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What makes Parkway Corporate Center unique among other green office buildings?

One of the important lessons that the COVID-19 pandemic has reinforced is that the health and wellbeing of employees should be a top priority – because they are, after all, the backbone that keeps a company going.

An important factor in prioritizing employee wellbeing are work spaces found in green building developments. While many developers are already going towards this direction – with 35 percent of the new offices in Metro Manila seen to acquire green building certifications from 2022 to 2025, according to Colliers Philippines – Parkway Corporate Center in Filinvest City, Alabang is still a cut above the rest.

Parkway Corporate Center, a LEED-certified office building, is situated in Filinvest City, the first CBD in the country that is both a LEED Certified Neighborhood and recipient of PhilGBC BERDE 3-Star Certification.

Long before the pandemic, Parkway Corporate Center has been forward-thinking, foremost, with its location in Filinvest City, which is a LEED (Leadership in Energy and Environmental Design) Certified Neighborhood and a recipient of PhilGBC BERDE 3-Star Certification. Filinvest City is the first central business district in the Philippines, and one of the largest in SouthEast Asia to earn such recognition and surpass the world’s most rigorous sustainable neighborhood rating system.

Parkway Corporate Center’s strategic location already makes it an ideal address as it provides professionals with mobility, and easy accessibility to lifestyle and essential establishments: lifestyle centers like Festival Mall, Westgate, and Commerce Center, luxury hotels such as Crimson Hotel to essential establishments including public and private hospitals like Asian Hospital, Ospital ng Muntinlupa, and government institutions like the Research Institute for Tropical Medicine.


Spacious and fully equipped meeting rooms at Parkway Corporate Center are designed for business meetings and corporate events.

But apart from its location, Parkway Corporate Center is also progressive in its design and modern amenities. It is designed by one of the country’s top architectural firms, H1 and Design to give the building a modern look and premium to your business. Within the building, workers can enjoy its modern features and amenities which include an elegant lobby for a dignified welcome to your employees and clients, modern business centers for productive meetings and other functions, high-speed elevators, the Podium Deck Garden where employees can relax, take a quick breather, socialize, and enjoy the fresh air while getting the best view of the Filinvest City skyline.

Select unsold units at Parkway Corporate Center are available for leasing.

Now ready for occupancy, Parkway offers flexible and combinable office units to suit each business’ office space requirements or to make office expansion easier. It ranges from typical units of 36 square meters, corner units of 55 square meters to 252 square meter units. Adding to its business-friendly terms, business owners or investors may opt to fully own an office unit or lease certain unit/s at Parkway.

So for business owners or investors who are looking for office spaces that offer everything that companies and employees need to boost work productivity while supporting their health and wellbeing can find all that and more at Parkway Corporate Center.

To know more, visit parkwaycorporate.com.

 

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Pag-IBIG members save record-high P38.82B in H1 2022, up 23%; MP2 surges to P19.40B up 47%

Pag-IBIG Fund members collectively saved P38.82 billion in the first six months of the year, an increase of P7.23 billion or 23% compared to the P31.59 billion collected during the same period last year. This set a record for the highest amount saved by members with the agency for any January to June period.

“I am happy to note Pag-IBIG Fund’s excellent performance in its members’ savings collections. Our strong collections mean that we have funds to finance our programs and continue providing affordable home and cash loans for our members. This is our contribution to the call of President Ferdinand R. Marcos, Jr. to resolve the country’s housing backlog and provide a better life for Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Driving the double-digit growth is the continuing popularity of the agency’s voluntary Modified Pag-IBIG 2 (MP2) Savings. MP2 Savings amounted to a record-high P19.40 billion in the first half of the year, growing 47% from the P13.23 billion collected during the same period last year.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, meanwhile, attributes the agency’s record-high collections to the trust of members in preferring to save with Pag-IBIG Fund, and the support of the business community for the proper and on-time remittance of their employees’ Pag-IBIG Savings.

