KUALA LUMPUR — Children around the world will face a sharp jump in heatwaves, floods and droughts in their lives compared to their grandparents, researchers said on Monday, with teenagers from Nepal to Australia urging leaders not to turn a blind eye.
Children will, on average, suffer seven times more heatwaves and nearly three times more droughts, floods and crop failures due to fast-accelerating climate change, found a report from aid agency Save the Children.
Those in low- and middle-income countries will bear the brunt, with Afghan children likely to endure up to 18 times as many heatwaves as their elders, and children in Mali likely to live through up to 10 times more crop failures.
“People are suffering, we shouldn’t turn a blind eye… Climate change is the biggest crisis of this era,” said Anuska, 15, sharing her experience of more heatwaves, intense rain and crop losses in her country, Nepal.
“I’m worried about climate change, about my future. It will almost be impossible for us to survive,” she told journalists.
Save the Children did not fully identify Anuska and others who spoke alongside her for protection reasons, it said.
The research, a collaboration between Save the Children and climate researchers at Belgium’s Vrije Universiteit Brussel, calculated the lifetime exposure to a range of extreme climate events for children born in 2020 compared to those born in 1960.
Also published in the journal Science, the study is based on emissions reduction pledges made under the 2015 Paris climate accord, projecting that global temperatures will rise by an estimated 2.6–3.1 degrees Celsius above preindustrial times.
This would have an “unacceptable impact on children,” Save the Children said.
“The climate crisis is a child rights crisis at its core,” said Inger Ashing, chief executive of Save the Children.
“We can turn this around — but we need to listen to children and jump into action. If warming is limited to 1.5 degrees, there is far more hope of a bright future for children who haven’t even been born yet,” she added.
FUTURE AT STAKE The UN climate science panel warned in August that global warming is dangerously close to spiraling out of control and will bring climate disruption globally for decades to come.
National pledges to cut emissions so far are inadequate to limit global temperature rise to “well below” 2°C above preindustrial times, and ideally to 1.5°C, as about 195 countries committed to under the 2015 Paris Agreement.
Save the Children’s report found that, if global warming is kept to 1.5°C, additional lifetime exposure of newborns to heatwaves would drop by 45% and by nearly 40% for droughts and floods compared with the current projected level.
“This is what’s at stake when governments head to the COP26 global climate talks in Glasgow in November. These children’s lives and future are all at stake,” said Erin Ryan, a report author and Save the Children advisor.
Children from the Philippines to the Solomon Islands spoke of how increasing climate disasters left them vulnerable, affecting their mental health and disrupting their education.
“I was traumatized — it was really depressing,” said Chatten from the Philippines, who was just eight when his home was destroyed by Typhoon Haiyan in 2013, one of the most powerful tropical cyclones in history that killed over 6,300 people.
“Everything was at its worst during those times — I don’t want anyone to experience that,” said the teenager, now 16.
Others said youth should pressure governments for change.
“I really want to see world leaders take action because this is putting everyone at risk,” said Ella, 14, from Australia. — Beh Lih Yi/Thomson Reuters Foundation
Facebook Inc. said body image was the only area out of 12 categories in its research into well-being issues where more teenage girls felt Instagram made things worse instead of better.
The social media giant was rebutting a Wall Street Journal report last week that called the photo-sharing app “toxic” for the group, citing a March 2020 Facebook slide presentation that showed the social media giant’s Instagram unit made body image issues worse for one in three teenage girls. It also said the same presentation showed 13% of British teens and 6% of those in the U.S. traced suicidal thoughts to the app.
Facebook said that while those dealing with body image issues felt Instagram made it worse for them, users coping with loneliness, anxiety, sadness and eating issues said the app helped in their difficult moments.
“It is simply not accurate that this research demonstrates Instagram is ‘toxic’ for teen girls,” Pratiti Raychoudhury, Facebook’s head of research, said in a post. “The majority of teenage girls who experienced body image issues still reported Instagram either made it better or had no impact.”
Facebook said that research had its limitations because it relied on input from just 40 teenagers as it sought the most negative perceptions of Instagram.
“We invest in this research to proactively identify where we can improve — which is why the worst possible results are highlighted in the internal slides,” it added.
Raychoudhury said the company has taken steps to improve its apps, including adding resources to help those dealing with body image issues. It also removed graphic content relating to suicide and added a feature to protect users from bullying. — Bloomberg
LONDON — The COVID-19 (coronavirus disease 2019) pandemic reduced life expectancy in 2020 by the largest amount since World War Two, according to a study published on Monday by Oxford University, with the life expectancy of American men dropping by more than two years.
Life expectancy fell by more than six months compared with 2019 in 22 of the 29 countries analyzed in the study, which spanned Europe, the United States and Chile. There were reductions in life expectancy in 27 of the 29 countries overall.
The university said most life expectancy reductions across different countries could be linked to official COVID-19 deaths. There have been nearly 5 million reported deaths caused by the new coronavirus so far, a Reuters tally shows.
“The fact that our results highlight such a large impact that is directly attributable to COVID-19 shows how devastating a shock it has been for many countries,” said Dr. Ridhi Kashyap, co-lead author of the paper, published in the International Journal of Epidemiology.
