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PSA, DENR back measure on accounting system for natural resources

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AN accounting system for the countrys natural resources would produce data that would more accurately represent the countrys economic output, an official of the Philippine Statistics Authority (PSA) told a joint Senate hearing.  

PSA Assistant National Statistician Vivian R. Ilarina said the current economic framework does not cover the base value of natural resources such as mineral reserves and their subsequent use. 

In the accounting of the national accounts of the gross domestic product (GDP) and gross national income, we are not accounting for the mineral resources because [they are] capital resources, she told senators.   

You are growing economically by dismatch at the expense of the resources. They may be fully degraded but you are not accounting them,Ms. Ilarina said.   

Ms. Ilarina said natural resource calculations are possible, citing a test on physical accounting for copper, gold, nickel and chromium under the Wealth Accounting and the Valuation of Ecosystem Services (Phil-WAVES), a World Bank-led project with 89 pilot countries, including the Philippines.  

This is to test whether is it feasible to do the asset accounts we look at the, first, the inventory: what are the stocks at the start of the year and then look at the changes that affects the beginning stock and at the end of the year, you have then the closing stock,she said.   

Imagine if this is done for our forests, for our mangroves, for all minerals for even the quality of our air,Senator Lorna Regina B. Legarda, who presided over the hearing, said. 

The Senate panel is deliberating a measure that would establish an information system and accounting framework on the countrys natural inputs and outputs and its impact on the countrys economy.   

Two of the three measures filed said the proposed Philippine Ecosystem and Natural Capital Accounting System (PENCAS) will follow international standards approved by the United Nations Statistical Commission.   

According to the measures, natural capital includes air, water, soil, minerals, forests, coral reefs, seagrass beds, and all living things.  

The proposed PENCAS is under the Legislative-Executive Development Advisory Councils (LEDAC) common legislative agenda.  

These bills will more accurately reflect the true state of the nations wealth,Environment and Natural Resources Secretary Maria Antonia ToniYulo-Loyzaga told the hearing.   

It will enable strategic planning for sustainable development and climate and disaster resilience by establishing the baseline accounts for the Philippine Development Plan,she said.   

The committee will conduct another hearing in June to discuss the measure. Beatriz Marie D. Cruz

Educational support wins over indigenous communities on Tampakan mining’s potential benefits

MEMBERS of indigenous communities join a 2022 pro-responsible mining rally in Koronadal City, capital of South Cotabato where the Tampakan copper-gold project is located. — JOHN M. UNSON

FOUR more beneficiaries of a mining companys college scholarship program are now licensed teachers, an achievement that leaders of the Blaan and Tboli indigenous communities celebrate as they recognize the benefits of responsible mineral resource management.   

Im grateful to this mining company for having supported my college schooling,Shaina S. Ali, one of the new licensed teachers who belongs to an ethnic Maguindanaon Muslim clan in the town of Columbio, said on Monday.  

She was a scholar of Sagittarius Mines, Inc. (SMI), which was awarded the contract for the Tampakan copper-gold project in South Cotabato province, recognized as one of the largest untapped minefields in Southeast Asia with an estimated deposit of 15 million tons of copper and 17.6 million tons of gold.   

Part of that rich minefield are Blaan and Tboli ancestral lands.  

Our tribe had long manifested our full blessing for the SMI to explore copper and gold in our ancestral domains via a written free and full consent prepared with the help of the National Commission on Indigenous People,said Junina M. Datao, a Blaan from Tampakan who also graduated from college as an SMI scholar.  

Columbio Vice Mayor Naila M. Mamalinta said on Monday that she and members of the municipal council that she leads recognize the companys investments under its corporate social responsibility programs even before actual mining operations have commenced.   

Once operational, it can do more. Certainly, it will expand its socio-economic, health and social welfare projects here in Columbio and in three other municipalities to be covered by its operation soon,said Ms. Mamalinta, who is from a noble Maguindanaon Muslim clan.  

Sagittarius Mines President and Chief Executive Officer Roy O. Deveraturda  said in April that they are aiming to have full operations by 2026.   

The mining area covers the towns of Columbio, Kiblawan and Tampakan in South Cotabato as well as parts of Malungon in Sarangani province.  