“The continued growth of our members’ savings is truly remarkable. We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees on time, and to our members for their continued trust in saving with Pag-IBIG, particularly in the MP2 Savings. Should the upward trend in our collections hold, we expect another record-high in terms of total members’ savings by the end of the year. More importantly, with our robust fiscal position, we are confident that we can continue to finance the increasing demand for our loans while keeping interest rates low. This is one of our ways of bringing Tapat na Serbisyo, Mula sa Puso to our members,” Moti said.

 

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NG debt rises to record P12.79 trillion

BW FILE PHOTO

The National Government’s (NG) outstanding debt rose to a record-high P12.79 trillion at the end of June, beating the previous high of P12.76 trillion in April.

Preliminary data from the Bureau of the Treasury (BTr) showed outstanding debt inched up by 2.4% from end-May’s P12.49 trillion “due to the net issuances of domestic and external loans as well as currency adjustments.”

Year on year, the debt stock jumped by 14.6% from P11.16 trillion.

National government outstanding debtThe BTr said the debt pile has risen by 9.1% since the year started, after the government borrowed P1.06 trillion more.

Of the outstanding debt, the bulk or 68.5% was obtained domestically, while the rest was from foreign creditors.

As of end-June, outstanding local borrowings reached P8.77 trillion, higher than the P8.67 trillion logged in May.

The BTr attributed the increase to the P96.3 billion it borrowed through government securities, as well as the P5.36 billion impact of peso depreciation against the dollar.

The peso depreciated against the greenback from P52.412 as of end-May to P54.970 as of end-June, the BTr said.

Domestic debt was 10.4% higher than the P7.94 trillion a year earlier, and 7.3% higher than the end-December 2021 level of P8.17 trillion.

Most of the domestic debt stock still came from government securities with P8.77 trillion in June, up 18.5% year on year, and 1.2% month on month.

Meanwhile, outstanding external debt jumped by 24.7% year on year to P4.02 trillion at end-June. It inched up 5.1% month on month, and increased by 13.1% from the end-December 2021 level.

Broken down, it consisted of P1.8 trillion in foreign loans and P2.23 trillion in global bonds.

“The increment in external debt was attributed to the impact of local currency depreciation against the USD amounting to P186.94 billion and the net availment of external financing amounting to P43.18 billion; offsetting the P35.72 billion effect of net depreciation against the US dollar on third-currency denominated obligations,” the Treasury said.

Meanwhile, overall guaranteed debt rose month on month by 3.6% to P413.93 billion as of end-June, but 5.6% lower than the P438.6 billion as of June 2021.

This was attributed to P9.34 billion in net availment of domestic guarantees and the impact of local currency depreciation amounting to P10.44 billion.

“These offset the effect of third-currency fluctuations amounting to P4.60 billion and net repayments on external guarantees amounting to P0.97 billion,” the BTr said.

The government borrows from local and external sources to help fund a budget deficit capped at P1.65 trillion this year, equivalent to 7.6% of gross domestic product.

The country’s debt level reached 63.5% of gross domestic product (GDP) at the end of the first quarter, from 54.6% as of end-2020 and 39.6% as of-end 2019.

It is expected to steadily drop to 61.8% by end-2022, and to 52.5% by 2028. — Diego Gabriel C. Robles

BSP ready to act as inflation seen below 4% in 2023

REUTERS

MANILA – The governor of the Philippine central bank on Friday reiterated its readiness to act to combat inflation, which it said could fall below 4% next year.

At a business forum, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said there was a chance for inflation to return within the central bank’s 2-4% target next year despite data showing the consumer price index rose to a near four-year high in July. — Reuters

Pelosi visits Japan after Taiwan trip sparked outsized military drills by Beijing

TOKYO – US House of Representatives Speaker Nancy Pelosi will meet Japanese officials in Tokyo on Friday, following a visit to Taiwan that Beijing answered with unprecedented military drills and missile launches including five that landed within Japan‘s exclusive economic zone.