There were greater drops in life expectancy for men than women in most countries, with the largest decline in American men, who saw life expectancy drop by 2.2 years relative to 2019.
Overall, men had more than a year shaved off in 15 countries, compared to women in 11 countries. That wiped out the progress on mortality that had been made in the previous 5.6 years.
In the United States, the rise in mortality was mainly among those of working age and those under 60, while in Europe, deaths among people aged over 60 contributed more significantly to the increase in mortality.
Dr. Kashyap appealed to more countries, including low- and middle-income nations, to make mortality data available for further studies.
“We urgently call for the publication and availability of more disaggregated data to better understand the impacts of the pandemic globally,” she said. — Victor Jack/Reuters
TORONTO — Canada’s “eyes are wide open” when it comes to normalizing its relationship with China, Foreign Minister Marc Garneau said on Sunday, two days after the release of a Huawei executive following almost three years of house arrest in Vancouver.
Huawei Technologies Co. Ltd. Chief Financial Officer Meng Wanzhou, the daughter of Huawei founder Ren Zhengfei, flew back to China on Friday after reaching an agreement with US prosecutors to end a bank fraud case against her. That resulted in the scrapping of her extradition battle in a Canadian court.
Soon after Meng flew to China, Michael Kovrig and Michael Spavor — two Canadians detained by Chinese authorities just days after Ms. Meng’s arrest in Vancouver in December 2018 on a US warrant — were released by Beijing.
Mr. Garneau told CBC News the government is now following a fourfold approach to China: “coexist,” “compete,” “cooperate” and “challenge.”
He said Canada would compete with China on issues like trade and cooperate on climate change, while challenging it on its treatment of Uighurs, Tibetans, and Hong Kong as Ottawa has done in the past.
“Let me say, our eyes are wide open. We have been saying that for some time. There was no path to a relationship with China as long as the two Michaels were being detained,” Mr. Garneau said.
Prime Minister Justin Trudeau and Mr. Garneau received the two Canadians on Saturday when they arrived in Calgary, Alberta, after spending more than 1,000 days in solitary confinement.
Mr. Spavor was accused of supplying photographs of military equipment to Mr. Kovrig and sentenced in August to 11 years in jail. Mr. Kovrig had been awaiting sentencing.
Mr. Trudeau, who won a third term last Monday after a tight election race, had vowed to improve ties with China after becoming prime minister in 2015, building on his father’s success in establishing diplomatic ties with China in 1970.
But even before Ms. Meng’s arrest, Canada’s repeated questioning of China’s human rights positions had irked Beijing, and the two countries have failed to come closer.
China has always denied any link between Ms. Meng’s extradition case and the detention of the two Canadians, but Mr. Garneau said that “the immediate return of the two Michaels linked” it to Ms. Meng’s case in a “very direct manner.”
Mr. Garneau said he had heard about the deferred prosecution agreement (DPA) several weeks ago, which opened the door to the return of the two men.
Canadian Ambassador to the United States Kirsten Hillman denied Washington had made the release of Messrs. Kovrig and Spavor a condition for the resolution of the charges against Ms. Meng.
“Absolutely not. The DPA and the resolution of the charges against Ms. Meng was a completely independent process, and it was proceeding as it did,” Ms. Hillman told Canadian broadcaster CTV.
Mr. Garneau also said he did not think the timing of the men’s return had anything to do with that of the federal election.
ZURICH — Switzerland agreed to legalize civil marriage and the right to adopt children for same-sex couples by a nearly two-thirds majority in a referendum on Sunday, making it one of the last countries in Western Europe to legalize gay marriage.
According to results provided by the Swiss federal chancellery, 64.1% of voters voted in favor of same-sex marriage in the nationwide referendum that was conducted under Switzerland’s system of direct democracy.
“We are very happy and relieved,” said Antonia Hauswirth of the national committee “Marriage for All,” adding supporters would celebrate in Switzerland’s capital Bern on Sunday.
Amnesty International said in a statement that opening civil marriage to same-sex couples was a “milestone for equality.”
However, Monika Rueegger of Switzerland’s right-wing Swiss People’s Party (SVP) and member of the referendum committee “No to Marriage for All” said she was disappointed.
“This was not about love and feelings, it was about children’s welfare. Children and fathers are the losers here,” she told Reuters.
The amended law will make it possible for same-sex couples to get married, and to adopt children unrelated to them. Married lesbian couples will also be allowed to have children through sperm donation, currently legal only for married heterosexual couples.
It will also make it easier for foreign spouses of a Swiss individual to get citizenship.
Swiss Justice Minister Karin Keller-Sutter told a media briefing the new rules would likely come into force on July 1 next year.
In a separate referendum, 64.9% of Swiss voters rejected a proposal to introduce a capital gains tax. — Silke Koltrowitz/Reuters
Scan the Gift Color Code and enjoy three Buko Pies for free when you order a 6-pc. Chickenjoy Bucket Solo using the Jollibee App
Jollibee is offering another exclusive promo for its loyal customers by using next-generation mobile technology. As the first in the Philippines to use this latest innovation in interactive advertising, Jollibee is happy to give customers a new and exciting digital experience while using the Jollibee App.
