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Greenpeace asks SEC to enforce climate disclosures 

NOEL B. PABALATE/PPA POOL

Greenpeace Philippines on Monday urged the country’s corporate regulator to enforce stronger climate accountability on companies, after the soon-to-be host of the world’s Loss and Damage Fund was hit by strong storms killed at least 150 people.

In a statement, the environmental group said guidelines on sustainability reporting and climate disclosures operate under a “comply or explain” approach, limiting accountability in terms of corporate greenhouse gas emissions.

“If a company does not comply with the guidelines or fails to meet disclosure requirements, they can provide an explanation “for items where they still have no available data,” it said.

On Tuesday, community representatives including farmers and fisherfolk from a central Philippine province that was hit by Super Typhoon Haiyan (Yolanda) in 2013 hand-delivered a letter to the Securities and Exchange Commission asking it to enforce sustainability reporting and climate-related financial disclosures for publicly listed companies.

The lack of comprehensive transparency “undermines the principle of disclosure, which is an essential component of holding companies accountable if their operations or activities contribute to the worsening of the climate crisis,” they said in a letter to SEC Chairman Emilio B. Aquino.

In an email, Ryan Jay Roset, senior legal fellow at the Legal Rights and Natural Resources Center, which provides legal support to victims of Haiyan in Eastern Samar, said the SEC is “mandated to establish a socially conscious free market, and as such should ensure businesses are accountable not only to their shareholders but to the broader public as well.”

“In the context of the climate crisis, this duty includes ensuring that corporations, most especially those in environmentally critical or carbon intensive industries such as energy, oil, gas, and mining, comply with stringent requirements on climate-related financial disclosures,” he added.

Greenpeace campaigner Virginia Benosa-Llorin, who accompanied the typhoon victims to SEC office, said the government “must concretize the responsibility of businesses in the context of the climate crisis.” — Kyle Aristophere T. Atienza

Trami-hit Bicol workers get P30M

AN AERIAL view of a flooded town in Batangas province after Tropical Storm Kristine hit Luzon in November 2024. — BW FILE PHOTO/PPA POOL/MARIANNE BERMUDEZ

THE Department of Labor and Employment (DoLE) on Tuesday said it distributed over P30.83 million in wages from Oct. 28 to Nov. 5 to the citizens of the Bicol Region affected by severe tropical storm Trami (Local name: Kristine) as part of its cash-for-work initiative.

The department aided over 7,000 workers in the region composing the provinces of Albay, Camarines Sur, Masbate, Sorsogon, and Catanduanes, it said in a statement.

According to DoLE Region 5, each beneficiary provided various community services, such as clean-up drives, community-based farming initiatives, planting of disaster-resilient crops, and repacking relief goods.

They received a daily wage of P395, depending on the number of workdays they rendered, it added.

The initiative is under the Tulong Panghanapbuhay sa Ating Disadvantaged Workers (TUPAD) program, where temporary jobs are provided for workers in 10 to 30 days in community-related tasks, especially during times of disasters and calamities.

Greenpeace Philippines dubbed Trami as the “third-[most] highly devastating weather event to batter the country this year.” — Chloe Mari A. Hufana

PAOCC official suspended

THE Marcos government has suspended an anti-crime task force official following a supposed mistreatment of a Filipino as authorities served an arrest warrant in an alleged scam hub in Bataan province.

The Office of the President ordered Presidential Anti-Organized Crime Commission (PAOCC) spokesman Winston John R. Casio to submit a written explanation after his “alleged involvement in the incident involving the mistreatment of a Filipino national on October 31, 2024 at CENTRAL ONE in Bagac, Bataan.”

“This incident occurred following the execution of a search warrant at the location is reported to have been documented, with the footage now circulating on social media platforms.

In the footage, Mr. Casio was seen slapping a worker of a Philippine offshore gaming operators (POGO) during the Oct. 31 raid.

The palace said Mr. Casio has been “relieved” of his responsibilities as PAOCC spokesman “until the completion” of its investigation.

In a statement, Mr. Casio admitted his act and said he “should have simply filed the necessary charges against the person who flashed the dirty finger at us and insulted our office with vitriol.”

“Then again, my temper got the better of me.”

Mr. Casio said the public should never associate his actions with the entire PAOCC.

“As I embark on a period of reflection during this most humbling time, I subject myself to whatever administrative measures that the Commission will impose. No matter where this episode will lead me, I will continue to serve the Filipino people in whatever capacity.”

Mr. Casio has been the face of the PAOCC as the Marcos government wages a crackdown on POGOs, which have been linked to Chinese syndicates and transnational crimes.

