six judges out of 150 entries from students and professionals across the country.

The Embassy of Switzerland in the Philippines launched and organized the competition in partnership with the Swiss Cultural Fund and the Swiss Chamber of Commerce to support “new ideas that have the potential to drive economic growth and improve society.”

Mr. Del Rosario and Ms. Camiguing represented TIP Quezon City during the final stages of the pitching competition held last Nov. 22-24. They accepted a trophy and P30,000 cash prize during the awards ceremony held on the last day at the Makati Diamond Residences.

As finalists, both students were also rewarded with site visits to various participating Swiss companies and nonprofit organizations, as well as the official residence of the Swiss Ambassador to the Philippines Dr. Nicolas Brühl in Makati City, during the three-day activity.

ASTI’s HR Lite set to revamp government HR thru TECHNiCOM

Five government agencies participated in the demonstrations of ASTI’s HR Lite. Participants include the Philippine Statistics Authority, the Philippine Space Agency, the Anti-Red Tape Authority, and the local government units of Antipolo City and Maragondon, Cavite. — Photo courtesy of DoST-ASTI

The Advanced Science and Technology Institute (ASTI), under the Department of Science and Technology, initiated upgrades to HR Lite, an improvement from its enterprise resource planning (ERP) legacy system that offers customized solutions for unique human resource processes in various government agencies.

Spearheaded by Project Leader Paul John Serrano, the HR Lite software seeks to streamline and automate various HR processes while catering to the specific pain points of HR management in various government offices. These processes include the management of employee records, daily time logs, and personal data sheets.

The Technology Application and Promotion Institute (TAPI) approved HR Lite as one of its supported Technology Innovation for Commercialization (TECHNiCOM) projects to further support the project’s pre-commercialization efforts.

The HR Lite aims to address the limitations faced by government institutions in HR management, which commonly include the compartmentalization of tasks within siloed applications and the lack of integration when adapting to new laws and guidelines.

Unlike its predecessors, the HR Lite is designed as highly configurable software that can easily integrate new functions to meet the evolving needs of its users. Recent developments include the addition of audit logs, fields for agency-specific details, and the implementation of Role-Based Access Control (RBAC) for heightened security over confidential information.

Moreover, HR Lite aligns its use cases and form generation with Civil Service Commission (CSC) policies and guidelines, providing a seamless integration with existing regulatory frameworks.

Developed for fellow agencies

The HR Lite prides itself as a product of a government agency for the benefit of other agencies. With its cost-effectiveness and ease of use, HR Lite minimizes the need for extensive technical expertise and democratizes access to advanced HR solutions for even smaller government entities.

The creation of HR Lite was inspired by the team’s mission to address the challenges posed by traditional contract engagement in adopting ERP systems. The usual setup usually leads to termination of support and system implementation when the contract expires. HR Lite is poised as a solution to ensure workflow continuity and user accessibility.

“We want to make sure that this time, the system will be highly configurable so that many [can] benefit from it. At the same time, it will come with support from a private company so that support will be always available whenever adoptors need it,” Mr. Serrano said.

Technical demonstrations

The HR Lite team also conducted technical demonstrations among three government agencies, followed by a validation meeting with two local government units.

The customer satisfaction survey recorded a “Very Satisfactory” rating of 4.76, highlighting the system’s adaptability across diverse public sectors.

While the system’s development phase is complete, the team is preparing for end-user training and conducting a technology needs assessment before expanding the system’s deployment to a broader range of stakeholders.

Daddy Butch

PHOTO COURTESY OF WEE GAMBOA

IT’S CLOSE to midnight, and we’re talking with Ray Louis “Wee” Gamboa at the wake of his father last year at Arlington Memorial Chapel on Araneta Avenue in Quezon City. He and his older sister Tintin are still entertaining friends and family who trickle in even at this late hour to pay their respects to their recently departed parent. You can tell that Wee remains in awe of him as he fondly talks about his legacy.

Viewing the many framed photos of Ray Butch Gamboa at that chapel where separate urns lovingly hold his and his wife’s ashes, it becomes immediately evident that his was a life well lived.

Mr. Gamboa had covered and helped to grow and define the Philippine motoring beat along with the veterans we look up to. Hard to believe, but there was a time bereft of the sight of dedicated motoring sections. Motoring coverage in the dailies then was tucked into business pages.