All customers have to do is watch out for Jollibee’s latest Chickenjoy ad that features Aga Muhlach, Pia Wurtzbach, and Anne Curtis on TV. Aside from celebrating the crispylicious, juicylicious goodness of Jollibee Chickenjoy as the joy and pride of the country, the new commercial also lets viewers redeem three Buko Pies for free when they order a 6-pc. Chickenjoy Bucket.
Every time the Jollibee Chickenjoy commercial is shown on TV, viewers need to catch and scan the Gift Color Code marker that is flashed on screen using the Jollibee App’s in-app scanner. A promo coupon will then appear for customers to claim, and they can redeem this upon checkout with an order of a 6-pc. Chickenjoy Bucket Solo.
Hurry and don’t miss this chance to get a free treat along with your favorite Chickenjoy! Promo runs nationwide until September 30, 2021 only and is valid for deliveries made through the Jollibee App.
Stay tuned for more exciting interactive promos with the Jollibee Gift Color Code! For more information and to enjoy exclusive Jollibee App deals, download the app through the App Store and Google Play.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
Last Tuesday, I moderated the BusinessWorld insights panel entitled, “Saving, Spending, Investing: Achieving Financial Goals even amid a Crisis” with top financial advisors in the country – Aira Gaspar of Manulife, Kelvin Ang of AIA, Edser Trinidad of FAMI, and lawyer Loraine Saguinsin of UnionBank. Many of the things they said were intuitive but a lot were also quite shockingly conservative. In a study Ms. Gaspar shared of Gen Y and Gen Z’s financial habits during the pandemic, it was illustrated that they save more, are very prudent — with 77% buying necessities instead of wants, and are risk-averse with 82% not wanting to incur debt. Mr. Ang reiterated how, even as people save more in terms of habits and percentage, the absolute amount is still lower. The pandemic has affected all of us and has reduced our savings level. Effectively, in his study, 77% of respondents would like to save more with 74% looking for better returns, unhappy with the low interest rates of their bank deposits. Mr. Trinidad reiterated the Conservative approach wherein people are beginning to set financial buffers, and finally Ms. Saguinsin stressed on the elephant in the room of every home: wealth transition during eventualities.
This column builds on that discussion and is a reflection of whether and how to redefine financial stability for this current and future generations. I was taught and continue to teach to my OFW students in financial literacy the basic rules of saving one third of income as your first “expense,” of having six months’ nett salary sitting in a low–risk instrument as an emergency fund, as having life insurance once you have dependents, health insurance once you are financially independent, and finally creating an Excel table of long-term retirement goals the objective of which is to have enough passive income to cover today’s active income. Is that even now realistic? Is that even now achievable?
Active income, the salary earned from daily productivity has been reduced dramatically or in many cases (currently 7.7% of the population unemployed) – has been reduced to zero, not just for a month or two but for a very prolonged period of time. No productivity in the economy equals no active income. For anyone who has maintained their job, their incomes are highly unlikely to increase in the next three to five years, the expected timetable within which the top economists predict Philippine GDP will return to pre-pandemic levels. And yet inflation year-to-date still breaches 4%, and so prices of goods continue to soar while incomes are in contraction. And with interest rates at an all-time historical low, most investments are earning at negative real rates.
With active incomes no longer reliable, passive incomes cannot be grown. And even if there were an excess of capital to put in an investment, there would not exist an investment that would yield higher than the cost of the debt to finance it, with banks remaining conservative and having tight control over their non-performing loans.
All this, of course, is subject to even more pain: the relentless possibility that the emergency is no longer a surprise unprecedented event, but rather something statistically more likely to happen than not, if one is not extremely careful. How can insurers even make money these days? How can they pool the assets of their beneficiaries to spread the risk when everyone is at equal high risk? Where would the diversification happen? We may as well keep the money for ourselves, because if you think of it theoretically, as a healthy person, putting your money in an insurance fund would be funding someone at-risk today. And yet we keep thinking in our heads, insurance is a must. A tough nut to wrap my head around. We need to rethink the theoretical role of insurance when “everyone” is to be withdrawing from the insurance fund all at the same time.
All forms of financial literacy training have gone out the window in these times. When my friends ask me where they should invest their money, I must answer: keep the cash. It was the same sentiment in the event today: stay austere. Cut expenses. Focus on spending for health, the bottom of Maslow’s hierarchy of needs, stick to the basics.
And yet if we all did this, if we all decided to save instead of spend, wait for active incomes to improve before we invest, how would the economy’s wheels ever turn? Indeed, I can live for extended periods of time without shopping, without eating out, without using my car. But where would that leave the retail industry, the restaurants, the real estate sector, the banks (if indeed I never would need to borrow money)? Ultimately everything would stop and we would go back to the days pre-Adam Smith where I would do my trade and you would do yours and we self-sufficiently maintain our lives detached from a financial and market economy wherein we instead focus on our health and well-being, just another example of the failures of Capitalism.
What then is my solution? I had said this before. I had thought about it quite a lot. I had to think that my consumption and my spending benefits another person in terms of income. This income would eventually make its way back to me, whether in higher pay or dividends of a company that gets an improvement in bottom-line, or price appreciation of properties in a booming economy. And I believe that today our financial health will be more and more cyclical. Gone are the days when we would build wealth slowly to relax at the end of life. When is the end of life anyway? Is it not imminent these days? Here are the days of enjoying wealth when we can, being austere when we need to be, regaining it and losing it.