POGOs, which mainly cater to Chinese markets and had been widely embraced by the previous administration, have been a major headache for the Philippine government, so much so that Mr. Marcos ordered a ban in July. — Kyle Aristophere T. Atienza

More Canada-PHL flights pushed

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AIR CANADA is seeking additional direct flights between Canada and the Philippines as part of its Asia-Pacific route expansion plans, the Department of Transportation (DoTr) said.

“We are ramping up linkages with other international destinations. Our aim is to launch and expand new routes of flight networks in various parts of the world,” Transportation Secretary Jaime J. Bautista said in a media release on Tuesday.

Mr. Bautista said that the additional flights between the two countries will spur economic growth for the Philippines.

“It will contribute not only to our economic growth but also to the growth of both of our societies,” Mr. Bautista said.

Canadian Ambassador to the Philippines David Hartman has also expressed his optimism that the flight expansion will help capture the growing demand in the North American region.

To recall, the DoTr said previously that it is targeting to introduce new routes and expand flights frequencies from the Philippines to US, United Kingdom, Australia, and other countries in Asia to boost the country’s link to other destinations.

In September, the DoTr announced that Air France-KLM Group would start non-stop direct flights from Manila to Paris starting Dec. 8 to boost tourism in the two countries. — Ashley Erika O. Jose

NLRC 11 exceeds case disposal target

DAVAO CITY — An official of the National Labor Relations Commission – Regional Arbitration Branch 11 (NLRC-RAB 11) reported on Monday that NLRC 11 exceeded its 84% target for a nine-month process cycle time in case disposal from 2020 to 2024.

NLRC-RAB 11 Executive Labor Arbiter lawyer Nelia Tancio-Sedillo said that NLRC 11 has consistently met and exceeded the nine-month process cycle time.

“We have process cycle time, which is the period in which the labor arbiters were given time to resolve the cases pending before them. The maximum is nine months… because we have to acquire jurisdiction over the respondent of services of summons that it entails time to serve the summons. Mostly we serve summons by way of personal service or by mail,” Ms. Sedillo explained in mixed Filipino and English during the Kapehan sa Dabaw at SM City Davao.

Ms. Sedillo said in 2020, NLRC was able to resolve 93% of cases; 93% in 2021; 94% in 2022; 98% in 2023; and 90% as of July 2024.

For 2024, according to Ms. Sedillo, as of August 31, NLRC 11 has a total of 1,277 cases handled. Of this number, 860 were disposed of, while 417 cases are pending.

“Of course, all cases go through conciliation and mediation, whether settled or not, there are instances where the complainant will not file a position paper, because we will require the parties of a position paper in case there is no settlement during the conciliation and mediation,” she said.

Ms. Sedillo said the majority of the cases handled by NLRC 11 involves industries that include security and manpower agencies. Ms. Sedillo also said that 80% of cases lodged to NLRC 11 are illegal dismissal. — Maya M. Padillo

IT summit positions Davao City as IT-BPM hub

DAVAO CITY — An official of the Department of Information Communications Technology 11 (DICT 11) bared on Monday that the upcoming Information Technology (IT) summit in Davao City aims to position the city as a hub for the Information Technology and Business Process Management (IT-BPM) industry in the Davao Region.

Slated from November 6 to 9 at the SM Lanang Premier’s SMX Convention Center, the Regional IT Summit Expo will gather CEOs of IT-BPM firms, stakeholders, and local chief executives of the local government units (LGUs) in the region.

DICT 11 Information Technology Officer Engr. Albert Gabriel said the summit also aims to enhance the knowledge of other provinces in the region on how they can contribute to the IT industry.

“Since Davao City is the center of excellence for the IT industry, this program aims to address the stakeholders’ needs for the IT-BPM industry,” Mr. Gabriel said during the Kapehan sa Dabaw at SM City Davao.

Mr. Gabriel said that the summit will be highlighted with a learning session for opportunities related to the ICT industry and development. It will also emphasize the importance of the IT-BPM industry in the whole region.

He said the summit will put into the spotlight the Philippine Skills Framework, which aims to align the gap between the academe and the industry on what skills they need for the industry to develop ICT skills based on manpower.

DICT 11 has a partnership with ICT Davao for the ICT roadmap targeting to achieve 150 full-time employees for the IT-BPM by 2028.

“At the same time, we will be also showcasing… what is the infrastructure… needed by the local government unit or a certain city… to allow them to give a location for IT-BPM industry,” Mr. Gabriel said.

“We are looking at the contributions of technology not just in one industry but all other industries as well. That is why it’s convergent innovation and we are targeting sectors not just purely from ICT but also creatives. What’s unique about this summit is we’ve invited mostly participants from the industry and stakeholders in the academe. We have allotted a day for the academe to share on what’s the update in the academe industry,” said lawyer Ryan Lee Mesias, executive director of ICT Davao. — Maya M. Padillo

BARMM’s Regional Plan of Action for Children launched

PHILSTAR FILE PHOTO

COTABATO CITY — The Bangsamoro government launched the Regional Plan of Action for Children (RPAC), a framework for more comprehensive child welfare programs in areas devastated by decades of secessionist strife, in a symbolic rite on Monday.