Wee said he wished he knew how his father did it as a multi-hyphenate motoring personality in whatever medium you can think of. He and Tintin have big shoes to fill, Wee admitted — along with a Daddy Butch-sized hole in their hearts and, indeed, in the hearts of those who knew, loved, and respected the man who left his mortal coil late last year.

Daddy Butch.

I took to calling him that, too, and I asked Wee if he knew how his father felt about that moniker. “I think that’s accurate,” he shared recently. “And I know he was honored by that.”

Ray Butch Gamboa was a true pioneer. He started on his long-running Motoring Today (which also featured the late great motoring icon Pocholo Ramirez) before I even started my college education, and long before some of our newer colleagues now were even born. To be honest, I was a bit intimidated by the tall, well-dressed man when I first met him all those moons ago as a newbie in the motoring beat. You see, I had been in the lifestyle beat many years before I ventured into motoring. That intimidation was short-lived, and foolish. When he looked at (and not through) you and talked with you, there was nothing but respect. He was listening to what you said, and a politeness and kindness that’s rare these days underscored his manners.

Daddy Butch was also known as the Elvis of the beat, not just because he was always well-groomed with a head of hair that seemed ever in pristine place, but because he was a fan of the king of rock and roll.

Like Tintin, Mr. Gamboa was in radio, too. A piece penned by Epi Fabonan III revealed, “Sir Butch started in the media industry at a fresh age of 16 as a disc jockey for radio stations DZBM and DZLM of Mareco Broadcasting Corp. His career (in) radio also included DJ-ing for Uncle Bob Stuart’s musical show in DZXX… before capping it with his disc-jockeying tenure at ABS-CBN’s DZYL and DZQL stations. His early exposure and enduring career (in) radio are a testament to his passion for broadcasting and hosting.”

Daddy Butch was described as a “strict and perfectionist boss” while enabling his people’s creativity — and confidence — to flourish.

“I can consider him a perfectionist because that’s what he always told me. Do your best and not just ‘yung pwede na (what is acceptable). But I must say that his being a perfectionist has taught me to be on my toes all the time. He was a good teacher, in fact, he considered me his protégé. In some ways, I have now imbibed his way of thinking,” said Jenny Bleza-Pineda, who has risen from the ranks since starting out as a production assistant in 1988 to become “the invisible hand behind the show’s production and execution.”

I’m old enough to remember the days when everyone knew everyone in the motoring beat. It was a small community where you had to earn the respect and trust of older hands. Don’t get me wrong: Newbies were not expected to keep their head down, but they were counted upon to comport with a generally accepted code of conduct. And I guess we were spoiled in that we had no shortage of responsible and reputable elders to emulate. Daddy Butch was one of those we held in high regard.

I also have had the privilege of writing, as Daddy Butch did, for The Star, and that allowed me the luxury to consider myself to be at least in his proximate orbit. I noted with equal parts sadness and pride that his final column for the “Wheels” section, which ran on Nov. 17, came out when I coincidentally had a piece there as well. His column was about his perennially successful project, the Auto Focus Pre-Christmas Test Drive Festival. “Wheels” Editor Manny De Los Reyes admitted to understandably feeling drained and exhausted as he put that issue to bed knowing that it featured Daddy Butch’s final article.

With a hug and handshake, we bode Wee goodnight and mouthed our condolences, expressing our confidence he will continue to make his father proud. Daddy Butch is driving off to a better place, surely donning his best threads and that immaculately styled hair.

Thank you, good sir.

GCash eyes IPO by second half

ELECTRONIC wallet platform GCash is planning to conduct its initial public offering (IPO) by the second half of the year as the company awaits a more favorable market, its president said.

“We’re preparing internally so that we can be ready for this year; it is a question of the market,” Oscar A. Reyes, Jr., president and chief executive officer of G-Xchange, told reporters on the sidelines of a press briefing last week.

“From how it looks, the market doesn’t seem hopeful right now. I think we’re waiting for the market to recover. Hopefully by the second half,” he added.

G-Xchange is the operator of GCash. The parent firm of GCash, Globe Fintech Innovations, Inc., is an affiliate of listed telecommunications company Globe Telecom, Inc.