And therein lies the diversification play: when peoples’ incomes will fluctuate dramatically from plenty to little to plenty to little, we must spend in times of plenty and save in times of little to get back to plenty. A restaurant meal when I get my paycheck. A donation to the community pantry when I have spare cash. A small ayudabonus to my employees when things are better. It is psychologically liberating to look at a bank account and feel stability, and that is important. But whenever your mental health can withstand a hit, perhaps we can consider choosing to feel a little discomfort in our financial situation to contribute to someone else’s desperate need for a reprieve.
Daniela “Danie” Luz Laurel is a business journalist and anchor-producer of BusinessWorld Live on One News, formerly Bloomberg TV Philippines. Prior to this, she was a permanent professor of Finance at IÉSEG School of Management in Paris and maintains teaching affiliations at IÉSEG and the Ateneo School of Government. She has also worked as an investment banker in The Netherlands. Ms. Laurel holds a Ph.D. in Management Engineering with concentrations in Finance and Accounting from the Politecnico di Milano in Italy and an MBA from the Universidad Carlos III de Madrid.
PearlPay, an all Filipino-led fintech company, took home the third prize during the global finals of the Visa Everywhere Initiative (VEI) last Sept. 15. Started in 2015, the initiative is an open innovation program that helps startups to unlock new opportunities and gives them a global platform to demonstrate their innovative solutions. Over the past 5 years, a total of 8,500 startups had applied and have collectively raised over $2.5 billion in funding.
For VEI 2021, over 2,000 fintech and startups around the world applied. It was narrowed down to a total of 25 companies with 5 companies selected per region: Asia Pacific, Central Europe, Middle East and Africa Region (CEMEA), Latin America, North America, and Europe.
Each region held its regional finals with the winner heading to the VEI 2021 Global Finals. For the first time, a Philippine-based startup was a VEI regional winner and represented not just the Philippines but the entire Asia Pacific in the Global Finals and won 3rd place.
“This one is for the Philippines. On behalf of the entire PearlPay team, we will be relentless in our pursuit to make financial services universally accessible,” said CEO Spark Perreras in his acceptance speech.
With the rampant issue of unequal financial access, PearlPay’s work in supporting the transformation of rural banks, microfinance institutions (MFI), and cooperatives in the Philippines and Indonesia may provide accessible financial services to millions of people — helping them grow and thrive in the long run.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
“It’s so important for us to know exactly what the government wants to do — and what it really wants to do is reflected in the national budget. It’s not really in the public statements that officials make day in and day out during their press conferences,” said Zy-za Nadine Suzara, executive director of think tank Institute for Leadership, Empowerment, and Democracy (iLead).
In this B-Side episode with BusinessWorld reporter Kyle Aristophere T. Atienza, Ms. Suzara explains why the broader public should pay close attention to the ongoing budget deliberations.
TAKEAWAYS
Look at the line items.
The Department of Health’s P242 billion budget may seem like a significant sum, but according to Ms. Suzara, it’s inadequate for a proper pandemic response.
“What’s more important is not to look at the sheer numbers,” she said. “What’s more important to look at are the very specific programs that are part of it.”
Vaccines, for example, are under unprogrammed appropriations. “When it’s part of unprogrammed appropriations, … it kind of symbolizes that it’s [vaccine procurement] actually second priority.
Patronage-driven projects have been rebranded as sustainability projects.
“Patronage-driven and less strategic projects like multipurpose halls and small types of infrastructure… have been rebranded as sustainability projects under the convergence program,” said Ms. Suzara. “They’re pretty much the same. That’s definitely a cause for concern.”
The 2022 budget needs to address the public health crisis…
“If we don’t see funds for contact tracing, massive testing, boosting the public health system and providing risk allowances for health workers who are in the frontlines — as well as funds for immediately buying the vaccines — then we’re going to have a hard time containing this pandemic,” said Ms. Suzara. “And we’ll probably just see a cycle of lockdown and reopening the economy happening again and again.”
… and economic recovery.
“Build, Build, Build program projects are capital expenditures which aren’t fast disbursing,” said Ms. Suzara. “In order for government spending to make an impact on our GDP, it has to be spending for fast-disbursing things.”
Instead of spending on the “Build, Build, Build” projects, Ms. Suzara recommended focusing oncash aid, distance learning, service contracting program for public utility vehicle (PUV) drivers, support for micro, small and medium enterprises, among other programs that can help Filipinos cope with the economic impacts of the pandemic.
Wilcon Depot celebrates the successful opening of its newest retail store in Pila, Laguna, as part of its ongoing #FlyingHighTo100 store expansion campaign. Opened on September 24, 2021, the Wilcon Depot Pila is the company’s 69th retail outlet nationwide—its 5th branch in the province of Laguna.
The newly-opened store features almost 7,000 square meters of selling space, offering thousands of high-quality local and international brands and vast product selections ranging from Tiles, Sanitarywares, Plumbing, Furniture, Home Interior, Building Materials, Hardware, Electrical, Appliances, and other DIY items.