Minister Raissa H. Jajurie told reporters then that the RPAC provides social workers in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and cooperating communities with adequate child welfare and rights protection insights as guides in intensifying programs for children across the autonomous region.

Ms. Jajurie officiated the launch alongside officials of the Ministry of Social Services and Development in BARMM on Monday, which also fell on the celebration of the National Children’s Month.

BARMM covers three cities and five provinces, where several towns have just started reeling off from poverty and underdevelopment caused by a drawn-out Moro uprising for self-governance that waned only after the national government had forged separate peace compacts with the Moro National Liberation Front and the Moro Islamic Liberation Front.

Bangsamoro Labor Minister Muslimin G. Sema, as well as officials of non-government humanitarian entities and the International Labour Organization, said on Tuesday that they will support the implementation of the RPAC. — John Felix M. Unson

Poll hotspots in CAR to be determined

PHILIPPINE STAR/ MIGUEL DE GUZMAN

BAGUIO CITY — Regional election officials in the highland region still have to determine which areas will become hotspots in the coming elections.

There was already a directive to election officials to identify locations possible to be dangerous to election officers, Cordillera Regional Election Officer Julius D. Torres said Tuesday.

This enables them to employ measures to ensure that the election process will go smoothly.

He further explained that they should be ready because of the possibility that some teachers will back out from serving in the polls.

During the 2023 Barangay and Sangguniang Kabataan Elections (BSKE), many teachers refused to serve Board of Election Tellers (BET), especially in some barangays in Abra who feared for their lives amid several election-related violence prior to the actual polling.

In Kalinga, some teachers also declined serving in the BSKE not because of safety concerns but out of “delicadeza” as some of them were related to the candidates.

Mr. Torres admitted they are anticipating that Abra would become dangerous because of earlier violent incidents in the past several weeks, though most have been not related to politics.

He said in such scenarios where teachers will refuse to serve, the assistance of the Philippine National Police (PNP) will be sought and deploy some of their personnel to man polling precincts in hotspots.

Comelec Cordillera Assistant Regional Director Vanessa Roncal said that they will also ask the help of the PNP and the Armed Forces of the Philippines not just to be alternative or replacement election officers, but also for security in all the polling places. — Artemio A. Dumlao

Drug trader yields in anti-narcotics raid in Ifugao

LOREN BISER-UNSPLASH

BAGUIO CITY — Philippine Drug Enforcement Agency (PDEA) aided by Lamut policemen and provincial police intelligence operatives caught a drug trader and over P10,000 worth of crystal meth (shabu) on Tuesday morning.

The 44-year-old drug trader was caught inside his own home with the shabu, said Roselle Sarmiento, spokesperson of the PDEA-Cordillera.

He will face charges for violation of Republic Act 9165 or the Comprehensive Dangerous Drugs Act of 2002, added Ms. Sarmiento.

Meanwhile, former PDEA Chief Information Officer, Director III Derrick Arnold C. Carreon took over the helm as Regional Director of the PDEA-Cordillera starting Monday. — Artemio A. Dumlao

Stocks back above 7,200 after within-target inflation

REUTERS

PHILIPPINE SHARES rebounded to the 7,200 level on Tuesday as October inflation remained within the central bank’s annual target.

The benchmark Philippine Stock Exchange index (PSEi) rose by 1.7% or 121.84 points to close at 7,257.94 on Tuesday, while the broader all shares index increased by 1.05% or 41.85 points to end at 3,993.51.

“The local market bounced back this Tuesday as inflation remained near the lower end of the government’s 2-4% target,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Philippine shares made a huge comeback as the October consumer price index came in within expectations as at 2.3%,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Headline inflation picked up to 2.3% in October from 1.9% in September, the Philippine Statistics Authority reported on Tuesday.

Still, this was slower than the 4.9% print in the same month last year. This was also within the Bangko Sentral ng Pilipinas’ (BSP) 2%-2.8% forecast for the month and a tad below the 2.4% median estimate in a BusinessWorld poll of 11 analysts.

For the first 10 months, the consumer price index averaged 3.3%, well within the BSP’s 2-4% target for the year but above its 3.1% baseline forecast.

“Wall Street slipped Monday as investors eyed the upcoming US presidential election and a potential US Federal Reserve rate cut. The 10-year Treasury yield fell to 4.3%, signaling a shift to safe assets ahead of election day,” Mr. Limlingan added.

US stock indexes were trading flat to lower on Monday, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate, Reuters reported.

