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Meralco energizes new COVID-19 testing center in Makati

Continuing Meralco’s support to the Government and Private Sector’s fight against COVID 19, a new Reverse Transcription Polymerase Chain Reaction (RT-PCR) Testing Center was energized along Don Chino Roces Street, Barangay San Lorenzo, Makati City. This project involves the installation of a new metering facility, one (1) 25-kVA distribution transformer, and twenty-eight (28) meters of triplex cables. This RT-PCR Testing Center is one of the many vital COVID 19 testing and quarantine facilities in the Meralco franchise area that are given the highest priority in terms of providing safe, adequate, and reliable supply of electricity in line with the company’s thrust of assisting the government during the pandemic.  To date, more than ninety (90)COVID 19 facilities have been energized and this includes government agencies, public and private Hospitals, testing laboratories, quarantine facilities, and treatment centers.

Aussie cannabis firms go capital light as they roll into Europe

Europe could be a hard market to crack as regulations vary by country, but favorable rulings for medical marijuana and potential demand are promising factors.

A handful of small, young Australian cannabis firms are taking a chance on Europe in spite of the region’s diverse markets, hopeful that a capital-light investment strategy will diminish their risks.

Europe could be a hard market to crack as regulations vary by country, but favorable rulings for medical marijuana and potential demand are promising factors. The companies reckon that establishing an early base there and working with European partners will help them better negotiate different markets and steal a march on larger North American rivals.

Cann Group and MGC Pharmaceuticals are among many firms that have pushed into Europe, recently signing partnerships to distribute medical marijuana products and also exploring a dual-listing in the region.

Europe is much smaller than North America, already battling oversupply, but the market is a draw for Australian companies that contend with an even smaller home base.

“With prospects still limited largely to just the prescription market (in Australia), exports remain key to marijuana firms,” said Jo Paterson, founder and CEO of BOD Australia.

New South Wales-based BOD, valued at just $37 million, entered into distribution partnerships in the United Kingdom, Italy, and Netherlands last year. Its stock surged two-thirds in the period.

There are indications that regulations around cannabis will continue loosening in Europe.

A ruling in November by the European Union’s highest court that cannabidiol—the main ingredient in medical marijuana products—is not a narcotic, is crucial for their success in Europe, the companies said.

The United Nations drug agency voting weeks later to remove cannabis from the most tightly controlled category of narcotics will also help, they said.

Medical marijuana sales in Europe are expected to surge 52% by 2025, hitting $3.1 billion, according to a report by market researcher Brightfield Group and consultant Hanway Associates.

A recent short-lived Reddit-fuelled rally in cannabis stocks notwithstanding, many investors see them as long-term bets. The cannabis index has risen 30% in the past 12 months, outstripping 16% growth in the S&P 500.

CAPITAL LIGHT
Analysts have warned, however, that Europe’s regulatory landscape is complex and could be hard to navigate.

Even bigger firms such as Canopy Growth and Aurora Cannabis have found it difficult to make profits in the continent and are now scaling back investments, though they say that Europe remains a big opportunity.

“Policymakers and businesses are tackling issues including cross-border supply chains, standardizing manufacturing and laboratory practice, and prescription requirements,” said Ibrahim Said Abdeldayem, a risk consultant at Arriello.

Some countries, including Germany and the Netherlands, have well-established medical cannabis legislation. In others such as Sweden and Belgium, cannabis is strictly prohibited.

Australian companies are tackling the diverse markets with a capital-light approach: sticking to partnerships with firms that are better equipped to handle distribution and rules locally, rather than trying to build processing plants.

Cann Group, the first in Australia to receive a license to cultivate medicinal cannabis in 2017, said it will focus on Germany and Britain because those markets are expected to grow quickly.

Cann, worth roughly $150 million, is partnering with a London-based company to ensure it is well positioned when the market takes off, its chief operating officer Shane Duncan said.

“Hopefully (Australian investments) will be more thoughtful and more strategic, with a better understanding of the limits of the market, and that it will take time,” said Jamie Schau, analyst at Brightfield.

“The important part is to get it right in each market and not treat it as a bloc.” — Shruti Sonal/Reuters

DENR lauds FDC Misamis’ carbon sink program

The Department of Environment and Natural Resources-Environmental Management Bureau -Region 10 (DENR-EMB 10) lauded FDC Misamis Power Corporation (FDC Misamis) for its steadfast efforts in maintaining its carbon sink management program (CSMP) in the province of Misamis Oriental.