Strategically located at Purok 4 National Highway, Santa Clara Sur (Poblacion), Pila, Laguna, the store is designed to bring big ideas to more local homeowners and builders and provide an unparalleled home shopping experience. Customers can shop daily at Wilcon Depot Pila from 8:00 AM to 7:00 PM.
“We are granted once again an opportunity to serve our existing customers and reach more potential clients in Laguna, with our great selection of home improvement and building products that caters to every builder and homeowner. Building on the momentum following our consecutive store openings, we’re proud to open Wilcon Depot Pila, Laguna, as our 6th store to open this year. Our new store opening is a great addition to the company’s portfolio, allowing us to bring even more of our product offering to the Laguna province,” Wilcon Depot President and CEO Lorraine Belo-Cincochan said.
From L-R: Wilcon Depot AVP for Engineering Nicholas Agbing; Pila Municipal Vice Mayor Reggie Mhar Bote; Representative from Laguna Governor Ramil Hernandez’s Office Dennis Villavecer; Pila Municipal Mayor Edgardo Ramos; Wilcon Depot AVP for Sales and Operations Harvy Cruz; and Barangay Sta. Clara Sur Captain Myrna Ordoñes
The store was officially opened during a ribbon-cutting ceremony held in the morning. It was graced by Wilcon Depot AVP for Engineering Nicholas Agbing; Pila Municipal Vice Mayor Reggie Mhar Bote; Representative from Laguna Governor Ramil Hernandez’s Office Dennis Villavecer; Pila Municipal Mayor Edgardo Ramos; Wilcon Depot AVP for Sales and Operations Harvy Cruz; and Barangay Sta. Clara Sur Captain Myrna Ordoñes. A video conference with Wilcon Depot President and CEO Lorraine Belo-Cincochan and SEVP-COO Rosemarie Bosch-Ong was also held before the ceremony.
From top left: President and CEO Lorraine Belo-Cincochan; Wilcon Depot SEVP-COO Rosemarie Bosch-Ong; Representative from Laguna Governor Ramil Hernandez’s Office Dennis Villavecer; Pila Municipal Mayor Edgardo Ramos; and Vice Mayor Reggie Mhar Bote
Driven by its commitment to establish stores in key cities and localities across the country, Wilcon first entered the Laguna province in July 2009 for the opening of Wilcon Depot Calamba, followed by Wilcon Depot San Pablo in May 2015. The following year, Wilcon Depot Sta. Rosa was established, and Wilcon Depot Cabuyao was launched in September last year.
The newest store opening in Pila, Laguna is part of the fulfillment of the giant retailer’s continued store expansion plan wherein the company aims to have 100 stores nationwide by 2025, barring any unexpected external factors.
Wilcon now has 69 store locations nationwide, wherein 18 branches are in Metro Manila, and 51 stores are located in key cities and municipalities of Luzon, Visayas, and Mindanao. Wilcon Depot plans to open four more stores this year in Dauis, Bohol; Tagum, Davao del Norte; Calapan, Mindoro; and Malaybalay, Bukidnon.
“Despite the challenging circumstances in the current retail market, we’re thrilled to be growing our store presence here in Laguna and particularly delighted to become part of the Pila community. Our well-trained Wilcon CX Heroes are very excited to serve every valued customer that pays a visit to the store as we open our doors today,” Wilcon Depot SEVP-Chief Operating Officer Rosemarie Bosch-Ong said. “Wilcon will continue to innovate the home construction retail landscape as we fulfill our commitment of being the most reliable partner to all homeowners and builders in making their dream homes into reality,” she added.
DIY Section
Wilcon Depot Pila offers limitless home and building products and solutions. Discover the various exclusive brands and in-house brands like GROHE and KOHLER Sanitarywares, FRANKE Kitchen Systems, POZZI Bathroom Solutions, Sanitarywares, Whirlpool Bathtubs, Ceramics, and Shower Enclosures, ARISTON Water Heaters, GEBERIT Monolith Puro, MACROAIR HVLS Fans, BULL Outdoor Products, RUBI Tile Cutter, and REHAU Premium PPR pipes.
Tiles Section
Premium quality Italian tile brands such as NOVABELL, ENERGIE KER, GARDENIA, IMOLA, HERBERIA, OPERA, CASTELVETRO, KERADOM, NAXOS, DOM, and VERSACE alongside with Spanish tile brands ALCALAGRES, GRESPANIA, ROCERSA, CIFRE, EMIGRES, KEROS, TESANY, ONIX, OSET, VITACER, GRUPO HALCON, MYR, ECO CERAMICA, and ETILES are showcased in their Tile Studio.
Asian tile brands are also available like ARTE, SOL, LOLA, HUANQIU, VERONA, PICASSO MOSAIC, ROMAN, MULIA, KIA, CHINA NATURAL GRANITE, BASEL, SAIGRES, and GEMMA.