Ms. Pelosi’s brief trip to Taiwan, where she arrived unannounced with a congressional delegation late on Tuesday and left on Wednesday, marked the highest-level U.S. visit to the self-ruled island, which China claims as its own, in 25 years.

It also came as Tokyo, one of Washington’s closest allies, has been increasingly alarmed about China’s growing might in the Indo-Pacific and the possibility that Beijing could take military action against Taiwan.

Ms. Pelosi lauded Taiwan’s democracy and pledged American solidarity. Beijing responded with military drills that a state broadcaster said would be the largest by China in the Taiwan Strait, including live firing on the waters and in the airspace around the island.

Five missiles landed in Japan‘s exclusive economic zone (EEZ), prompting Tokyo to lodge a strong protest through economic channels. Read full story

Japan, whose southernmost islands are closer to Taiwan than Tokyo, has warned that Chinese intimidation of Taiwan is an escalating national security threat. Read full story

Prime Minister Fumio Kishida’s Liberal Democratic Party (LDP) has also pledged to double military spending to 2% of GDP.

Tensions between Japan and China ramped up a notch on Thursday when China announced that a meeting between the two nations’ foreign ministers, set to take place on the sidelines of an ASEAN meeting in Cambodia, had been called off due to its displeasure with a G7 statement urging Beijing to resolve Taiwan tension peacefully. Read full story

Ms. Pelosi arrived in Japan following a visit to South Korea on Thursday, where she vowed support to denuclearize North Korea. Read full story

In Tokyo, she and Kishida met for discussions on Friday morning. She is also expected to meet her Japanese counterpart Hiroyuki Hosoda, speaker of the more powerful lower house of parliament.

While visiting Japan in May, US President Joe Biden said he would be willing to use force to defend Taiwan – a comment that appeared to stretch the limits of the US policy of “strategic ambiguity” towards the island. Read full story – Reuters

Tesla shareholders broadly follow board recommendations at annual meeting

Logo of Tesla, Inc.

Tesla Inc. shareholders voted for board recommendations on most issues at the company’s annual meeting on Thursday, including re-electing directors, approving a stock split, while rejecting proposals focused on environment and governance.

Votes on three of the 13 proposals did not follow board recommendations, according to preliminary tallies presented at the annual shareholder meeting in Austin, Texas.

Over board opposition, shareholders passed an advisory proposal that would increase investors’ ability to nominate directors.

Two board proposals – cutting directors’ terms to two years and eliminating supermajority requirements – did not receive supermajorities necessary to pass.

Dressed in black, Chief Executive Elon Musk heavily influenced the voting and spoke to an enthusiastic crowd after the vote. He owns 15.6% of Tesla, according to Refinitiv data, after selling millions of shares last year. Read full story

Investors approved a three-for-one stock split. While a split does not affect a company’s fundamentals, it could buoy the share price by making it easier for investors to own the stock.

Shareholder proposals that failed included ones arguing for endorsing the right of employees to form a union, asking the company to report its efforts in preventing racial discrimination and sexual harassment annually, as well as reporting on water risk.

A proposal asking directors to enable large and long-term stockholders or groups with at least 3% of the shares to nominate directors, cleared objections from the board. The board had earlier said a proposal like this could create opportunities for special interests to skew Tesla plans.

Mr. Musk said the company aimed to hit a production run rate of 2 million vehicles per year by the end of 2022 and would continue building factories.

Tesla has factories in California and Shanghai and is ramping up two more in Austin, Texas and Berlin. Mr. Musk said Tesla might be able to announce an additional factory this year and he expected eventually to have 10-12 so-called gigafactories. – Reuters

Twitter rejects Musk’s claims that he was hoodwinked

REUTERS

NEW YORK – Twitter Inc. on Thursday dismissed Elon Musk’s claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was “implausible and contrary to fact.”

Mr. Musk made the claims in a countersuit filed under seal last Friday, which was made public on Thursday.