GCash is waiting for the market to improve, Mr. Reyes said.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said the second half may be the best time for an IPO this year, as the US Federal Reserve is widely expected to begin cutting rates by that time.

“This will certainly be a very exciting IPO. We expect strong appetite from local and foreign investors given the market-leading position and tech-themed growth story of GCash,” Mr. Colet said in a Viber message on Sunday.

The Philippine central bank is expected to cut benchmark interest rates by June to match the US Federal Reserve easing its policy rates.

However, a favorable market environment will not guarantee a successful IPO, according to Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce, who added that investors would assess the company’s performance and its growth strategy.

“The second half of 2024 could be a decent window for a GCash IPO, but it’s not guaranteed success. Careful evaluation of market conditions, GCash’s performance, and investor sentiment will be crucial for ensuring a smooth and successful listing,” Mr. Arce said. 

The current digital payments trend is also expected to drive investors’ appetite, he added.

“The ongoing trend towards digital payments and financial services could benefit GCash and appeal to investors looking for exposure to this growing market,” Mr. Arce said.

To date, GCash has over 80 million registered users. It has made over financial transactions for more than 60 million registered users. 

Mr. Reyes said the company is looking to expand its reach as it eyes to secure approvals in other markets. 

“Good news is we actually got approval to fully launch in 16 countries already,” he said.

GCash has launched its “beta version” allowing users in the UK, Italy, Australia, US, Canada, and Japan to use the electronic wallet platform.

“The next 10 countries were already approved as well. We’ll be going to the Middle East soon. As well as a couple of more countries in Europe and more in Asia as well, within the first quarter,” he said. 

Meanwhile, analysts said that Globe being a listed company will not impact GCash’s planned IPO, as some Globe investors will find the IPO attractive.

“The fact that Globe is already listed will not impact the GCash IPO. Some Globe investors might actually shift funds to GCash for better upside risk exposure,” Mr. Colet said. — Ashley Erika O. Jose

King of the hill

PHOTO FROM JAGUAR LAND ROVER — PHOTO FROM JAGUAR LAND ROVER

Land Rover PHL marks a milestone 700 units of the Defender sold

By Dylan Afuang

THE VIEW out the windshield was all just blue sky and blazing sun, as the vehicle met a three-foot mound of soil at an angle. Two rear wheels were planted on one side of the dirt; on the other, the front right wheel dangled above it. We gently applied throttle, and the view changed from blue to brown as the car’s front end met terra firma again. The SUV had tackled the mound.

This was the Land Rover Defender Experience, staged by Jaguar and Land Rover local distributor ICATS British Motors, Inc., that flexed to the media and the brand’s customers the go-anywhere abilities of the 75-year-old truck name that began life as a military vehicle. The event, staged late last year, also celebrated the premium SUV’s 700-unit sales in the country since its 2020 launch.

Through a makeshift off-road course composed of mud and gravel, mounds, a hill, and ruts the size of hatchbacks, the Defender 90 and 110 upheld their off-road reverence. The new Defender 110 Plug-In Hybrid Electric Vehicle (PHEV) was also displayed for prospective owners.

Stopping us from launching a P5-million to P6-million British SUV to orbit or toppling it upside down was the wealth of onboard gadgets allowing Defender drivers to do and see more when tackling perilous terrain.

That, and the hack given by the off-road driving instructors — one of whom was IC Land Automotive, Inc. Philippines Vice-President Chris Ward. “Grace, not pace,” they advised; we only needed to apply gentle application on the vehicles’ pedals and steering.

The first challenge highlighted the foundations of the Defender’s credentials — air suspension that raises the already towering ground clearance brought by clever chassis geometry, advanced four-wheel drive, and wheels pushed to the corners of the vehicle to enable superior clearance and departure angles.

Driving the Defender 110 over ruts flexed its axles’ ability to twist and articulate to degrees that few off-roaders can. It made short work of driving tilted on 25-degree side slopes made of gravel. The SUV’s traction control and air suspension coordinated to overcome any obstacle and just needed light accelerator presses to go forward.

When it was time to drive over logs as wide as the vehicle’s tires cross a patch of mud, the surround-view camera and its guide markers let the driver see what was ahead.