In 2018, FDC Misamis inked a Memorandum of Agreement (MOA) for a Carbon Sink Project with DENR-EMB-10 and Barangay Sambulawan in El Salvador City, the power firm’s first major carbon sink project, establishing a man-made forest and help sequester carbon emission to maintain the air quality in the province.

FDC Misamis was touted to be “a show window of a successful carbon sink for coal-fired power plants in the Region,” according to a letter from the DENR EMB-10 after its most recent site inspection in January 2021.

The agency applauded the power firm for the suitability of its CSMP area, management and supervision scheme of existing forested areas, and planted species’ highly adaptive characteristics. The 80-hectare land is now home to indigenous trees such as An-an, Tipolo, Maribojoc, Bangkal, Acacia, Alim (Alum), Magtangali, Rattan, and Kalikoy, among many. Meanwhile, the additional 40 hectares were populated with Mangium and Bagras species.

The agency’s comments humbled FDC Misamis’ management.

“It is encouraging to know that the DENR-EMB 10 sees our efforts, which is more than for compliance purposes. This project, along with many other social development programs, is our way of giving back to Mindanao and is consistent with the Filinvest’s trust in making a difference in the lives of Filipinos,” says FDC Misamis President and CEO Juan Eugenio L. Roxas.

“The disruptions brought by the coronavirus pandemic in 2020 may have given the planet a halt, temporarily improving air quality worldwide. But as we move forward in this post-covid era, environmental stewardship must be at the forefront to truly mitigate greenhouse gas emissions,” Roxas added.

FDC Misamis is a subsidiary of FDC Utilities, Inc., the Gotianun-led Filinvest Development Corporation’s utilities and power arm. It operates a 3×135-MW circulating fluidized bed coal thermal plant in Villanueva town, one of Northern Mindanao’s biggest. Since its commercial operations in 2016, the facility has been supplying stable and cost-effective power. The company plays a vital role in ensuring the stability of the Mindanao grid throughout the pandemic.

Out of sight, out of mind? Remote working damages young women’s careers

LONDON — If working from home with six relatives isn’t hard enough, try doing it from a bedroom you share with your younger sister.

The perks of remote working were short-lived for 21-year-old Emma Chau whose entry to the world of work has been largely from her bedroom, after spending just one month in the office.

“I want to come across as professional but because there’s so many of us using the same WiFi, sometimes it cuts out. It’s frustrating. So I miss out on bits of meetings because my Zoom’s crashed,” said Ms. Chau, a marketing assistant.

Almost half of British employees did some work from home last year due to the coronavirus disease 2019 (COVID-19) pandemic, which has been particularly disruptive for young women from ethnic minorities who are under-represented in professional settings.

Now that chance encounters with colleagues in the cafeteria have diminished, many young people say they are struggling to find their feet in the workplace.

“When you’re in the office you can run into people when they’re making a tea or something and quickly chat about anything career-wise,” British-Chinese Ms. Chau told the Thomson Reuters Foundation.

“It was nice to be able to speak to the senior team directly and not feel like there was a barrier there. But obviously, now we’re online, it’s hard to fit into people’s schedules. I don’t want to constantly bombard them with emails.”

As a daughter of immigrants with no industry contacts, Ms. Chau is grateful to have a job at a time when one in six young people have stopped working due to the pandemic, according to the UN’s International Labour Organization (ILO).

But with six months to go before her graduate contract ends, figuring out her next career move has been daunting.

“Working from home has made things trickier in terms of getting the support to figure out what career path to take and connecting with the right people, especially coming from an under-represented group,” said Ms. Chau.

LOST TALENT’
Only 1.5% of about 3.7 million business leaders are from a Black, Asian, and Minority Ethnic (BAME) background, according to a 2020 report by the Trades Union Congress, a federation representing unions in England and Wales, although ethnic minorities account for 14% of the population.

Climbing the career ladder is hard for many young BAME workers who tend to rely on the physical workplace to network, said Nike Folayan, co-founder of the Association For Black and Minority Ethnic Engineers.

“It’s more difficult in a virtual world. You haven’t got the contacts and reaching out to people is really difficult,” said Ms. Folayan, who has been an engineer for nearly two decades.

“People don’t talk to you if they don’t need to. The opportunity for growth and progression has really reduced.”

Young workers are also missing out on learning unspoken rules like how to dress or make professional small talk, said Isabel Farchy, founder of the Creative Mentor Network.