DIY Section
HERITAGE Furniture and HEIM Home Interior, Furniture, and Decor are exhibited at the Home Living Showroom. HAMDEN Kitchen Appliances, KAZE Ceiling Fans and Air conditioners, and ALPHALUX Lighting Solutions are displayed in the Appliance, Kitchen, Lighting section. HOMEBASICS and INTERDESIGN Housewares, BIRKE faucets and Bathroom Accessories, SEFA Specialty Bathroom Faucets, Bathroom Accessories, Shower Heads, and Kitchen Organizers, SUNCRUST BBQ Grills, LANDJACK Bicycles, CROWN and PRUSSIA Kitchen Sink QUARTEX Quartz Kitchen Sink, ELECTRON Generators, DIRECT HARDWARE, TRUPER Tools, P.TECH Builder’s Aid and Quartz Stone, FOREST Wood Products, IGLOO and RUBBERMAID Coolers, UNITED SOLUTIONS Outdoor trash bins, and SOLUTHERM PPR pipes and 304 stainless Steel Pipe Fittings are displayed in the DIY Section of the store.
Home Living Section
Wilcon Depot also provides the utmost customer satisfaction. It has redefined the home and building shopping experience through its Design Hub, Home Living Showroom, Tile Studio, and Architects, Builders, Contractors, Designers, and Engineers (ABCDE) Lounge, including their value-added services such as ample free parking spaces, reliable delivery service, and tile cutting service.
For a bigger and better home shopping experience, valued customers can also shop online at Wilcon by visiting shop.wilcon.com.ph. Shop for all your all-around home needs and have your items delivered right at your doorsteps or choose to pick-up in store. Online store customers can conveniently pay with their credit card, debit card, BancNet, and GCash.
To ensure a safe and convenient shopping environment in all Wilcon stores, the company continuously prioritizes the implementation of safety protocols for the health and well-being of both employees and valued customers. Wilcon also offers Browse, Call, and Collect or Deliver, and Wilcon Virtual Tour services to complement the in-store shopping experience. In addition, Wilcon provides contactless payment options like bank transfers, GCash, PayMaya, Instapay, PesoNet, WeChat, and Alipay for customers’ convenience.
Wilcon makes loyalty more rewarding for their valued customers with its loyalty program that offers exclusive perks and discounts. The Wilcon Loyalty Mobile App allows customers to earn and check their points and convert their purchases to rewards after signing up. The Wilcon Loyalty Mobile App is available for download at the Google Play Store and App Store for free.
You can also visit the other Wilcon Depot Laguna branches: Wilcon Depot Calamba at National Road, Brgy. Halang, Calamba City, Laguna; Wilcon Depot San Pablo at Doña Maria Village Phase 2, Brgy. Bagong Bayan, San Pablo City; Wilcon Depot Sta. Rosa at Tagaytay Rd. Brgy Pulong, Sta. Cruz, Sta. Rosa, Laguna; and Wilcon Depot Cabuyao at Lot 4 National Road Cor. RHB Lane Brgy. Sala, Cabuyao Laguna.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
The 120-MW GigaSol Alaminos solar farm of AC Energy is the second largest solar plant in the Philippines. It features a pioneering Sustainability Hub where the company has started to integrate the circular approach.
As climate change takes center stage as one of the world’s most pressing challenges, and countries race to transition from fossil fuels to clean energy towards the post-COVID world, AC Energy recognized the opportune time to make a difference and lead the renewable energy revolution.
The company currently has 2,100 MW of renewables capacity, on track to attain its goal of 5,000 MW of renewables capacity by 2025, and become the largest renewables platform in Southeast Asia.
Established ten years ago by Ayala Corporation to address the country’s energy needs while building a new pillar for the Ayala Group, AC Energy set out to achieve scale and profitability within five years, reaching 1,000 MW of capacity from a standing start with zero MW.
After the successful nurturing of strategic partnerships, AC Energy strategically pivoted and focused on renewables and regional expansion to take advantage of the strong government support, enabling policies, technology improvements, and cost efficiencies in the market. The company took strides to significantly increase its renewables capacity in the region while carrying out strategic acquisitions to establish development and operating capabilities.
“AC Energy managed to augment its generation portfolio substantially every year since it began in 2011,” said AC Energy President & CEO Eric Francia. “The company recognizes the need for a sustainable energy future, and we are aggressively expanding our renewables presence across the country and the region to lead the renewables revolution in the Asia Pacific.”
Today, AC Energy has evolved to become the listed energy platform and one of the core businesses of the Ayala group.
Since the shift towards renewable energy in 2016, the company embraced the culture of sustainable development and has integrated its decarbonization strategy into its business model and capital raising strategies.
In March 2020, AC Energy announced the board approval of its E&S policy, incorporating sustainability in its business and organization. At the core of the policy is the company’s transition to a low carbon portfolio and divestment of its coal plants by 2030.
Last year, while the COVID-19 pandemic led to the country’s worst recession in history and impacted healthcare and economic systems with unprecedented scale, AC Energy remained focused on its goal to be a pivotal contributor to sustainable growth and development and lead the green recovery. The company carried out the construction of its projects across the region that created over 7,000 new jobs which became vital pieces in reigniting the economy and spurring economic activity.
The turbines of the 80-MW Mui Ne wind farm carry the largest rotor diameter for an onshore project in Asia at 158 meters, the first blades to be transported in two pieces before assembly on site.