In contrast, three-door Defender 90’s regular coil spring setup could feel like a downgrade versus the air suspension, but its chassis allows for plenty of wheel articulation as it tiptoed across that mound.

Standard on both Defender body styles are that surround-view camera and hill-descent control system, which keeps the vehicles’ speed in check as they drive down, say, a 15-foot hill with a 50-degree slope.

Back at the air-conditioned event’s tent, where camping needs were displayed next to the Defender PHEV, we watched the SUVs take the ruts and slopes in stride. From here, it was easy to see why the 75-year-old SUV name is highly regarded for its premium allure and superior ruggedness.

DITO Telecommunity sets up to P30-B capex budget for 2024

DITO CME Holdings Corp. (DITO) said its telecommunications unit DITO Telecommunity Corp. is setting aside up to P30 billion for capital expenditures (capex) this year, mainly for network rollout, the company’s top official said.

“Our capex guidance should be anywhere between P25 billion and P30 billion,” Ernesto R. Alberto, DITO CME president and chief executive officer, told reporters last week.

The company is focusing on gaining its market share and commercial rollout, he said.

“We will be coming up with exciting new, differentiated products both on connectivity and broadband, mobile data, or fixed wireless.”

The company plans to launch products relevant to large, medium, and small enterprises, Mr. Alberto said.

“These are new commercial activities we are banking on in our desire to monetize the billions of dollars of investments we have in the past years,” he said.

Further, Mr. Alberto said that the company is still in discussions regarding its planned fundraising. 

In 2023, the company announced that it would hold another fundraising to secure financing for DITO Telecommunity’s projects. 

Last year, DITO Telecommunity had a commitment to allot P27 billion for capex to expand its coverage.

“Discussions are continuing, as you know telco business is capital intensive. The amounts that we have seen so far are not sufficient to make a formidable telco play in this country,” he said. 

MARKET SHARE
DITO Telecommunity has a commitment to cover 84% of the population this year.

“Our priority is to complete the 84%, then audit. Our aspiration is at the end of the year, 84% brand new network rollout,” he said.

Currently, the telecommunications company has about 10 million subscribers which Mr. Alberto said is about 10% of the market. 

“We are already 10 million now, with the sheer strength of our network we manage 10 million. If we have overall 100 million [registered users] after the SRA (SIM Registration Act) then we are at 10%. For us, the rightful share is 15-20%,” he added. 

The company is targeting to at least obtain 15-20% of the market by the end of the year, Mr. Alberto said. 

“Our aspiration is by the end of the year,” he said. — Ashley Erika O. Jose

 

Note: This story has been updated to specify that the mentioned capex is for DITO Telecommunity, a unit of DITO CME.

Meatless meatballs, compressed cardboard, and a living wage: Ikea PHL focuses on sustainable practices

BW FILE PHOTO

IKEA hits the ground running in 2024 not only with renewed sustainability practices, but also an expansion of its operations within the Philippines — but no one is promising that a new Ikea store is opening.

Last week, Ikea had a press conference at their SM Mall of Asia complex discussing their sustainability commitments that go beyond promising reduced carbon emissions but also inclusive hiring and paying above-minimum wage levels to its employees.

Angie Lat, Business Navigation and Operations Manager for Ikea Pasay City said, “The objective is to ensure that all our partners are also doing sustainability practices.”

Aside from citing their long-standing partnership with social enterprise Rags2Riches (R2R) as a sewing services partner (for which they have upcycled 4,000 kilograms of scrap fabrics and generated P7 million in revenues from Ikea), Ms. Lat also discussed other things they have made from their waste. The bulk of their waste is cardboard from their packaging (she calculates that about 65% to 70% of their waste daily comes from this). To manage such a huge amount, they use a machine that compresses the cardboard into bales. Not only does the compression process reduce the space that affects their transportation, but this process also makes it easier for their waste vendor to reuse this cardboard to make new products (brown paper bags are some). “It’s really zero-waste to landfill,” she said. Ms. Lat also cited repackaging returned or display items so that they can be bought, and used again, at reduced prices.