“According to Musk, he — the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion merger agreement. That story is as implausible and contrary to fact as it sounds,” the filing released by Twitter on Thursday said.

Twitter‘s filing is the latest salvo in what is building up to be an increasingly acrimonious legal showdown between the world’s richest person and the social media giant.

The two sides head to trial on Oct. 17 after Mr. Musk sought to abandon his deal to acquire Twitter over what he says is a misrepresentation of fake accounts on the site.

The San Francisco-based company is trying to force Mr. Musk to follow through on the deal and accuses him of sabotaging it because it no longer served his interests.

A representative for Mr. Musk did not immediately respond to a request for comment.

In the counterclaims made public Thursday, Mr. Musk accuses Twitter of stepping up efforts to conceal the true number of its users, as the market plummeted.

“As a long bull market was coming to a close, and the tide was going out, Twitter knew that providing the Musk Parties the information they were requesting would reveal that Twitter had been swimming naked,” the counterclaims say.

Twitter counters that Mr. Musk has not “pleaded a shred of evidence” for these “fact-free” allegations.

 

‘FACT-FREE’ ALLEGATIONS

Mr. Musk also claims that “Twitter’s misrepresentations run far deeper than simply providing incorrect numbers” about its spam or false accounts.

While “Twitter touts having 238 million ‘monetizable daily active users,’ those users who actually see ads” is roughly 65 million lower, Mr. Musk says in the counterclaims.

Twitter maintains that its SEC disclosures about monetizable daily active users were accurate.

Mr. Musk, the chief executive of electric car company Tesla Inc., offered to buy Twitter for $54.20 per share in April, saying he believed in its potential as a global platform for free speech.

But he soured on Twitter as its stock price lagged his takeover bid, and began expressing skepticism that bot and spam accounts represented less than 5% of users.

Mr. Musk sought to back out on July 8 without paying a $1 billion breakup fee, citing Twitter‘s failure to provide details on bot and spam accounts. Twitter sued him four days later.

Earlier this week, Twitter issued dozens of subpoenas to banks, investors and law firms that backed Mr. Musk’s takeover bid, while Musk issued subpoenas to Twitter‘s advisers at Goldman Sachs and JP Morgan over their work. Read full story

Legal experts have said Twitter‘s requests suggested the company wanted to know why Mr. Musk turned against it, or whether he reneged on his obligation to obtain sufficient financing. – Reuters

Airlines scrap, reroute flights as China fires live missiles in drills near Taiwan

STOCK PHOTO | Image from Pixabay

SEOUL – Airlines have cancelled flights to Taipei and rerouted others to avoid airspace nearby that has been closed to civilian traffic during Chinese military exercises sparked by US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan.

China deployed scores of planes and fired live missiles near Taiwan on Thursday in its biggest-ever drills in the Taiwan Strait, set to run until noon local time (0400 GMT) on Sunday in six zones encircling much of the island. Read full story

The airspace involved is comparatively small, but the disruption from the largest military exercises by China in the area since it fired missiles off the coast in 1996 is hampering travel between Southeast Asia and Northeast Asia.

Temporary airspace closures and route changes during major military exercises occur regularly around the world.

This situation is unusual in that China’s exercises bisect Taiwan‘s claimed 12 nautical miles (22 kilometers) of territorial waters – something Taiwanese officials say challenges the international order and amount to a blockade of its sea and airspace. Read full story

Korean Air Lines Co Ltd and Singapore Airlines Ltd said they had cancelled flights to and from Taipei on Friday due to the exercises, with the Korean carrier also cancelling its Saturday flights and delaying Sunday flights.

Japan’s ANA Holdings Inc and Japan Airlines Co Ltd are still operating flights to Taipei as normal, spokespeople for the airlines said, but are avoiding the affected airspace on those flights, as well as on routes to Hong Kong and Southeast Asia.