“It’s a very difficult time for young people, especially those who are coming out of university,” said Sonya Barlow, 28, founder of LMF Network, which aims to bring more women into the tech industry.

Ms. Barlow, who is of South Asian heritage, said she was shocked to receive more than 800 applications for her recent mentoring round, mostly from young women of color—a jump from 150 applicants in 2020.

“They were saying, ‘We don’t know what to do about our future. We don’t know how to enter a workplace remotely because we’ve never been taught it’,” said Ms. Barlow.

“It’s a whole generation of lost talent.”

Ms. Barlow, who launched a consultancy during the pandemic while living with seven relatives, said she used a virtual background because she did not want investors or clients thinking less of her due to her working environment.

Black-British engineer Ms. Folayan said projecting the right image is important for ethnic minority workers, especially if they already stick out due to their race, religion, or come from a lower socioeconomic background.

She said her corporate attire in the office, down to the way she wore her hair, was intentional but at-home video calls have created additional stress for many Black women.

“There are kids running around. This is not the presentation I want people to see, even though this is who I am,” she said.

“It just impacts productivity because normally you perform your best when you’re feeling quite confident in yourself. It boils down to people not feeling included from the start and this just magnifies the situation.”

CAMERAS ON
Managers need to ensure young workers are not falling through the cracks, said Dee Sekar, Diversity and Inclusion Director at legal research firm Chambers and Partners.

“You can have people in the same organization … who may not have broadband access or limited broadband access, and you may have some people in the senior leadership team who are looking out from their mansion,” said Ms. Sekar.

Nearly one in 10 British families had no computer or tablet at home at the start of the pandemic, according to estimates from the country’s media regulator Ofcom.

“Organizations need to be on the front foot. Having an inclusive digital workplace is something we need to be doing now, not waiting till we come out of lockdown,” Ms. Sekar said.

For 23-year-old software engineer Ife Ojomo, remote working has made her work twice as hard to be seen and heard—even starting a podcast at work so she could meet senior staff.

“Sometimes when I sit in the wider company meetings, I’m so so lost—it’s difficult to keep track of all the changes as the company is so big. However, I think with every challenge is an opportunity,” she said.

“This means you have to be a lot more proactive than if you were in the office, which can be taxing at times. My advice to anyone starting a job remotely is to be as visible as possible. Volunteer for things. Turn your cameras on.” — Lin Taylor/Thomson Reuters Foundation

Globe receives Four Golden Arrow recognition on Corporate Governance

Globe received the coveted Four Golden Arrow Award during the ASEAN Corporate Governance Scorecard recognition ceremony held on February 19.

The company was recognized by the Institute of Corporate Directors (ICD) for its outstanding domestic performance at the ACGS 2019 Assessment. The ICD is the domestic ranking body for the Philippines.

Globe was the lone telco to receive the Four Golden Arrow Award, currently the highest award to be given to assessed Philippine companies. The same recognition was given to its sister company, Ayala Land, Inc. The prestigious citation reinforces Globe’s commitment to adopt ethical and best practices across its businesses.

We are truly elated to receive this recognition. This is a manifestation of the strong collaboration between corporate governance and business at Globe. We look forward to sustaining the corporate governance culture in the organization to continue enabling business growth and creating value for all our stakeholders,” said Marisalve Ciocson-Co, Globe’s Senior Vice President for Law and Compliance, Chief Compliance Officer and Assistant Corporate Secretary.

The Golden Arrow is awarded to publicly-listed companies (PLCs) and insurance companies that achieved the scores of at least 80 points in the 2019 ACGS Assessment. There are five levels of performance with corresponding scores that will identify the number of golden arrows.

“The golden upward-pointing arrow symbolizes the continuing efforts of the Philippine companies to raise the level of compliance with the ASEAN corporate governance principles and we are proud to be one of them,” said Ciocson-Co.

Introduced in 2011, the ACGS recognizes corporate governance achievements of publicly-listed companies in the region, with the first inaugural awarding ceremony held in 2015. Globe has been consistently in the list since then.

The ACGS is a joint effort of the ASEAN Capital Markets Forum (ACMF) and the Asian Development Bank (ADB) aimed at promoting integration within the region and the ASEAN as an investment asset class. The ACGS is composed of two levels that focus on key corporate governance principles including rights and equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and responsibilities of the Board, with bonus and penalty items.