Most recently, AC Energy completed the infusion of its international assets, allowing it to be nearly halfway to its goal of reaching 5,000 MW of renewables capacity by 2025. Currently, the company has around 2,600 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share capacity of 80%, which is among the highest in the region.
In the Philippines, AC Energy began the operations of two new solar plants, the 120-MW GigaSol Alaminos and 63-MW GigaSol Palauig, and broke ground on the 72-MW Arayat-Mexico solar farm. The company is also gearing up to develop the country’s largest wind farm, the 160-MW GigaWind Pagudpud. To complement its renewable energy projects and ensure power reliability, the company is also completing its 40-MWh battery storage project in Alaminos Laguna and the 150-MW quick response thermal plant in Pililla, Rizal.
Across the region, AC Energy’s renewable energy projects reached 1,000 MW in Vietnam, operation and under construction. In India, two solar farms, the 140-MW Sitara Solar and 70-MW Paryapt Solar, began their operations, while in Australia, the company has reached financial close for the first 521-MW stage of the New England Solar Farm at Uralla in New South Wales.
To accelerate its growth further, the company completed its stock rights offering in January 2021 that raised ₱5.4 billion — followed by an ₱11.9-billion primary share investment by GIC affiliate Arran Investment and a ₱10.3-billion follow-on offering. Most recently, AC Energy successfully issued its US dollar-denominated senior guaranteed undated fixed-for-life green bonds at US$400 million. A total of US$1 billion in fresh capital was raised, which the company may use to fund its renewable energy pipeline.
“The funds will help accelerate AC Energy’s aggressive renewables expansion and enable the company to lead the green recovery. AC Energy aims to be a forerunner in the renewable energy sector and sustainable investing,” Mr. Francia said.
Partnering with communities, towards a better future
AC Energy remains committed to its vision of a sustainable future, and its commitment to sustainability is linked to its corporate strategy and vision and aligned with the UN Sustainable Development Goals. Guided by its Environmental & Social (E&S) Policy, the company’s sustainability framework is built on three focus areas embedded across its business operations, governance, and culture: having a low carbon portfolio by 2030, protecting the environment, and investing in communities.
AC Energy currently monitors and protects over 1,070 hectares of forestlands and habitats spread across the region as a steward for the environment. The company conducts biodiversity assessments periodically to determine the types of species on these project sites and their vulnerability status. Since 2018, AC Energy has invested in habitat protection and restoration programs, with over ₱48 million allocated on initiatives that aim to create a positive impact on biodiversity.
Over 700 hectares of forest land are protected under the Conservative Estate program of AC Energy.
Since AC Energy’s reforestation initiatives began in 2014, the company has planted close to 450,000 seedlings, including endemic and fruit-bearing trees. In Ilocos Norte, the company’s 700-hectare Conservation Estate has become a critical wildlife habitat in the Northern Luzon region, now home to 117 species, 33 of which are endemic, and four are classified as vulnerable. The forest protection program also features livelihood programs complemented through seedling production and agroforestry. Long-term sustainability programs anchored on excellent environmental management and biodiversity protection and social programs aim to improve lives within its host communities.
Meanwhile, to help reduce the environmental impact in its construction sites and host communities, AC Energy developed a program to use its resources sustainably and eliminate waste by reusing or recycling collected waste while also creating income and livelihood for the community.
In the Alaminos and Palauig construction sites, a total of 32,540 kg of plastic from solar panel packaging were upcycled into eco-bricks, which were then used as construction materials for the plant facilities.
The renewable energy developments of AC Energy are living examples of the company’s efforts to create shared value in the communities where it operates — ensuring renewable energy supply while strengthening community vitality.
As AC Energy moves closer to its 5,000-MW goal by 2025, the company is also committed to zero coal by 2030, as announced in March of 2020. AC Energy aligns itself with the United Nations Framework Convention on Climate Change and the Paris Agreement on reducing global carbon emissions to limit the global temperature increase to well below 1.5 degrees Celsius. AC Energy has started to develop targets and measures to help drive its sustainability agenda across the organization and with its business partners.
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Willis Towers Watson shares the secret to its successful 40 years of providing world-class advisory, broking services and business solutions
The COVID-19 pandemic has created a torrent of challenges for many businesses, from keeping their own workforces safe from infection to working around the physical restrictions necessary in the new environment.
This was how it was for advisory and broking firm Willis Towers Watson (WTW) Philippines, but it was made much worse when their head James Patrick G. Matti caught the virus as well.
Mr. Matti got infected with a severe case in March last year and was hospitalized for twenty days, five days of which was in intensive care. Looking back at his experiences in an interview, he recounted how much he started to relish the small pleasures he was given, such as the first chocolate bar he had once he finally recovered.
“It was like I was a new man. You really get to appreciate the blessings in life. I appreciated sunshine. I appreciated the well-wishes of friends and family. You really have to celebrate life,” he said.
Mr. Matti recounted how the experience has made an impact in his own life, and how it has reinforced his vision for WTW.
“The rigors of business are tough because at the end of the day you need to deliver results, specifically financial results based on the capital given by shareholders. But at the same time, you have to realize that there are more important imperatives to business.”