The company also has a partnership with electric vehicle company, Mober, moving Ikea’s 2025 33% target for electric vehicle-facilitated deliveries forward by 7.7%. In the workplace and in the store, they’ve achieved 100% conversion to energy-saving LED lighting. In the workplace, some of their lights are sensor-operated, meaning the lights go off once the room has emptied (thus saving energy). As for its restaurant operations, Ikea cites that they have recorded a 70% reduction in food waste compared to last year. They’re moving towards a goal of having 50% of the meals served at the restaurant be plant-based by 2025 (which is why the menu during the press conference included plant-based “tuna” and “meatballs”).

A LIVING WAGE
Sustainability, as a general rule, should include not only protecting the planet but also its people. According to Ikea Philippines Country HR Manager Weng Manalaysay. they aim for a 50-50 ratio between male and female workers, and at present, they enjoy a 49% women-to-men ratio. She also says that they have a permanent (not contractual) hiring policy, with workers employed on full-time or part-time basis. “We also try to… pay based on a living wage, not minimum-wage,” she said.

All of these makes sustainability sound like a very expensive chore, but Ikea Country Fulfillment Operations Manager Jarek Lesniewski emphasizes, “It’s important to share that sustainability doesn’t have extra cost.

“Even in our operations, we have a lot of samples that cost less.”

EXPANSION
Meanwhile, Ikea Pasay City Store Manager Daniel Rivero tackled the rumors of their expansion plans. “This year, it’s very difficult to say. When we talk about the size of our stores, and what we want to do, it takes time. It takes years,” he explained, pointing out that the lone (so far) store itself took five years to develop before it opened in 2021, from an initial planning stage kicked off in 2016. “What we are evaluating right now are different locations. I believe we would define (that) this year. Where is the location we want?”

He continued, “There have been rumors about Megamall. We will not deny that we are also working (with them). (However), we work in parallels which is different. The Philippines is quite big; many islands. We need to evaluate what is good and how we can do it.

“I cannot say we can open this year.”

What they are expanding are their operations in Iloilo and Davao through more efficient trucking systems, beginning on Jan. 15. Prior to this, customers in those regions were only able to buy items from Ikea’s online store that could be sent through parcel delivery, limiting purchases to smaller items. Through this innovation, those cities and their surrounding areas will be able to purchase Ikea’s entire catalogue including larger items like sofas and cabinets. Cagayan de Oro will follow suit on Feb. 1.

Patrick Marcelo, PR and Marketing Manager for Ikea said, “Right now, our focus in terms of expansion is really the online store… to really expand the reach of Ikea in the Philippines as whole.” — JL Garcia

Toyota’s PHL factory now uses 100% green energy

Philippine President Ferdinand Marcos, Jr., Toyota Motor Corp. Chairman Akio Toyoda and Toyota Motor Philippines (TMP) Chairman Alfred V. Ty visit the TMP plant in Santa Rosa, Laguna to check out the sustainable practices employed in production. — PHOTO FROM PRESIDENTIAL COMMUNICATIONS OFFICE

AS IT WORKS toward carbon neutrality, Toyota Motor Philippines Corp. (TMP), signed a Retail Supply Contract (RSC) with a local supplier to provide sustainably sourced electricity for its manufacturing operations. This move allows TMP to achieve 100% Renewable Energy (RE) ratio by supplying approximately 90% of the company’s total electricity requirement, complementing the rest of RE sourced onsite from an existing 1.46-megawatt rooftop solar power system.

The supply from Team (Philippines) Energy Corp. started last Dec. 26, 2023. Based on the RSC, every megawatt hour will be backed by an International Renewable Energy Certificate or I-REC(E), which verifies its sourcing from a domestic RE plant.

In a statement, TMP President Atsuhiro Okamoto had said, “This energy transition will neutralize TMP’s Scope 2 Emissions, particularly the indirect carbon dioxide emissions from purchased electricity for manufacturing operations. Such is a significant milestone for TMP and its mission to address climate change, making its automotive manufacturing plant in Santa Rosa City, Laguna the frontrunner and early achiever of 100% RE ratio target for Toyota in the ASEAN region.”

Until 2035, TMP is looking at decarbonizing the rest of its energy sources for manufacturing, particularly for petrol-type generators, ovens and boilers for painting processes. In 2020, Toyota globally committed that its manufacturing plants will be carbon-neutral by 2035 under the company’s overall net-zero commitment: the Toyota Environmental Challenge (TEC) 2050.