Hong Kong’s Cathay Pacific Airways Ltd and Philippines Airlines said their flights were avoiding designated airspace zones around Taiwan, in a move that could lead to more flying time for some flights, while Vietnam’s aviation regulator warned its airlines to avoid the area. Read full story

Flight tracking service FlightRadar24 showed Taiwanese carriers China Airlines Ltd and EVA Airways Corp were still flying to and from the island as of Friday morning, as were cargo carriers FedEx Corp and United Parcel Service Inc, though avoiding the areas affected by the military drills.

Emirates, United Airlines Holdings Inc and Turkish Airlines had flights en route to Taipei on Friday morning local time, Flightradar24 showed.

Taiwan, along with mainland China and Hong Kong, is one of the few places in the world that still requires quarantine for arrivals because of COVID-19, triggering reduced demand for travel to the island that means there are far fewer flights than before the pandemic.

OPSGROUP, an aviation industry cooperative that shares information on flight risks, said the exercises would affect major routes between Southeast Asia and Northeast Asia, leading to re-routings that could take longer and burn extra fuel.

The airspace involved, however, is minor in its impact on the global aviation industry compared to the decision by most airlines to bypass overflight of other places like Russia, Ukraine, Afghanistan, North Korea, Iraq and Syria.

The avoidance of Russian airspace, for example, has led to a near four-hour increase in flight times between Finland and Japan. Read full story

Taiwan said on Wednesday it was negotiating with neighboring Japan and the Philippines to find alternative aviation routes, the official Central News Agency (CNA) reported. Read full story – Reuters

Three grain ships set to leave Ukraine; NATO chief says Russia must not win

Army soldier figurines are displayed in front of the Ukrainian and Russian flag colors background in this illustration taken, Feb. 13, 2022. — REUTERS/DADO RUVIC/ILLUSTRATION

ISTANBUL/KYIV – Three ships carrying a total of 58,041 tonnes of corn have been authorized to leave Ukrainian ports on Friday as part of a deal to unblock grain exports, as a Russian offensive forced Ukraine to cede territory in the east.

The first vessel carrying Ukrainian grain allowed to leave port since the start of the war set sail from Odesa on Monday bound for Lebanon, under a safe passage deal brokered by Turkey and the United Nations.

The Joint Coordination Centre in Istanbul, which groups Russian, Ukrainian, Turkish and UNt personnel, said two ships would leave from Chornomorsk and one from Odesa on Friday.

“The three outbound vessels are estimated to depart in the morning from their respective ports,” it said.

From Chornomorsk, the Polarnet would leave for Karasu in Turkey with 12,000 metric tons of corn and the Rojen would take 13,041 tons of corn to Teesport in Britain.

From Odesa, the Navistar would take 33,000 tons of corn to Ringaskiddy in Ireland.

The Turkish bulk carrier Osprey S, flying the flag of Liberia, was expected to arrive in Ukraine‘s Chornomorsk port on Friday, the regional administration of Odesa said. It would be the first ship to arrive at a Ukrainian port during the war.

As of Thursday afternoon, Osprey S was anchored in the Sea of Marmara, around 1 km (0.62 mile) off Istanbul’s Asian coast, along with other ships waiting to cross the Bosphorus in to the Black Sea, according to a Reuters journalist.

Russian President Vladimir Putin sent troops into Ukraine on Feb. 24, sparking the biggest conflict in Europe since World War Two and causing a global energy and food crisis. Ukraine and Russia produce about one third of global wheat and Russia is Europe’s main energy supplier.

 

EASTERN FIGHTING ‘HELL’

After five-months of fighting, Ukrainian President Volodymyr Zelenskiy this week described the pressure his armed forces were under in the eastern Donbas region as “hell”.

Moscow is seeking to control the largely Russian-speaking Donbas, comprised of Luhansk and Donetsk provinces, where pro-Moscow separatists gained control of territory after the Kremlin annexed Crimea to the south in 2014.