Domingo N. Collado, Indigenous Peoples Mandatory Representative to the municipal council of Tampakan, said Monday he and other Blaan tribal leaders keep updated records indicating that Sagittarius Mines had already spent around P2 billion for its community projects.  

It has produced 737 college graduates in recent years. It has provided our barangay governments with ambulances and rescue vehicles and supported our women engaged in local trades and crafts,Mr. Collado said.  

Ms. Mamalinta, who started as chairperson of Columbios copper-rich Barangay Datalblao before becoming vice mayor, said the company also supported their local governments COVID-19 response programs, particularly for the implementation of alternative learning schemes.   

It gave several schools in Columbio radio sets that school children used for distance learning then as part of the governments COVID-19 prevention protocols,Ms. Mamalinta said.  

Dante S. Peñera, a licensed civil engineer who was also a Sagittarius Mines scholar, said the companys education support project is not just for indigenous people but has also benefitted Moros, Ilonggo, and Cebuano families who have settled in Blaan and Tboli tribal lands. John M. Unson

PHL environment agency eyes partnership with WWF on biodiversity preservation 

THE DEPARTMENT of Environment and Natural Resources (DENR) is looking to forge a partnership with international organization World Wide Fund for Nature (WWF) to strengthen the country’s efforts on biodiversity preservation. 

We must now prioritize restoration of degraded areas to prevent and reverse species loss, and work together towards investing in the regeneration of life on land and below water to achieve a nature-positive world,DENR Secretary Antonia Yulo-Loyzaga is quoted in a statement on Monday.  

I would like to extend an invitation to WWF to work with the ASEAN Center for Biodiversity, the Manila Observatory, and the DENR on climate change-related species vulnerability analysis by biogeographic region using high-resolution scenarios, and the adoption of threatened endemic species in order to move them away from the threat of extinction,she added.  

Ms. Loyzaga made the pronouncement during the 2023 WWF Annual Conference held in Puerto Princesa, Palawan on May 25 where she addressed over 150 WWF leaders from 80 countries.  

Leaders of the non-government organization who were in attendance included newly appointed WWF International President Adil Najam, Director General Kirsten Shujit, President ad interim Neville Isdell, and WWF Philippines Chairperson Maria Isabel Garcia and Executive Director Katherine Custodio.   

WWF International Board Member and former Department of Energy Secretary Vince S. Perez also attended the conference.  

Ms. Loyzaga noted that the Philippines is among the richest marine eco-regions in the world. However, it is also one of the worlds biodiversity hotspots with at least 700 threatened species.  

She also suggested to the WWF to work with the agency on innovative approaches for corporate responsibilities through the adoption of spatial finance. 

We must ensure a balance between advancing human development and protecting biodiversity, and the DENR is committed to investing in urgent and transformative change to address the intersecting crises of biodiversity loss and climate change,she said. Sheldeen Joy Talavera

Police takes steps vs private armies ahead of Oct. village elections 

PHILIPPINE STAR/EDD GUMBAN

THE POLICE has started taking steps to ensure peace and order ahead of the village and youth council elections in October as the threat of violence from private armies persists.  

“Definitely, we are taking all the measures that are possible to provide appropriate security and avoid any further attack or violence against village officials and candidates,” national police chief General Benjamin C. Acorda told a livestreamed briefing.  

The police chief said last week that the Philippine National Police (PNP) is monitoring at least 48 private armed groups that could spur violence during the election period. 

“I would like to reiterate my directive to intensify the campaign against these groups and ensure they will not be utilized in the upcoming village and youth council elections,” he said.  

Mr. Acorda gave assurance that law enforcers are well-equipped to implement crime prevention and gun control in the upcoming electoral exercise.   

The Commission on Elections (Comelec) in March set the gun ban for the local elections from Aug. 28 to Nov. 29. The campaign period will be from Oct. 19 to 28.  

Comelec had reset the filing of certificates of candidacy to Aug. 28-Sept. 2 from July 3-7 following a request from Senator Francis N. Tolentino.    

It agreed with the lawmaker, saying the deferred filing would prevent election-related violence and early “politicking.” 