In pursuing carbon neutrality, Toyota not only sets its eyes on expanding options of accessible electrified vehicles for diversified customers but also on reducing the environmental impact of the automotive industry’s value chain through appropriate life cycle actions. Toyota actively engages its supply chain, logistics and dealer networks in decarbonization.

Doing their part in tackling the TEC 2050 in the Philippines, local Toyota suppliers and dealers have followed TMP’s lead and implemented energy efficiency and RE initiatives. To date, several companies also have undertakings to achieve the 100% RE ratio, either by investing in onsite solar power facilities and or procuring RE through the Philippine government’s Green Energy Option Program or GEOP. These companies include Denso Ten Philippines Corp., Hino Motors Philippines Corp., Denso Philippines Corp., and International Wiring Systems Philippines for suppliers, as well as Toyota Global City, Toyota Mabolo City, and Toyota Pasong Tamo for dealers.

In terms of compliance with strict environmental standards, Toyota suppliers and all established Toyota dealers nationwide (including Lexus Manila) are certified under ISO 14001, as part of Toyota environmental management systems’ (Toyota Green Purchasing Guidelines and Asia Pacific Eco-Dealership Program) mandates.

SEC warns against investing in Titan Capital Markets, Kalinga Venture Group 

THE Securities and Exchange Commission (SEC) has warned the public against investing in Titan Capital Markets and Kalinga Venture Group OPC, saying these entities are not authorized to sell securities.

In an advisory, the commission said that Titan Capital Markets/Titan Capital Markets Pty. Ltd. allegedly earns through bot trading or staking. 

The entity offers investments ranging from $100 to $3,000, promising earnings between 21% monthly for 90 days and 24% monthly for 180 days, depending on their subscription plan, it added.

Investors could also earn a 15% referral bonus and a “Titan Partners Reward” of 2% up to 10%.

The SEC said that Titan Capital Markets/Titan Capital Markets Pty Ltd. is not registered as a corporation or a partnership and has not obtained the required registration to solicit investments.

It added that the scheme employed by Titan Capital Markets/Titan Capital Markets Pty. Ltd. has characteristics of a Ponzi scheme, where “monies from new investors are used in paying ‘fake profits’ to prior investors and are designed mainly to favor its top recruiters and prior risk-takers, which is detrimental to subsequent members in case of a scarcity of new investors.”

“The Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public,” the commission said.  

At the same time, the SEC said that Kalinga Venture Group OPC/Kalinga Ventures Capital/Kalinga Venture International/Kalinga Wealth & Business Development Services allegedly offers various investment subscription plans that could earn 25% to 170% income in 9 to 40 days.

The entity claimed that its sources of income include binary trading, foreign exchange market trading, gold jewelry trading, financing, and ad revenue, it said.

The SEC said that Kalinga Venture Group OPC is registered with the government as a corporation but is not authorized to issue, sell, or offer for sale securities.

The commission also said that entities named Kalinga Ventures Capital/Kalinga Venture International/Kalinga Wealth & Business Development Services are not registered with the commission and are not authorized to offer, solicit, sell, or distribute any securities to the public. 

BusinessWorld sought the comments of the two entities but has yet to receive a response as of the deadline. — Revin Mikhael D. Ochave

Milan Fashion Week: De Sarno’s dressy looks for men at Gucci, D&G goes ‘Sleek,’ and Fendi offers informality

DOLCE & GABBANA — DOLCE GABBANA YOUTUBE CHANNEL

MILAN — Gucci creative director Sabato De Sarno kicked off Milan Fashion Week on Friday with a lineup of refined tailoring for men, adding touches of sparkle to a somber color palette for his aesthetic reset of the Kering-owned label. (Watch the fashion show here: www.gucci.com/int/en/ms/gucci-ancora-men-fall-winter-24 )

Models strode down a sparse, concrete runway on chunky-soled loafers, parading floor-sweeping overcoats with long slits up the back, double-breasted suit jackets stripped of buttons and trousers cut above the ankles.

Accessories included shiny Jackie handbags in burgundy, beige, or pea green — often clutched with matching gloves — and chunky jewelry worn over bare chests.

Mr. De Sarno’s second catwalk outing comes as products from his debut collection, presented in September, begin to fill stores, marking the label’s turn into pared-down, polished looks, a departure from the flamboyant styles of previous designer Alessandro Michele.