Assessment of the top ASEAN publicly listed companies based on market capitalization were conducted using a Scorecard supported by rigorous methodology and benchmarked against international principles and best practices of corporate governance.

Globe recognizes the importance of good governance in realizing its vision, carrying out its mission, and living out its values to create and sustain increased value for all stakeholders.

As proof of its commitment, Globe has made it to the FTSE4Good Index Series for the fifth consecutive year, as well as received an “A” rating from MSCI ESG, proving its dedication to Environmental, Social, and Governance (ESG) practices that help shape society’s sustainable future.

Globe further strengthened its commitment to environment transparency when it formally joined the globally-recognized Task Force on Climate-Related Financial Disclosure recently.

Globe’s annual Integrated Report is also in accordance with the ACGS, the Securities and Exchange Commission’s Integrated Annual Corporate Governance Report, and key Sustainability Reporting Frameworks. Globe’s corporate governance updates, activities, documents, reports, and policies are publicly available through https://www.globe.com.ph/about-us/corporate-governance.html

Globe’s corporate governance initiatives are also in support of the 10 UNGC principles and the UN Sustainable Development Goals (UN SDGs).

For more information, visit www.globe.com.ph

Pandemic aid to poorest countries critical to US interests  — Treasury nominee Adeyemo

WASHINGTON — Wally Adeyemo, President Joseph R. Biden, Jr.’s nominee for the No. 2 job at the US Treasury, said it was critical to end the coronavirus disease 2019 (COVID-19) pandemic everywhere around the globe and doing so would require providing resources to some of the poorest countries.

Mr. Adeyemo made the comment at his confirmation hearing before the Senate Finance Committee when asked about a possible new allocation of the International Monetary Fund’s own currency, or Special Drawing Rights (SDRs), that would allow rich countries to provide additional resources to poorer countries.

“Providing financial resources to some of the most poorest countries in the world is going to be critical to our national security if we seek to make sure that COVID-19 isn’t something that continues to affect us,” Mr. Adeyemo said.

Democratic Senator Elizabeth Warren told Mr. Adeyemo it was no surprise that the Trump administration had blocked issuance of new SDRs, a move akin to a central bank printing money, but she hoped the Biden administration would reverse that position.

“I hope Treasury will commit to delivering this crucial support,” she said. “This pandemic won’t be over for us until it’s over for everyone, and our economy won’t fully recover until other countries’ economies are back on their feet as well.”

The US Conference of Catholic Bishops and an alliance of faith groups urged Mr. Biden in a letter on Tuesday to back a $3 trillion issuance of the IMF’s currency to help poor countries devastated by the coronavirus pandemic.

Italy, which is leading the Group of 20 major economies this year, is pushing for a more moderate $500 billion allocation, a move backed by France, Germany, and other big countries.

Mr. Adeyemo gave no details of how the aid should be provided, and US officials have not communicated a firm position on a new SDR allocation. Treasury declined to comment.

It was not clear if Treasury Secretary Janet Yellen would back an SDR allocation when she meets virtually with other G20 finance officials on Friday.

Ms. Yellen assured Italy’s top central banker on Tuesday that Washington would work closely with Italy during its G20 presidency on shared priorities such as ending the pandemic and improving support for low-income countries, Treasury said in a statement that did not address the SDR issue.

IMF Managing Director Kristalina Georgieva first proposed an SDR allocation early in the pandemic but faced resistance from the United States, the IMF’s biggest shareholder, which argued such a move would provide little aid to the countries that needed it most.

Republicans also worry that it could provide funds to countries like Iran and Venezuela that are under US sanctions.

Civil society groups and religious leaders are urging Washington to drop its opposition, arguing that an SDR issuance would help provide urgently needed resources for smaller countries at virtually no cost. — Andrea Shalal/Reuters

AstraZeneca to miss second-quarter EU vaccine supply target by half — EU official

BRUSSELS — AstraZeneca Plc has told the European Union (EU) it expects to deliver less than half the coronavirus disease 2019 (COVID-19) vaccines it was contracted to supply in the second quarter, an EU official told Reuters on Tuesday.

Contacted by Reuters, AstraZeneca did not deny what the official said, but a statement late in the day said the company was striving to increase productivity to deliver the promised 180 million doses.

The expected shortfall, which has not previously been reported, follows a big reduction in supplies in the first quarter and could hit the EU’s ability to meet its target of vaccinating 70% of adults by summer.