President Ferdinand R. Marcos, Jr. signed a law in October last year setting the village elections on the last Monday of October 2023 and every three years thereafter. John Victor D. Ordoñez 

Senator seeks probe on pull out of children from orphanage 

A SENATOR has filed a resolution seeking to investigate the cease-and-desist order issued by the Department of Social Welfare and Development (DSWD) against an orphanage.  

While the safety and adequacy of living standards are important concerns, it is also important to determine whether or not the correct processes were followed in the removal of the children from a childcare facility subject to a cease-and-desist order,Senator Ana Theresia RisaN. Hontiveros-Baraquel said in Senate Resolution No. 643.    

Ms. Hontiveros-Baraquel was referring to the case of Gentle Hands, Inc. (GHI), an accredited social welfare agency managing the orphanage, which called the DSWDs actions traumatizing for the children. 

According to the cease-and-desist order, the GHI failed to comply with the departments minimum standards for residential facilities for children.  

The DSWD conducted a surprise visit to the orphanage following the complaint of a private individual that GHI was violating Republic Act No. 7610 or the Special Protection of Children Against Abuse, Exploitation and Discrimination Act.  

DSWD Secretary Rexlon T. Gatchalian said the orphanage only had five housemaids, and that no houseparents or social workers were present at the time. The fire exits had also been sealed or covered with metal grills, he said.   

It is imperative for the Senate to exercise the necessary oversight to check adherence to State policies and most importantly, to ensure that the best interests of the child are always upheld,Ms. Hontiveros-Baraquel said. Beatriz Marie D. Cruz  

Teves may file court case if he is expelled from Congress seat 

CONG. ARNIE A. TEVES FACEBOOK PAGE

NEGROS Oriental Rep. Arnolfo A. Teves, Jr. may take legal action if he is expelled as a member of the House of Representatives, his lawyer said on Monday. 

We will explore all legal avenues. We may go to the Supreme Court, we may go to the Ombudsman but its too early to tell,Ferdinand S. Topacio, Mr. Teveslegal counsel, told reporters. 

Meanwhile, the House Ethics Committee is looking to impose stiffer penalties on Mr. Teves for his continued no-show in Congress.  

The Committee on Ethics and Privileges unanimously decided to recommend to the plenary the imposition of a stiffer disciplinary action to our colleaguefor disorderly behavior,Committee Chairman and COOP-NATCCO Party-list Rep. Felimon M. Espares told reporters after the panels closed-door hearing on Monday.  

He said Mr. Teves has violated House Rule No. 20, which states that a member shall act at all times in a manner that shall reflect creditably on the House,and that a member shall adhere to the spirit and the letter of the Rules of the House and to the rules of the committees.”   

Mr. Espares said the rejection of Mr. Tevesrequest to attend the plenary session online was the committees decision.   

Mr. Topacio appeared in Congress onsite on Mr. Tevesbehalf, but Ethics Committee Vice-Chairperson and AKO BICOL Party-list Rep. Raul Angelo D. Bongalon said he may only take on an advisory role for his client, who must attend physically.  

Despite the call of the house leadership from the very first imposition of suspension, there was a continuing defiance on his part, Mr. Bongalon told reporters.   

We dont want to be labeled as a Congress that is consenting to this kind of disorderly behavior,he said.  

Mr. Teves was suspended for failing to report physically in Congress after his travel authority expired on March 9. The 60-day suspension expired on May 22.  

The whereabouts of Mr. Teves, who has been linked to the murder of the Negros Oriental governor, is unknown. He has cited threats against his family and himself as the reason for his refusal to appear onsite in Congress.   

Mr. Espares said the panel aims to submit its committee report on Tuesday. Beatriz Marie D. Cruz 

Consumers told to avoid buying skin whiteners with mercury content 

FILIPINO consumers have been warned against purchasing skin whiteners that have mercury content, which could cause damage to kidneys, according to local toxics watchdog EcoWaste Coalition.    

Consumers of mercury-containing creams marketed to whiten the skin and fight ageing should be aware that using such products can result in renal damage that may require costly medical treatment and hospitalization,EcoWaste Coalition National Coordinator Aileen A. Lucero said in a statement on Monday.   