Show notes signed by the designer mentioned real life, irreverent glamour, and simplicity.

Mr. De Sarno’s styles hit the red carpet earlier this week, including a shimmery, floor-length gown in bright green worn by Taylor Swift at the Golden Globe Awards.

The style reset serves as the foundation of turnaround efforts overseen by longtime Kering executive Jean-Francois Palus, who has stepped in as Gucci chief executive officer.

Gucci’s outing marked the first of dozens of shows and events taking place in the Italian fashion capital through Jan. 16, including from top names like Fendi, Dolce & Gabbana, Prada, and Giorgio Armani.

It comes as the luxury industry faces slowing demand for high-end fashion due to rising costs of living, with shares of Burberry dropping sharply on Friday after the British company, which is also undergoing a brand overhaul, lowered guidance for the second time in three months.

D&G PRESENTS ‘SLEEK’ MENSWEAR COLLECTION
Italian fashion house Dolce & Gabbana presented a sharply tailored menswear collection at Milan Fashion Week on Saturday, showing long, textured coats and waist-length jackets to an audience that included Amazon founder Jeff Bezos. (Watch the show here: https://www.youtube.com/watch?v=oUe0v9zQWIc )

Entitled “Sleek,” the autumn to winter line-up was mostly black, with touches of white, grey, and denim.

In their show notes, design duo Domenico Dolce and Stefano Gabbana said the aim of the collection was to channel “the recovery of values through quality expressed in all its forms.”

As models emerged from an underground staircase, Mr. Bezos sat in the front row next to his partner Lauren Sanchez, whose son Nikko Gonzalez was on the catwalk.

South Korean singers Rowoon and Younghoon were also among those watching the show.

FENDI GOES INFORMAL
Earlier on Saturday, LVMH-owned Fendi brought a more informal look to Milan, with artistic director Silvia Venturini Fendi drawing inspiration from both urban and country life. (Watch the show here: https://www.youtube.com/watch?v=qFs2FytBv1Y)

The color palette ranged from green to grey, and plum to dark blue.

Models wore long, pleated shorts inspired by Scottish kilts paired with leather boots resembling Wellingtons, and loose trousers tweaked with pleats.

Fishermen’s coats and waterproof wax jackets added to the outdoorsy feel.

Milan’s fashion week runs through Monday and will be followed by Paris Fashion Week. — Reuters

An encounter with Bethlehem and hope

BW FILE PHOTO

It was 4 p.m. of Dec. 24, 2023, not quite a month ago now, in the wake of a refreshing afternoon merienda (afternoon snack) with sikwati (hot chocolate) and suman (rice cake) with family, that I embarked as I am wont to do on a leisurely afternoon walk at the shaded part of Plaza de Jagna. As I neared the corner facing Jagna’s St. Michael’s Church, I noticed a man, perhaps not past 40 but deeply furrowed like one past 60, cuddling a newborn baby not a day old and a woman, visibly gaunt, perhaps from labor the whole night long, seated on one of the many concrete plant boxes around the plaza.

To my surprise, they were the very same couple who, during yesterday’s version of my walk, were seated on one of the cast-iron but thankfully ergonomically designed and reasonably comfortable benches provided at the plaza; these were fortunately shaded from the sun by lush acacia, balete, and narra trees planted by generations past. (“Thank you,” I said to our ancestors as I managed to recognize that past generosity which I hope our generation doesn’t run to the ground. But if there is hope, our own past is hardly our guiding star.) The young woman was clearly in an advanced stage of pregnancy and, indeed, appeared to be having labor pains by the grimace occasionally etched on her face. The man, her husband (?), was rubbing her back trying, with little success, it appeared to me, to ease her pain.

The message was clear — there was no bed in the District Hospital just across the street from the plaza where she could have lain down and labored in some privacy. “No room in the inn,” the phrase from eons ago in Bethlehem came flashing in my mind. I thought: Yet another of the many faces of poverty in this country, which, unless blinded by the parade of pompous SUVs of the affluent few, you can’t miss despite the season’s glitter and revelry. Still, I felt helpless to intervene. My own lone grandchild, a boy, saw the light of day only six months ago and it pains me to imagine “what if” this was his and his mother’s predicament. Life is not fair. An accident of birth gives my grandson a distinct advantage I am grateful for, but does the baby now kicking in this woman’s womb deserve the severe disadvantage? Did the baby kicking in that other womb on that fateful night in Bethlehem deserve to be denied a room and to shiver in the winter in the manger?