“My own experiences with COVID have made me far more courageous in giving honest, independent, and objective advice to our clients. Gone are the days of self-absorption where we only think of our own growth at the expense of others. At a time like this, it’s extremely critical that all boats should be rising and we should be helping one another in the true spirit of bayanihan.”
For 40 years in the Philippines, WTW has been providing business solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Utilizing market analytics and behavioral insight, the company seeks to create a unified approach to people and risk leading towards a path of growth and sustainability for its clients.
WTW has been instrumental in landmark developments such as the design and architecture of the 2015 and 2019 Salary Standardization Laws as well as the Compensation Position Classification System (CPCS) for Government Owned and Controlled Corporations (E.O. 203). The company has also worked for several high-profile clients, including the largest conglomerates, prominent multinationals and venerable institutions in the country.The success of such projects, Mr. Matti attributed to the quality of their talent and their collective vision for the company.
“At the end of the day, it’s the quality of our talent and their collective passion to make a difference in our society, with our shared end goal of uplifting the standard of living of the Filipino,” he said.
“The reason to which I would attribute our continued success in the Philippines is the fact that we have been blessed with top talent. Not only intellectually, but in the manner that they find meaning, purpose and relevance in their work, that they are out to serve our clients to hopefully resolve their issues and problems, and at the same time enhance our business so that we can become more productive and profitable, relevant to our needs and requirements.”
“It’s really our key formula. That’s the strong essence of WTW. And one hallmark that we have is that we are here for the long haul,” he added.
A legacy of excellence
A core strategy of WTW, according to Mr. Matti, has been to “walk the talk,” that is, to serve as an example of the kind of business that would both serve the needs of the Filipino people, as well as thrive in the changing industry landscape.
“We continue to be committed to not only help clients navigate through the increasing complexity and challenges brought about by the pandemic, but to allow them to be confident to face the new landscape in the post-pandemic world,” he said.
Patrick Marquina, the company’s Talent and Rewards Leader, noted that the COVID-19 pandemic has offered equal opportunities and challenges for organizations to reconsider their employee experience across the different aspects of work.
“The breadth and depth of our expertise spans across our experience of 40 years in the Philippines. We have the largest database on compensation and benefits that guide the way we partner with organizations in the Philippines to help them attract, retain and engage their employees. Supported by rich data and analytics that we have built throughout the years, we are able to advise our clients in the best way to take care of their biggest asset which is their people.
“Organizations are accelerating their technology deployment plans to ensure the survival of their business. HR is in a unique position to make a strategic impact on businesses and their workforce, and WTW can be their strategic partner to guide them through this journey and transformation,” he said.
Employee well-being has emerged as a new priority for businesses as a result of the pandemic and many companies are readjusting their strategies and programs to compensate — an area that WTW specializes in.
“The pandemic has created an opportune time for companies to focus on developing a longer-term health and well-being road map. More leaders are acknowledging that a proactive and holistic approach to strengthening the health and well-being of their workforce is required to produce a positive business impact,” Susan La Chica, Health and Benefits Leader, further noted.
“We have unparalleled experience in assisting many of the country’s largest companies in providing total benefits solutions for their employees. We partner with them in achieving a benefits program that is fit for purpose, engaging, compliant, future-ready and sustainable,” she added.
Romeo Carabeo, the company’s Retirement Leader, added that financial wellbeing is a relatively new benefit gaining ground and there is a growing realization that this is an area that should be a key component in the rollout of any benefit program for employees.
“Encouragingly for employers, there is evidence that employees want the support of their employer to help them address their financial concerns created by the pandemic. They want to better understand and be in control of their financial priorities, and maintain a resilient financial position in the future,” he said.
The response to the global COVID-19 pandemic is also shaping how companies view and manage risk, fueling the desire of WTW to develop innovative and bold solutions that can help clients strengthen their business resilience.
“Now more than ever, effective risk management is key to ensuring sustainability, security and growth of an organization. The forced change to remote working and greater reliance on technology has increased the organizations’ vulnerability to different threats such as cyber risks, and we are working with companies to manage this change effectively, protect their business and shareholders’ interests,” Mr. Matti added.
“Furthermore, as one of the world’s leading risk advisors and experts in assessing and mitigating climate risk, WTW is committed to supporting measures aimed at helping to tackle climate change. We support our clients in their need to manage climate risk as a low-carbon, resilient economy is no longer solely a matter of conscience but a strategic and financial imperative,” he emphasized.
He said that it all comes back to empathy and compassion. Being a COVID survivor himself, Mr. Matti has experienced firsthand the hardship the pandemic has brought to the Filipino people. WTW, he said, remains committed to keeping people at the core of its strategy towards a goal of creating a meaningful impact for both the country and the business.
“You really have to have empathy and compassion. At the same time, you must have the strength and the courage to make a difference, to make those decisions. In my case, as the head of the company, I have a fiduciary and moral responsibility to our people, shareholders, our clients, and our various stakeholders. I have to ensure that the decisions I make are relevant, beneficial and significant for the business. For our people, especially,” he said.
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Each region held its regional finals with the winner heading to the 
“Organizations are accelerating their technology deployment plans to ensure the survival of their business. HR is in a unique position to make a strategic impact on businesses and their workforce, and WTW can be their strategic partner to guide them through this journey and transformation,” he said.