The group said it issued the reminder ahead of the celebration of National Kidney Month in June.    

To protect their kidneys and their overall health, we appeal to consumers not to resort to chemical whiteners such as skin lightening creams, which are often imported, distributed and sold without the required authorization from the government, particularly from the Food and Drug Administration (FDA),Ms. Lucero said.    

According to EcoWaste Coalition, some of the mercury-added cosmetics sold online and in physical stores include Pakistan-manufactured Goree Beauty Cream with Lycopene and Goree Day & Night Beauty Cream, which was banned by the FDA in 2017 for containing mercury above the one part per million (ppm) limit.    

Aside from kidney risks, the group said mercury is considered among the “10 chemicals of major public health concernby the World Health Organization (WHO), as it could have toxic effects on the renal, nervous, digestive, immune, and integumentary systems.    

Neurological and behavioral disorders may be observed after inhalation, ingestion or dermal exposure of different mercury compounds, according to the WHO. Symptoms include tremors, insomnia, memory loss, neuromuscular effects, headaches and cognitive and motor dysfunction,the EcoWaste Coalition said. Revin Mikhael D. Ochave 

Philippine stocks rise on relief over US debt cap

BW FILE PHOTO

LOCAL EQUITIES went up on Monday on bargain hunting as the White House and Republicans in the US House of Representatives reached a deal on the debt ceiling.

The bellwether Philippine Stock Exchange index (PSEi) rose by 62.96 points or 0.96% to close at 6,593.16 on Monday, while the broader all shares index went down by 22.33 points or 0.64% to end at 3,510.41.

“The local bourse gained by 62.96 points to 6,593.16 amid positive developments on US debt ceiling deal,” Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.

“So far, [US] President Joe Biden and House Speaker Kevin McCarthy reached a tentative deal to raise the debt ceiling over the weekend. For now, this is enough to boost the optimism among investors,” Ms. Alviar added.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet likewise said in a Viber message that the PSEi climbed on bargain hunting following the debt ceiling deal.

“However, value turnover was relatively low… as many investors prefer to stay on the sidelines until a final deal is passed by the US Congress,” Mr. Colet said.

Value turnover fell to P3.29 billion on Monday with 599.74 million shares changing hands from the P4.6 billion with 1.05 billion issues traded on Friday.

US President Joseph Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4-trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote, Reuters reported.

The deal, if approved, will prevent the US government from defaulting on its debt and comes after weeks of heated negotiations between Mr. Biden and House Republicans.

Mr. McCarthy earlier on Sunday predicted he would have the support of a majority of his fellow Republicans, and House Democratic leader Hakeem Jeffries said he expected Democratic support.

The agreement would suspend the debt limit through Jan. 1, 2025, cap spending in the 2024 and 2025 budgets, claw back unused COVID funds, speed up the permitting process for some energy projects, and include extra work requirements for food aid programs for poor Americans.

The 99-page bill would authorize more than $886 billion for security spending in fiscal year 2024 and over $703 billion in non-security spending for the same year, not including some adjustments.

Back home, all sectoral indices climbed on Monday. Services gained 27.78 points or 1.82% to 1,553.66; property rose by 26.04 points or 0.96% to 2,729.49; mining and oil increased by 93.60 points or 0.92% to 10,168.71; financials climbed by 12.59 points or 0.69% to 1,828.26; holding firms jumped by 32.78 points or 0.5% to 6,572.14; and industrials inched up by 33.95 points or 0.36% to end at 9,377.11.

Advancers outnumbered decliners, 93 versus 80, while 43 names closed unchanged.

Net foreign buying stood at P143.21 million on Monday versus the P298.09 million in net selling seen on Friday. — AHH with Reuters

Peso falls after US debt deal

BW FILE PHOTO

THE PESO sank against the dollar on Monday after US President Joseph R. Biden, Jr. and House Speaker Kevin McCarthy reached a deal on the debt ceiling over the weekend, averting a potential default.

The local currency closed at P56.12 versus the dollar on Monday, weakening by 33 centavos from Friday’s P55.79 finish, data from the Bankers Association of the Philippines’ website showed.