Mr. Zelenskiy spoke of fierce fighting around the town of Avdiivka and the fortified village of Pisky, where Kyiv has acknowledged its Russian foe’s “partial success” in recent days.

The Ukrainian military said on Thursday Russian forces had mounted at least two assaults on Pisky but had been repelled.

Ukraine has spent the last eight years fortifying defensive positions in Pisky, viewing it as a buffer zone against Russian-backed forces who control the city of Donetsk about 10 km to the southeast.

Ukrainian General Oleksiy Hromov told a news conference his forces had recaptured two villages around the eastern city of Sloviansk, but had been pushed back to the town of Avdiivka after being forced to abandon a coal mine regarded as a key defensive position.

The Russian defense ministry confirmed its offensive.

Reuters could not immediately verify either side’s assertions.

The Ukraine war has displaced millions, killed thousands of civilians, and left cities, towns and villages in rubble. Kyiv and its Western allies have accused Russian forces of targeting civilians and war crimes, charges Moscow rejects

 

NATO CHIEF WARNS PUTIN

Human rights group Amnesty International on Thursday said Ukraine was endangering civilians by basing troops in residential areas. Read full story

Mr. Zelenskiy hit back at Amnesty saying the organization was trying to “shift responsibility from the aggressor tot he victim.” Read full story

The White House said on Thursday that it expected Russian officials to try and frame Ukrainian forces for an attack on the front-line town of Olenivka last week that killed prisoners held by Moscow-backed separatists. Read full story

Russia‘s deputy UN ambassador responded in a Twitter post, saying US-made High Mobility Artillery Rocket Systems were used in the attack.

UN Secretary General Antonio Guterres said on Wednesday he will launch a fact-finding mission after Russia and Ukraine both requested an investigation. Read full story

Mr. Putin says he launched his “special military operation” in Ukraine to ensure Russian security and protect Russian-speakers in Ukraine. Kyiv and the West describe Russia‘s actions as an unprovoked imperial-style war of aggression.

NATO Secretary-General Jens Stoltenberg said on Thursday the war was the most dangerous moment for Europe since World War Two and that Russia must not be allowed to win. Read full story

Amid fears among some politicians in the West that Russia‘s ambitions may extend beyond Ukraine, Mr. Stoltenberg warned Mr. Putin that the response to such a move from the Western military alliance would be overwhelming.

“If President Putin even thinks of doing something similar to a NATO country as he has done to Georgia, Moldova or Ukraine, then all of NATO will be involved immediately,” Mr. Stoltenberg said.

The war has led previously non-aligned Finland and Sweden to seek NATO membership, with the request so far ratified by 23 of the 30 member states, including the United States. – Reuters

South Korea to launch first lunar orbiter as space bid gathers pace

STOCK PHOTO | Image by JB from Pixabay

SEOUL, Aug 5 (Reuters) – South Korea is set to launch its first lunar orbiter on Friday as it doubles down on its space programs, aiming to land a probe on the moon by 2030.

The Korea Pathfinder Lunar Orbiter, nicknamed Danuri, meaning “enjoy the Moon”, will be launched on SpaceX’s Falcon 9 rocket from Florida’s Cape Canaveral U.S. Space Force Station at 8:08 a.m. on Friday, South Korean time (2308 GMT on Thursday), South Korea‘s science ministry said.

The launch was initially scheduled for last Wednesday but delayed because of an unspecified maintenance issue with the SpaceX rocket.

“The Danuri has successfully completed all preparations for about a month, and is currently mounted on the launch vehicle,” the ministry said in a statement.

If it succeeds, South Korea will become the world’s seventh lunar explorer, and the fourth in Asia, behind China, Japan and India.

The launch comes as South Korea accelerates its space program, seeking to send a probe to the moon by 2030 and join nine countries working on the Artemis project aimed at returning to the moon by 2024. Read full story

In July, South Korea successfully held a second test launch of its domestically produced Nuri rocket, and reported its first successful launch of a solid-fuel space–launch rocket in March as part of efforts to launch spy satellites. Read full story

The 678 kg (1,495 lb) Danuri will be separated from the projectile about 40 minutes after launch, and it should begin communicating with a ground station within 60 minutes.