The EU official, who is directly involved in talks with the Anglo-Swedish drugmaker, said the company had told the bloc during internal meetings that it “would deliver less than 90 million doses in the second quarter.”

AstraZeneca’s contract with the EU, which was leaked last week, showed the company had committed to delivering 180 million doses to the 27-nation bloc in the second quarter.

Asked about the EU official’s comment, a spokesman for AstraZeneca initially said: “We are hopeful that we will be able to bring our deliveries closer in line with the advance purchase agreement.”

Later in the day, a spokesman in a new statement said the company’s “most recent Q2 forecast for the delivery of its COVID-19 vaccine aims to deliver in line with its contract with the European Commission.”

He added: “At this stage, AstraZeneca is working to increase productivity in its EU supply chain and to continue to make use of its global capability in order to achieve delivery of 180 million doses to the EU in the second quarter.”

A spokesman for the European Commission, which coordinates talks with vaccine manufacturers, said it could not comment on the discussions as they were confidential.

He said the EU should have more than enough shots to hit its vaccination targets if the expected and agreed deliveries from other suppliers are met, regardless of the situation with AstraZeneca.

The EU official, who spoke to Reuters on condition of anonymity, confirmed that AstraZeneca planned to deliver about 40 million doses in the first quarter, again less than half the 90 million shots it was supposed to supply.

AstraZeneca warned the EU in January that it would fall short of its first-quarter commitments due to production issues. It was also due to deliver 30 million doses in the last quarter of 2020 but did not supply any shots last year as its vaccine had yet to be approved by the EU.

All told, AstraZeneca’s total supply to the EU could be about 130 million doses by the end of June, well below the 300 million it committed to deliver to the bloc by then.

The arrival of fewer AstraZeneca COVID-19 vaccines in the European Union in the second quarter has been factored into Irish forecasts that were updated on Tuesday, Prime Minister Micheál Martin said after Reuters reported the shortfall.

The EU has also faced delays in deliveries of the vaccine developed by Pfizer and BioNTech as well as Moderna’s shot. So far they are the only vaccines approved for use by the EU’s drug regulator.

AstraZeneca’s vaccine was authorized in late January and some EU member states such as Hungary are also using COVID-19 shots developed in China and Russia.

OUTPUT BOOST DOWN THE LINE?

While drugmakers developed COVID-19 vaccines at breakneck speed, many have struggled with manufacturing delays due to complex production processes, limited facilities, and bottlenecks in the supply of vaccine ingredients.

According to a German health ministry document dated Feb. 22, AstraZeneca is forecast to make up all of the shortfalls in deliveries by the end of September.

The document seen by Reuters shows Germany expects to receive 34 million doses in the third quarter, taking its total to 56 million shots, which is in line with its full share of the 300 million doses AstraZeneca is due to supply to the EU.

The German health ministry was not immediately available for comment.

If AstraZeneca does ramp up its output in the third quarter, that could help the EU meet its vaccination target, though the EU official said the bloc’s negotiators were wary because the company had not clarified where the extra doses would come from.

“Closing the gap in supplies in the third quarter might be unrealistic,” the official said, adding that figures on deliveries had been changed by the company many times.

The EU contracts stipulate that AstraZeneca will commit to its “best reasonable efforts” to deliver by a set timetable.

“We are continuously revising our delivery schedule and informing the European Commission on a weekly basis of our plans to bring more vaccines to Europe,” the AstraZeneca spokesman said in his initial comment.

Under the EU contract leaked last week, AstraZeneca committed to producing vaccines for the bloc at two plants in the United Kingdom, one in Belgium and one in the Netherlands.

However, the company is not currently exporting vaccines made in the United Kingdom, in line with its separate contract with the British government, EU officials said.

AstraZeneca also has vaccine plants in other sites around the world and it has told the EU it could provide more doses from its global supply chain, including from India and the United States, an EU official told Reuters last week.

Earlier this month, AstraZeneca said it expected to make more than 200 million doses per month globally by April, double February’s level, as it works to expand global capacity and productivity. — Francesco Guarascio/Reuters

Gov’t to borrow P160 billion from local market in March

The Bureau of the Treasury (BTr) wants to raise P160 billion from the domestic bond market in March, an advisory on its website showed.

The BTr is planning to borrow P100 billion via its weekly auction of Treasury bills (T-bills) and P60 billion in Treasury bonds (T-bonds) to be offered fortnightly.

The Treasury will offer P20 billion of T-bills every Monday next month beginning March 1. This is broken down into P5 billion each in 91-day and 182-day debt papers and P10 billion in 364-day instruments.

The T-bonds will be auctioned off every other Tuesday: P30 billion in 7-year securities on March 9 and P30 billion via 10-year notes on March 23.

The government raised P127 billion from the local debt market this month, breaching its P110-billion borrowing program for February, as the government opened its tap facility several times to take advantage of lower rates.

The initial borrowing program was at P140 billion in February but the BTr canceled a scheduled offering of P30 billion worth of three-year papers to give way to its retail Treasury bond (RTB) sale.

The government is selling three-year RTBs until March 4, unless the offer period is closed earlier. The bonds bear a coupon rate of 2.375% and can be availed for as low as P5,000.

The Treasury sold an initial P221.218 billion in RTBs at the rate-setting auction held on Feb. 9 as total bids reached P284.183 billion.

The government is looking to borrow P3 trillion this year from domestic and external lenders to help fund its budget deficit seen to hit 8.9% of gross domestic product. — B.M.Laforga 

Transforming education through digital tools

With a lockdown enforced in most of the country since March of last year, schools and universities were forced to close and halt face-to-face classes. In turn, the entire education system was pushed to shift further to digital as well as utilize various modes so that students can still learn at their homes.

As much as it has transformed several aspects of life at an accelerated pace, digital technology is expected to shape education. While there are issues in online learning that remain to be addressed, and while offline modes will still be a part of learning, digital tools are expected to stick further in the ‘now normal’.

Online tools have started to emerge even before the pandemic altered education, benefitting both individual learners as well as large institutions. The past months, nonetheless, further showed the potentials of online learning, as Jess Obana, senior managing consultant at P&A Grant Thornton, observed.

“Online learning is not new. What is new is that schools are embracing it as vital to how the next generation[s] of learners are taught,” Mr. Obana wrote in an article that can be viewed on the firm’s website.

Since the lockdown, classes have been held through video conferencing platforms such as Zoom and Google Meets. This is coupled with the use of social networking applications such as Messenger and even Discord for announcements and submissions.

There are also learning management systems (LMS) such as Google Classroom, Moodle, Blackboard Learn, and Canvas. These are seen by Mr. Obana to be further employed by schools and universities as these “enable students to complete assignments, deliver presentations, take assessments and receive immediate feedback from their teachers online.”

Open educational resources (OER) have also emerged, and they are likewise expected to be further adopted in the future. With their wide range of content and tools, OERs such as MIT Open Courseware, OER Commons, Lumen Learning, Merlot II, and OpenStax CNX allow netizens to learn various courses without having to get enrolled in a university.

The Department of Education (DepEd) has launched its own OER, DepEd Commons, which supports both public and private school students and teachers in learning online with its wide range of resources that can be accessed free of charge.

More than enabling learning beyond the bounds of physical classrooms, online tools are also making learning accessible for students with special needs.

Virtual class platform TinyLabs, for instance, has made it easier for a hard-of-hearing student to understand the lesson being taught online, as the platform’s co-founder and executive director, Shaina Tantuico, shared in a BusinessWorld report last year.

Global education technology company D2L, meanwhile, is collaborating with schools in designing digital courses and educational tools that support specific learning needs. Such technology has been applied at De La Salle-College of Saint Benilde’s (DLS-CSB) School of Deaf Education and Applied Studies, where students can use sign language to deliver their essays as well as receive feedback (also in sign language) on D2L’s LMS.

“Students are provided with options regarding the time, place, and pace at which they want to learn,” DLS-CSB’s Educational Technology Office Head Rogelio Dela Cruz, Jr. was quoted as saying in a statement, adding that differentiated learning is now possible with this technology.

Given the various benefits of these digital tools, online learning is expected to be at the core of every school’s strategic plan. “Online education will be a priority not only as a potential source of revenue, but also acknowledged as core to every school’s strategic plan for institutional resilience and academic continuity,” Mr. Obana said.

Addressing digital divide

Digital’s influence in learning, however, is challenged by the digital divide that has emerged amid the increased use of online tools.

Initial data from DepEd’s enrollment survey last year showed the primary concerns of parents in relation to adopting distance learning. A total of 6.9 million cited unstable mobile and internet connections as a primary concern, while 6.8 million noted lack of available gadgets and equipment for distance learning, and 6.2 million cited insufficient load or data allowance.

Also spotting digital gaps in learning, Gloria Tam and Diana El-Azar of educational innovator Minerva Project observed that as the quality of learning is starting to become more dependent on the level and quality of digital access, many are getting left behind.

“The less affluent and digitally savvy individual families are, the further their students are left behind. When classes transition online, these children lose out because of the cost of digital devices and data plans,” Misses Tam and El-Azar wrote in a piece on World Economic Forum’s website.

They warned that the gap could widen further if educational access is dictated by access to the latest technologies and if access costs and quality of access remain compromised.

For Mr. Obana, addressing this divide should involve the development of developing long-distance and offline multimedia teaching modes and learning systems that can allow users to study courses using their personal computers while allowing faculty to track and record their learning.

As online learning gradually shapes education, blended learning is thus expected to come along. “We will also see a mix of live broadcasts, prerecorded (on-demand) content and educational programs on broadcast media,” Mr. Obana added.

It is undeniable that technology has been further used since the pandemic broke out. Now, in the ‘now normal’, rapidly emerging innovations are set to blend with traditional modes of learning and enhance education in general. — Adrian Paul B. Conoza

Philippine mining: A contributor to economic recovery

During the long wait for the COVID-19 vaccine, officials from the National Task Force Recovery Cluster said that they expect the Philippine economy to be up for a long-term growth trajectory following the 9.5% contraction in 2020. The National Economic and Development Authority (NEDA) indeed launched the Updated Philippine Development Plan (PDP) 2017-2022, gearing the country towards economic recovery by responding to the challenges brought by the COVID-19 pandemic.

Such a recovery hinges on the continued efforts of the government to stimulate the economy, address the devastation the pandemic has wrought on micro, small, and medium enterprises, and revive consumer consumption.

“Now more than ever, the Duterte government must find ways to raise revenues and generate business activities to hasten economic recovery. Fortunately, the country has an untapped treasure trove of resources to fall back on,” economist Andrew J. Masigan wrote for BusinessWorld in December.

Mining could be the answer. According to data from the Mines and Geosciences Bureau (MGB), the country’s mining sector contributed around US$4.38 billion to the economy in 2019 through the exports of metallic, non-metallic minerals, and mineral products, with Japan, Australia, Canada, and China as the major buyers.

That year, the total estimated production value for metallic minerals was P130.73 billion, up by 7.03% or P8.59 billion compared to 2018’s P122.14 billion. Around P107.4 billion was estimated to be Gross Value Added (excluding crude oil) in mining at recorded prices.

Mr. Masigan notes that gold deposits in the Philippines are among the largest in the world with reserves estimated at 101.6 million metric tons. Iron ore reserves are at 298 million metric tons. Among non-metallic minerals, limestone reserves are approximately 19.5 billion tons while marble reserves are at 14.5 billion tons. The Philippines leads the world in chromite resources as well.

“Despite our enormous mineral resources, the contribution of the mining industry to the economy remains minuscule. As of last year, the share of the mining output to GDP (gross domestic product) was a mere .06%. It contributed only 1.2% to national tax collection, and comprised only 6.3% of exports. In terms of jobs, it employed less than .04% of the workforce. In contrast, the mining sector in Indonesia accounts for 21% of exports and 7% of GDP,” Mr. Masigan wrote.

According to S&P Global Market Intelligence, the Philippine mining sector is hopeful that the country’s government will recognize the importance of the industry in the wake of the pandemic, representing a potential silver lining after almost a decade of struggling with a moratorium on new permits and a ban on open-pit mining.

“In general, we feel that the pandemic will make the government realize that this sector of our economy can even be more important during times of crisis given the support that large-scale operations provide to their local government units and host communities through social expenditures and crisis management teams,” Gerard H. Brimo, chairman of the Chamber of Mines of the Philippines and president and CEO of Nickel Asia Corp., told S&P Global Market Intelligence.

“What stymies the industry’s growth and its ability to further contribute to the economy are policy roadblocks, principally the moratorium on new mining permits that has been in place since 2012 under Executive Order 79 and the ban on open-pit mining,” he added.

A new tax bill in the House of Representatives has been passed at the committee level, pending approval in plenary, that could potentially see the lifting of the moratorium. Mr. Brimo added that the new tax structure is competitive and progressive in nature, and will be beneficial both to the sector and the government, with the latter’s coffers currently hit by social amelioration programs implemented during the pandemic.

“If this happens, three pending mining projects can bring the industry’s exports to over 9% of the total Philippine exports and increase the industry’s contribution to about 1.4% of the country’s GDP,” he added, noting that mining accounted for 5.99% of exports and 0.69% of GDP as of 2018.

Meanwhile, the MGB echoed the optimism on the mining industry’s potential role in the economic rebound in the coming years if those hurdles are lifted.

Speaking to S&P Global Market Intelligence, MGB Director Wilfredo G. Moncano said, “The mining sector is in a struggle right now, but I am positive that the industry will rebound. It may not be seen this year but in the succeeding years. We, in the industry, are confident that the mineral sector will play a crucial role in the recovery of the economy in the next two to three years.”

He added that the lifting of the moratorium on new projects will open the doors to at least 12 new mining projects worth several billions of pesos, all without sacrificing the environment and the rights of indigenous people following the MGB’s recent issued order to mining companies to realign their annual social development and management program or community development budget and to use it instead in assisting workers and affected local communities. — Bjorn Biel M. Beltran

How does the Philippines stack up with its neighbors in terms of legal gender equality?

LEGAL GENDER EQUALITY in the Philippines regressed as no new reforms were implemented since late 2019, a World Bank study showed. Read the full story.

How does the Philippines stack up with its neighbors in terms of legal gender equality?

Legal gender equality slips in the Philippines

The World Bank noted the Philippines is one of the countries, along with Montenegro and Pakistan, who created online platforms for women needing help. — PHILIPPINE STAR/MICHAEL VARCAS

LEGAL GENDER EQUALITY in the Philippines regressed as no new reforms were implemented since late 2019, a World Bank study showed.

The World Bank’s Women, Business and the Law (WBL) 2021 report, which identifies the laws and regulations restricting economic opportunity for women across 190 economies, showed the Philippines’ score stood at 78.8 out of 100. This was lower than its 81.3 score in the previous year’s report.

Despite the dip, the Philippines’ latest score remained higher compared with the global average WBL score of 76.1 and East Asia and the Pacific region’s average score of 71.9.

The World Bank study used eight indicators to compute the WBL overall score, namely: mobility, workplace, pay, marriage, parenthood, entrepreneurship, assets and pension.

The report used data collected between Sept. 2, 2019 to Oct. 1, 2020, and showed the countries’ unweighted average of all eight indicator scores on a scale of 0-100, with 100 being the highest.

The Philippines scored 60 out of 100 in marriage, parenthood and assets; 75 in mobility and pension; and 100 in workplace, pay and entrepreneurship.

However, the Philippines did not adopt new policy reforms or made significant changes to existing ones during the period, according to the World Bank.

The World Bank noted the Philippines is one of the countries, along with Montenegro and Pakistan, who created online platforms for women needing help, especially related to gender-based violence.

“Diverse responses to domestic violence such as these are fundamental, but prevention measures, which are equally essential, are largely absent. Governments still have room to enact measures and policies aimed at addressing the roots of this epidemic of violence,” the World Bank said.

Of the 190 economies tracked, only 27 nations recorded policy changes during the period.

Among East Asian economies, Taiwan (91.3), Hong Kong (89.4) and Laos (88.1) had the highest WBL scores.

The Philippines also lagged behind South Korea (85), Timor-Leste (83.1), Mongolia (82.5), Japan (81.9) and Vietnam (81.9).

Across the globe, the World Bank noted progress in adopting policy reforms towards gender equality slowed down in 2020, compared with previous years.

“Still, many laws continue to inhibit women’s ability to enter the workforce or start a business. On average, women have just three-quarters of the rights of men. New measures may also be necessary to safeguard their economic opportunities during this time of crisis,” it said.

Higher-income economies still led the overall improvement in gender equality with an average score of 85.9. Only 90 nations saw their higher scores in this year’s index.

“Progress in the rest of the world was slower during 2020, with other regions recording fewer reforms than in previous years,” it said.

The World Bank also said the lasting social and economic impacts of the coronavirus pandemic would affect men and women disproportionately, with the women appearing to suffer more.

“Because they make up the majority of health, social service, and unpaid care workers, women are uniquely susceptible to the effects of the pandemic. In addition, women continue to earn less than men for the same work, as well as face a higher risk of violence in their homes,” it said.

The report is the seventh edition since the bank started releasing its Women, Business and the Law series in 2009. — Beatrice M. Laforga

How does the Philippines stack up with its neighbors in terms of legal gender equality?