The local unit opened Monday’s session at P55.85 per dollar, which was also its intraday best. Meanwhile, its worst showing for the day was at P56.15.

Dollars traded rose to $1.11 billion on Monday from the $986.2 million recorded on Friday.

“The peso weakened as the dollar was bolstered after US President Biden and House Speaker McCarthy reached a tentative deal on lifting the US debt ceiling,” a trader said in an e-mail.

The dollar edged down on Monday, pulling back from six-month peaks against the yen as a US debt ceiling deal lifted risk appetite across financial markets and dented the greenback’s safe-haven appeal, Reuters reported.

Mr. Biden on Sunday finalized a budget agreement with Mr. McCarthy to suspend the $31.4-trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote.

Having briefly touched a six-month high of 140.91 yen during Asia trade, the dollar drifted lower and was last down around 0.1% at 140.50 yen.

The dollar index, which measures the US unit’s value against a basket of other major currencies, was also a touch softer around 104.23 but not far from last week’s two-month peaks.

The pullback in the safe-haven dollar came as world stocks rallied on the positive news from Washington, although trade was generally subdued with parts of Europe, including Britain, on holiday. Monday was also a holiday in the United States.

The agreement would suspend the debt limit through Jan. 1, 2025, cap spending in the 2024 and 2025 budgets, claw back unused COVID funds, speed up the permitting process for some energy projects and include extra work requirements for food aid programs for poor Americans.

For Tuesday, the peso could rebound on expectations of a weaker US consumer confidence report, the trader said.

The trader sees the peso moving between P56 and P56.20 per dollar, while Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort expects it to trade from P56.05 to P56.25. — AMCS with Reuters

Japan puts missile defense on alert as NK plans satellite launch

SEOUL/TOKYO — Japan on Monday put its ballistic missile defenses on alert and warned that it would shoot down any projectile that threatened its territory after North Korea (NK) notified it of a satellite launch between May 31 and June 11.

Nuclear-armed North Korea says it has completed its first military spy satellite and leader Kim Jong Un has approved final preparations for the launch.

“The government recognizes that there is a possibility that the satellite may pass through our country’s territory,” Japan’s chief cabinet secretary, Hirokazu Matsuno, told a regular briefing after North Korea informed the Japanese coast guard of the planned launch.

The order by the Japanese defense ministry, the first in response to a North Korean space launch since 2016, comes after Japan in April dispatched to the East China Sea a destroyer carrying Standard Missile-3 (SM-3) interceptors that can hit targets in space, and sent ground-based PAC-3 missiles, designed to strike warheads closer to the ground, to the Okinawan islands.

Japan expects North Korea to fire the rocket carrying its satellite over the southwest island chain as it did in 2016, a defense ministry spokesperson said.

North Korean state media has criticized plans by its rivals, South Korea, the United States and Japan, to share real-time data on its missile launches, describing the three as discussing “sinister measures” for tightening military cooperation.

Analysts say the satellite is part of a surveillance technology program, that includes drones, meant to improve its ability to strike targets in the event of war.

Kim in May inspected a military satellite facility, the North’s KCNA state news agency reported.

North Korea has conducted a series of missile launches and weapons tests in recent months, including a new, solid-fuel intercontinental ballistic missile.

Japanese Prime Minister Fumio Kishida told reporters that any North Korean missile launch would be a serious violation of United Nations Security Council resolutions condemning its nuclear and missile activity.

“We strongly urge North Korea to refrain from launching,” his office posted on Twitter, adding it would cooperate with its US ally, South Korea and other countries, and would do all it could to collect and analyze information from any launch. — Reuters

Biden says final US debt ceiling deal ready to move to Congress

IMAGE VIA ARCHITECT OF THE CAPITOL

WASHINGTON — US President Joseph R. Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4-trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote.

“This is a deal that’s good news for … the American people,” Mr. Biden told reporters at the White House after a call with Mr. McCarthy to put the final touches to a tentative deal they struck on Saturday night.

“It takes the threat of catastrophic default off the table, protects our hard-earned and historic economic recovery,” Mr. Biden said.