It will enter the moon’s orbit in December before starting a yearlong observation mission, including searching for a landing site and testing space internet technology, the ministry said.

Space launches have long been a sensitive issue on the Korean peninsula, where North Korea faces international sanctions over its nuclear-armed ballistic missile programme.

In March, North Korea called for expanding its space rocket launch site to advance its space ambitions, after South Korea and the United States accused it of testing a new intercontinental ballistic missile under the guise of launching a space vehicle. Read full story

South Korea says its space program is for peaceful and scientific purposes and any military use of the technology, such as in spy satellites, is for its defense. – Reuters

Puregold makes a move to lessen the use of plastics by its consumers

According to the World Bank and the Association of Southeast Asian Nations (ASEAN), Southeast Asian countries, including the Philippines, are throwing away billions to the ocean by continuing to use single-use plastics.

In a blog, World Bank Managing Director for Operations Axel van Trotsenburg and ASEAN Secretary-General Lim Jock Hoi said Asean states lose as much as $80 billion to $120 billion a year due to the failure to recycle plastics. This represented 95 percent of the packaging value of plastic products.

Southeast Asia has been identified as a hotspot for plastic pollution, with its rapid urbanization, rising middle class, and inadequate infrastructure for waste management. Half of the top 10 countries contributing to plastic leakage to rivers and seas are located in the region.

Recognizing the urgency of the situation, Puregold has moved to strengthen its sustainability strategy by incorporating eco-friendly practices in key aspects of its business.

“Puregold’s intent is to be a mindful company that reuses, recycles and reduces whatever resources are available and as a retailer, encourages its customers to do the same,” said Puregold President Vincent Co. “We are very much invested in doing business sustainably and help the younger generations look forward to their future.”

Puregold is encouraging customers to reduce their carbon footprint by bringing their own reusable bags or boxes when they shop.

Puregold has implemented no plastic use on Mondays in all its stores in the National Capital Region. As an incentive, the supermarket will also give Php1 cashback for every eco bag used by Perks and Tindahan Ni Aling Puring members, who can earn up to Php5 in savings for every transaction.

The program is part of a bigger goal to reduce the excessive use of plastic bags and encourage customers, particularly those who buy in bulk, to make changes in the way they consume goods and aspects related to it such as packaging, and how it can impact our planet.

For 2022, Puregold is projecting another 30% reduction on its purchases of plastic bags from a year ago.

“Aside from plastic use, Puregold’s concern is the production of single-use plastics, which requires a lot of energy and resources. It may be impossible to completely eliminate plastic from the retail industry, but we can take steps to reduce the amount we are using,” said Vincent.

With 50% or more of their customers are sari-sari store owners, and sari-sari stores being some of the biggest sources of single-use plastics and plastic products, Puregold is doing its best, through the Tindahan Ni Aling Puring program, to educate its members on the importance of lessening plastic waste.

Vincent said it is important for everyone in the industry to look at the packaging and how it can be made, used, and disposed of without damaging the environment.

“In Q3 this year, we will revive our recycling initiatives, which we started in 2019 but were temporarily halted due to the pandemic. We will once again encourage our customers to exchange their recyclable wastes for essential grocery items, in designated Puregold stores,” he said.

To date, all Puregold stores are geared toward conversion to 100% LED main lighting to reduce energy consumption. Puregold’s 135 wastewater treatment facilities are compliant with government regulations, as it also ventures into Rainwater Catchment, Gray Water re-use, and other water savings and other mitigating measures to lessen the company’s impact on water resources. Meanwhile, migration of business’ logistics requirements to optimum cross-dock operations efficiency is in position to help reduce carbon emission by an estimated 36%.

For more information, go to www.facebook.com/puregold.shopping.

 

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