Choppy trading is likely in the wait for the election outcome and due to a lack of clarity on the policy implications. Investors, meanwhile, remained largely sure of a 25-basis-point rate cut by the Fed in its November meeting, whose decision is expected on Thursday.

Back home, all sectoral indices closed higher on Tuesday. Property gained by 3.37% or 93.03 points to end at 2,849; financials climbed by 1.73% or 40.04 points to 2,351.13; industrials surged by 1.44% or 142.33 points to 9,970.31; services went up by 0.64% or 14.22 points to 2,204.98; holding firms increased by 0.63% or 38.42 points to 6,135.48; and mining and oil rose by 0.01% or 1.57 points to 8,488.76.

Value turnover increased to P4.97 billion on Tuesday with 1.03 billion shares changing hands from the P4.65 billion with 588.45 million issues traded on Monday.

Advancers outnumbered decliners, 115 versus 89, while 52 names were unchanged.

Net foreign selling dropped to P58.2 million on Tuesday from P777.98 million on Monday. — R.M.D. Ochave with Reuters

Peso inches up as market eyes US elections

BW FILE PHOTO

THE PESO inched up against the dollar on Tuesday as the market remained cautious ahead of the US election result.

The local unit closed at P58.315 per dollar on Tuesday, strengthening by 2.5 centavos from its P58.34 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session weaker at P58.43 against the dollar. Its intraday best was at P58.30, while it dropped to as low as P58.455 versus the greenback during the session.

Dollars exchanged went down to $1.15 billion on Tuesday from $1.18 billion on Monday.

“The dollar-peso saw mostly sideways trading ahead of the results of the US presidential elections,” a trader said by phone.

The dollar softened on Tuesday as traders squared positions ahead of what is expected to be a close US presidential election, while options volatility soared after recent polls dented some market bets on a victory for Republican Donald Trump, Reuters reported.

Democrat Kamala Harris has also experienced improving odds on election gambling sites and had a slight lead on PredictIt overnight, although Polymarket continued to show Mr. Trump as favorite.

In recent weeks, financial markets and some betting platforms had leaned strongly in favor of a win for Mr. Trump, whose tariff and immigration policies are considered inflationary by analysts, leading to a rise in US Treasury yields and gains for the dollar.

The US currency took a knock on Monday after a weekend opinion poll showed Ms. Harris with a surprise lead in Iowa, a traditional Republican stronghold. Overall, polls continue to show a tight race.

With hours to go until the first results were set to emerge overnight, the dollar was mostly flat against a basket of currencies.

Complicating the picture even more for traders this week is the Federal Reserve’s policy meeting on Thursday, at which the US central bank is expected to cut interest rates by a quarter point.

The peso was also supported by data released on Tuesday showing that inflation remained within the central bank’s target last month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Headline inflation picked up to 2.3% in October from 1.9% in September, the Philippine Statistics Authority reported on Tuesday.

Still, this was slower than the 4.9% print in the same month last year. This was also within the Bangko Sentral ng Pilipinas’ (BSP) 2%-2.8% forecast for the month and a tad below the 2.4% median estimate in a BusinessWorld poll of 11 analysts.

For the first 10 months, the consumer price index averaged 3.3%, well within the BSP’s 2-4% target for the year but above its 3.1% baseline forecast.

For Wednesday, the trader sees the peso moving between P58.10 and P58.50 per dollar, while Mr. Ricafort said it could range from P58.20 to P58.40. — A.M.C. Sy with Reuters

Fiber backbone phases 2, 3 seen completed by mid-2025

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

THE Department of Information and Communications Technology (DICT) said it expects the second and third phases of the National Fiber Backbone to be running by 2025.

“It is being laid out and we are anticipating that Phase 2 and Phase 3 will be up and running in the middle of next year,” Secretary Ivan John E. Uy told reporters on Tuesday.

Phase 1 of the National Fiber backbone project is a high-speed connection between Laoag, Ilocos Norte and Quezon City.

The second and third phases will cover Southern Luzon and parts of the Visayas and Mindanao, Mr. Uy said.

President Ferdinand R. Marcos, Jr. said during his third State of the Nation Address that the government will continue upgrading nationwide connectivity. 

Last month, the World Bank said it approved a $287.24-million loan to help fund Philippine infrastructure projects improving broadband connectivity. 

“With that approval, we will get funding for the remaining phases, that is phase 4, 5, and 6. That will cover mostly Mindanao and connect to the Visayas,” he said.

The backbone could be completed by 2027 instead of 2028, Mr. Uy said.

The loan will only fund part of the backbone with much of the connectivity projects for Mindanao likely supported by the national budget, he said.

The Laoag to Quezon City phase runs for 1,245 kilometers with 28 nodes. It has an initial 600 gigabits per second optical spectrum capacity that will serve the government and at least 14 provinces, and two National Government data centers, the DICT has reported. — Ashley Erika O. Jose