The deal, if approved, will prevent the US government from defaulting on its debt and comes after weeks of heated negotiations between Mr. Biden and House Republicans.

It still needs to pass through a narrowly divided Congress before June 5, when the US Treasury says it would run short of money to cover all of its obligations.

“I strongly urge both chambers to pass that agreement,” Mr. Biden said, adding that he expected Mr. McCarthy to have the necessary votes for the deal to pass.

The deal has drawn fire from hardline Republicans and progressive Democrats, but Mr. Biden and Mr. McCarthy are banking on getting enough votes from both sides.

Mr. McCarthy earlier on Sunday predicted he would have the support of a majority of his fellow Republicans, and House Democratic leader Hakeem Jeffries said he expected Democratic support.

The agreement would suspend the debt limit through January 1 of 2025, cap spending in the 2024 and 2025 budgets, claw back unused COVID funds, speed up the permitting process for some energy projects and include extra work requirements for food aid programs for poor Americans.

The 99-page bill would authorize more than $886 billion for security spending in fiscal year 2024 and over $703 billion in non-security spending for the same year, not including some adjustments. It would also authorize a 1% increase for security spending in fiscal year 2025.

Senate Republican Leader Mitch McConnell applauded the agreement and called on the Senate to act swiftly to pass it without unnecessary delay once it has gone through the House.

“Today’s agreement makes urgent progress toward preserving our nation’s full faith and credit and a much-needed step toward getting its financial house in order,” Mr. McConnell said.

Members of the Republican hardline Freedom Caucus said they would try to prevent the agreement from passing in a House vote expected on Wednesday.

“We’re going to try,” Representative Chip Roy, a prominent Freedom Caucus member, said in a tweet.

Mr. McCarthy dismissed threats of opposition within his own party, saying “over 95%” of House Republicans were “overwhelmingly excited” about the deal.

“This is a good strong bill that a majority of Republicans will vote for,” the California Republican told reporters in the US Capitol. “You’re going to have Republicans and Democrats be able to move this to the president.” 

MCCARTHY NOT WORRIED
To win the speaker’s gavel, Mr. McCarthy agreed to enable any single House member to call for a vote to unseat him, potentially making him vulnerable to ouster by disgruntled Republicans. But he has said he is “not at all” concerned about that possibility during the debt ceiling debate.

Republicans control the House by 222-213, while Democrats control the Senate by 51-49. These narrow margins mean that moderates from both sides will have to support the bill if it is opposed by hardliners in either or both parties.

“I’m not happy with some of the things I’m hearing about,” Representative Pramila Jayapal, who chairs the Congressional Progressive Caucus, told CNN’s State of the Union.

She praised the deal that she said would save Medicaid from benefit cuts while expanding the safety net to veterans and homeless people. “We kept the student debt responsibility that we have,” she said, referring to Mr. Biden’s policy of limited loan forgiveness.

Progressive Democrats in both chambers had said they would not support any deal that had additional work requirements for government food and healthcare programs.

The deal does add work requirements to food aid for some people aged 50 to 54, but White House officials said the carefully worded text would mean that roughly the same number of people would be subject to the requirements as is the case under current law. — Reuters

Venice’s waters turn fluorescent green near Rialto Bridge

VENICE’S waters turn green due to an unknown substance near the Rialto Bridge, in Venice, Italy in this handout image released May 28, 2023. — VIGILI DEL FUOCO/HANDOUT VIA REUTERS

MILAN — The waters in Venice’s main canal turned fluorescent green on Sunday in the area near the Rialto bridge and authorities are seeking to trace the cause, Italy’s fire department said.

The regional environmental protection agency has received samples of the altered waters and is working to identify the substance that changed their color, the department said in a tweet.

The Venice prefect has called an emergency meeting of police forces to understand what happened and study possible countermeasures, the Ansa news agency reported.

The incident echoes recent episodes in Italy where environmental groups have been coloring monuments, including using vegetable charcoal to turn the waters of Rome’s Trevi fountain black in a protest against fossil fuels.

However, unlike previous cases, no activist group has come forward to claim responsibility for what happened in Venice. — Reuters

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