Now the baby is out, just hours after delivery and without the usual courtesy of a rest and recovery day at the hospital. By the looks of it, they were now waiting for a ride at this corner where passengers going further east wait for public conveyance. I noted more than I did yesterday that poverty left unmistakable traces on their attire. The father wore a faded red wind breaker that is stock-in-trade in ukay-ukay (secondhand) joints, which however I hasten to confess I sometimes also patronize. He was wearing flipflops that still carried cakes of mud as he seemed to have been hailed straight from the basak (rice field) at the alarm call. I was attracted by how beautiful the small baby was; how deep in slumber in the swaddling cloth that showed only the face. Parental instinct came over me and with as wide a grin as I could muster I enquired, “Babae o lalaki?” (Boy or girl). “Babae,” (girl) was the answer. “Naa nay nga’an?” (Has it a name?) I rejoined. “Diana, Diana Ranis” was the reply. “Ah Diana, she’s so beautiful!” I muttered with a shameless exuberance that I imagine I could only manage at the sight of an angel. “Asa na man mo ‘ron?” (Where are you headed now) I persisted. “Guindulman.”

Ah, Guindulman! Guindulman is two towns removed from Jagna and further east of the capital, Tagbilaran. It is a town oft-mentioned in my own circle and oh so close to the family’s heart. For it is the birth town of my grandson’s great grandfather, Esteban Bernido. Esteban Bernido was born on the wrong side of social privilege. He was, in fact, born out of wedlock and was relegated to the fading footnotes of the annals of one leading clan of Guindulman. I can almost imagine how a similar disadvantage, only made worse by whispered social rebuke, may have attended Esteban’s birth.

As the awaited bus could materialize any minute now, I quickly ran through my pockets to fish for some valuable to gift Diana on her birthday and as a Christmas offering to the family. The only valuable I could get hold of was a crisp P500 bill. I quickly made the offer saying: “My gift to Diana.” And to Diana herself, “I love you Diana and Godspeed!” I don’t know whether the intense pulses racing through my veins connected with the sleeping soul but I hoped against hope. She is, after all, a precious bundle of exquisite neurons waiting to be pruned by pulses of love or, God forbid, its anti-thesis. However it happens, I hoped to thicken the cohort of the former.

I dread the thought of her future struggle against “kawad-on” (poverty) my late sister-in-law Marivic’s favored word for the plight of poor students whom she especially cherished at CVIF, the high school she and husband Chris, physicists of some renown both, were running in Jagna. Marivic was a teacher and principal at CVIF; her lasting legacy being that CVIF struggles tirelessly daily to overcome the horrid starting block of the children of kawad-on. Kawad-on was partly the reason for the radical “no homework policy” at CVIF — electricity which some take for granted was and still is scarce or absent in poor rural homes. The Bernido tandem’s struggle against kawad-on among CVIF students was fortunately recognized by the Ramon Magsaysay Foundation.

Thinking back, I regret that I failed to gift Diana and her family more than the crisp bill; had I doubled it, “it would not have made me poor” as my grandson’s granduncle, Chris Bernido, is wont to say when bitten by the bug of generosity which is quite often. While the P500 may afford Diana a warm blanket, neither it nor its double will provide the adequate nutrition and the education which we as a nation owe her. The sad truth is that we have shamefully left adrift 30% of our children in the desert of under-nutrition and stunting. When I rounded the corner once more, they were gone.

But there is always hope. My grandson’s great grandpa, Esteban, managed to become a World War II hero, a licensed engineer, and eventually erstwhile governor of Bohol. That baby in the manger in Bethlehem managed to bring hope to the world. Here’s hoping and praying so will Diana!

 

Raul V. Fabella is a retired professor at the UP School of Economics, a member of the National Academy of Science and Technology, and an honorary professor at the Asian Institute of Management. He gets his dopamine fix from tending flowers with wife Teena, bicycling, and assiduously courting, if with little success, the guitar.

1...2,2512,2522,253...12,700Page 2,252 of 12,700
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube