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Collaboration tool addresses challenges of remote work, including lack of synchronization

Monday.com is a centralized work operating system (Work OS) that allows teams with different functions to plan and track projects, processes, and daily work tasks from anywhere, anytime. 

The project management platform aims to address work-from-home challenges, including the lack of synchronization across teams and the lack of transparency.

Edward L. Cornel, i4 Asia Incorporated’s project manager for monday.com, demonstrated how the centralized workspace can track operations and streamline communication within and among departments through custom dashboards.

“It’s designed with flexibility to fit thousands of processes,” he said. “Marketing departments can use it for event management. Operations departments can use it for the creation of a help desk. Human resources departments can use it for employee onboarding. Creative departments can use it for review cycles.” 

i4 Asia Incorporated is a digital solutions agency and has been a Philippine partner of monday.com since January 2020. It has helped onboard more than 200 clients to the platform thus far.

The platform, which has different pricing plans depending on one’s needed features and storage space, also integrates with other apps like Trello, Slack, Gmail, and Zoom. Plans start at $8 per month.

It is Health Insurance Portability and Accountability Act (HIPAA) compliant and offers two-factor authentication. All data in the system is exportable, and clients can opt to download all their data at the end of their subscription period.

Founded in 2012 by Roy Mann and Eran Zinman, monday.com is a recognized unicorn and that won the 2020 Webby Award for Productivity. Among the companies that use monday.com worldwide are Chatime, BBC Studios, Adobe, Discovery Channel, and Unilever. 

“It’s like Excel on steroids,” said Michael Koa, managing director of bubble tea drink franchise Chatime Philippines, which uses the platform for business development projects and repair and maintenance logs. “You can organize reports the way you like it. Everyone’s in the know. It’s a good product, I must say.” 

Technology has to be part of a business, Mr. Koa added, or else “you’ll get left behind.” 

The system is intuitive, Mr. Cornel said during the virtual presser. “More than 70% of our user base are from non-technical backgrounds. It typically takes a day to get accustomed to the basics [of it].” — Patricia B. Mirasol

Rich countries must increase COVID-19 vaccine supply to poor nations, Argentina, Mexico say

MEXICO CITY — The presidents of Mexico and Argentina on Tuesday pressed the United Nations and the world’s richest countries to improve poorer nations’ access to COVID-19 vaccines, deriding efforts as grossly inadequate so far.

Mexican President Andres Manuel Lopez Obrador said the United Nations’ scheme to ensure the poorest could get vaccines was not working, arguing that 80% of supplies were concentrated in 10 countries, which was “totally unfair.”

“Where’s the universal brotherhood?,” he told a joint news conference with his Argentine counterpart, Alberto Fernandez, a fellow leftist who is visiting Mexico.

“The UN must intervene, because it looks like a flower vase, it’s a decoration,” Mr. Lopez Obrador said.

Mr. Fernandez backed his host’s words and noted that he and French President Emmanuel Macron were pressing to have vaccines declared a “global good” by the Group of 20 major economies to which Mexico and Argentina belong.

According to Oxford-based research group Our World In Data, Mexico has administered 1.3 vaccines per 100 of population, and Argentina 1.6. By contrast, Britain has done 27.0 and the United States 19.2. The world average is 2.7, the figures show.

Sharp inequalities in vaccine rollouts have led to criticism that all but the world’s richest countries will have to wait for months, if not years, for comprehensive access to the inoculations.

Mr. Lopez Obrador accused the wealthiest countries of “hoarding” vaccine supplies, and his foreign minister, Marcelo Ebrard, has raised concerns over the issue at the UN Security Council.

Mr. Ebrard expressed frustration vaccines had not yet reached Mexico under the COVAX scheme backed by the UN’s World Health Organization meant to guarantee equitable access.

Both Mexico and Argentina have faced criticism over efforts to inoculate their populations and a joint project to make the AstraZeneca vaccine for Latin America has yet to yield results.

Mr. Lopez Obrador said the first AstraZeneca shots would be ready in early April. Previously, officials had said March.

Mr. Fernandez has been on the defensive over privileged vaccine access that people close to the government received, while in Mexico the rollout has been hampered by the failure of promised supplies to arrive.

Mr. Lopez Obrador has also taken flak for his resistance to wearing a face mask, and he was again barefaced when he clasped arms with the masked Fernandez as they met on Tuesday.

The two men warmly exchanged compliments with each other in the news conference, during which both attacked critical media. — David Alire Garcia/Reuters

United warns of cargo disruptions as it reviews fleet options following 777 incident

United Airlines has warned of possible disruptions to its cargo flight schedule in March as it juggles its fleet after its decision to ground 24 Boeing 777-200 aircraft, according to a notice sent to cargo customers.

Chicago-based United temporarily removed the 777-200 planes from service after an engine failure on Saturday forced an emergency landing on a passenger flight soon after take-off.

“As we review options for swapping aircraft in for scheduled passenger flights, we will be readying planes that have been parked in storage, reconfiguring some cargo-only flights to return to the passenger schedule, and modifying the March cargo flight schedule,” United Cargo said in the notice on its website, posted late Monday.

United said it is working to determine the next steps on its 777-200 aircraft with the National Transportation Board and the Federal Aviation Administration, which on Tuesday ordered inspection of US-operated Boeing 777-200 jets with Pratt & Whitney PW400 engines before further flights.

“Once we have determined the scope of these changes, we will communicate the updated schedule and reach out to customers who have shipments that have been impacted,” United said in the notice.

In March 2019, after a 2018 United engine failure attributed to fan blade fatigue, the FAA ordered inspections every 6,500 cycles. A cycle is one take-off and landing.

South Korea’s transport ministry said on Tuesday it had told its airlines to inspect the fan blades every 1,000 cycles following guidance from Pratt after the United incident. That would translate into roughly 10 months of 777 operations before required inspection, one industry source said.

United’s message to cargo customers was reported earlier by FreightWaves.

Airlines including United have relied heavily on cargo business to offset a sharp decline in passenger traffic resulting from the coronavirus pandemic. — Tracy Rucinski/Reuters

Philippines to probe use of illegal COVID-19 vaccines

MANILA – The Philippines health ministry said on Wednesday it will investigate the illegal use of unauthorised COVID-19 vaccines, after a presidential advisor admitted to receiving shots of a Sinopharm vaccine smuggled into the country.

Ramon Tulfo, a celebrity radio and television host and special envoy to China, revealed in his newspaper column on Feb. 20 and again in an interview with One News that he received a dose in October from a batch that was also used by President Rodrigo Duterte’s security detail.

“I got hold of vaccines from a friend who smuggled it into the country,” Tulfo told One News.

News last month of Duterte’s bodyguard unit taking the vaccine, which it said was without the president’s knowledge, prompted criticism from lawmakers about privileged access and flouting of laws.

Several government officials also received Sinopharm shots, Tulfo said, adding to speculation that vaccines were available on the black market.

The Food and Drug Administration (FDA) has not approved use of the Sinopharm vaccine, making its importation and distribution illegal. Sinopharm has not sought emergency use authorisation in the Philippines.

“We are investigating because it’s not good to learn of these inoculations that did not go through proper procedures,” FDA chief Rolando Enrique Domingo said.

Philippine Health Undersecretary Rosario Vergeire said recipients of unauthorised vaccines were also accountable.

Calls to Sinopharm in China were unanswered, and a spokeswoman for its unit developing COVID-19 vaccines has yet to respond to written queries.

Tulfo, 74, said he had wanted to test the vaccine’s efficacy as he was applying to be a distributor.

“I don’t feel guilty about it,” he said.

The Philippines has yet to start immunisations or receive any COVID-19 vaccines that it has approved for emergency use, despite having one of highest number of cases and deaths in Asia. Reuters

How the pandemic changed political communication—and why it matters

By Andrew S. Roe-Crines

The social impact of COVID is self-evident. It has touched the everyday aspects of each of our lives, from simple tasks such as shopping, to meeting family members on Zoom, to (not) socializing with friends. Each of these has been transformed over the last year in ways never imagined before March 2020.

This can also be said of the kind of language politicians use—and of the expectations their audiences have when listening to them. This is because politicians are no longer to appear in front of crowds, be they large or small. They don’t meet voters or their parties, and even in parliament they are only speaking in front of a small, socially distanced group of fellow Members of Parliament (MPs).

All this affects the quality of our liberal democratic discourse. It also changes the kinds of arguments politicians use to justify their decisions (and the extent to which such changes are exposed to genuine democratic scrutiny). For example, since March 2020, changes to the norms, values and expectations of a free society have changed at speed with little parliamentary or media scrutiny. In order to impose lockdowns, freedoms have been restricted. These changes were done for public health reasons but they still pose a significant challenge to conventions of a democratic society.

Ordinarily, prime minister’s questions would be a riotous occasion in the House of Commons. Party leaders seek to expose the intellectual and political deficiencies of their opponent and their arguments. The conventional purpose of this exercise is for each leader to whip their backbenchers into a vocal frenzy of support, thereby showing they can lead their party to potential future victory at the polls.

COVID has dialed back the volume considerably. The pandemic has removed most of the physical audience (Members of Parliament), and changed the tone of questions and answers so that they are now more comparable to a forensic select committee. Gone are loud displays of support, or the need for the Speaker to regularly demand “order!” Under the current circumstances, PMQs (Prime Minister’s Questions) has been transformed into a sedate exchange of questions and answers. There is little to no interaction with the physical or virtual audiences of MPs.

Another arena to have rhetorically been affected by COVID are media engagements. Sit-down interviews occasionally continue in a socially distant way on some of the bigger weekly programs but on the rolling news channels, politicians are now “Zoomed in” from their home offices which, in themselves, send interesting messages to the audience. Politicians will use these settings to try to convince audiences of their rhetorical character using props such as books, framed pictures or other items such as plants. The aim is to make the interview slightly more open and potentially more composed by placing the political figure in a domestic setting, yet this setup lacks the conventional confrontational framing provided by a face-to-face interview which is often required for genuine scrutiny.

Finally, the party conference has inevitably been substantially affected by COVID and with it the ability of party leaders to engage with their supporters. Normally the keynote party leader speech would be a chance to articulate an ideological renewal strategy. It’s the leader’s chance to show they are capable of continuing to lead their party and to enjoy their support through audience reactions such as applause.

The virtual conference cuts out a key measure of how much support a leader really has—the sound of the audience. Without that feedback, party leaders are left speaking into a camera in the hope that the audience accepts their arguments without really knowing if it does. That affects the vocal tone of their delivery and overall speaking style. This has been a significant issue for Labour leader Keir Starmer, especially as he has yet to appear before the Labour Party conference in person as leader.

The impact of COVID on these rhetorical arena affects the ability of one of our key democratic norms to function—communication. Without communication (or rhetoric), there is no meaningful liberal democratic society or scrutiny of our political leaders. This is not to suggest our liberal democracy has ceased to function (indeed, its move into the virtual realm is a testament to its strength). However, the manner in which PMQs is currently functioning impedes not just scrutiny but also the ability of party leaders to lead their parliamentary parties.

The use of virtual interviews affects the ability of interviews to truly hold political leaders to account, given the changing tone in the environment. And the digital party conference prevents activists from showing their support for party leaders through applause. It is important that a party leader solicits applause from their supporters as it shows the wider electorate that they lead a supportive party. Without applause, it is unclear if they have a united party behind them that supports their leadership or broader agenda.

Needless to say, these situations are unavoidable during the COVID pandemic because safety rightly comes first. However, it is important that in a post-COVID world, the norms and expectations of political communication are returned to their liberal democratic norms of vocal and uncomfortable accountability for healthy engagement between political leaders and voters to return. When it is safe to do so, it is vital that in these areas the “new normal” resembles the “old normal.” — The Conversation

 

Andrew S. Roe-Crines is a British politics lecturer at the University of Liverpool.

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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