Press Release

Manila, Philippines – Investor preference for companies with sound environmental and social practices has been highlighted by Covid-19, as markets have clearly shifted towards more resilient businesses since the onset of the pandemic. Thus, corporate sustainability strategies are increasingly becoming more significant around the world, with climate risk emerging as a make-or-break issue for investors and other stakeholders.

This was one of the highlights of the 5th installment of the Upsilon Sigma Phi Climate Action Network (UpsilonCAN) webinar series entitled “Getting to Net Zero Through Climate Finance” held last Saturday, January 22. According to guest speaker Michael Arthur Sagcal, Philippine Country Representative of Washington, D.C. firm Astris Finance, “Markets now price climate risk into the value of investments. A company’s environmental and social impacts are now factored into the investment decision process on top of financial returns.”

In previous installments of the series, speakers from Unilever Philippines, First Gen, and Iloilo electricity distribution utility MORE Power all presented their respective companies’ sustainability efforts towards creating positive environmental and social impacts in line with their business operations.

Sagcal added that so-called ESG standards (environmental, social, and governance) will become the universal metric for measuring a company’s sustainability performance, especially with the creation of the International Sustainability Standards Board which was announced during the United Nations Framework Convention on Climate Change’s (UNFCCC) 26th Conference of Parties (COP 26) held in Glasgow last November.

His presentation focused on the role of climate finance in enabling us to achieve the goal of net-zero carbon emissions by 2050, emphasizing that the climate change crisis has mobilized governments, organizations, and individuals to take immediate action against global warming. Pursuant to the Paris Agreement, developed nations have pledged ambitious contributions of USD 100 billion per year towards this goal, and the combined amounts mobilized by the public and private sectors for sustainability initiatives averaged USD 632 billion in 2019 and 2020. In the US, the largest banks have pledged to allocate around $ 4 trillion towards sustainable, climate, and green efforts over the next decade.

The presentation was followed by a lively discussion between the speaker and enthusiastic participants which was moderated by Dominic Afuang, head of East Asia supply chain.

The Climate Action Network is a series of virtual events sponsored by Upsilon Sigma Phi. Led by government officials and private sector leaders from the Philippines as well as experts around the world, the initiative seeks to elevate ongoing discussions on the global climate crisis through information sharing, encouraging engagement, and empowering activism. In pursuit of its slogan: "Saving our Planet, One U-Talk at a Time!", the UpsilonCAN initiative will continue to host a series of online webinars to tackle the issue of climate change.

For more information on past and future events or to sign up, visit http://upsiloncan.eventbrite.com/.

November 20, 2021

Upsilon Sigma Phi concluded its 4th installment of the Climate Action Network Series with the latest session focused on how MORE Electric and Power Corp, an electric distribution utility company in Iloilo City, is shifting to clean energy and sustainable initiatives titled: “Adopting to the Changing Environment: A Case of a Private Distribution Utility”.

Speaker Roel Castro, President and Chief Executive Officer of the company, described the major functions of the power system: from generation to transmission and distribution and the environmental impacts of each phase. He noted that electricity and heat generation contribute about 25% of the global greenhouse gas emissions. Locally, the Philippines’s energy sector has the highest contribution of about 54% of the country’s total annual greenhouse gas emissions. He narrated that MORE Power is now undertaking steps towards automation through smart grid technologies.

He shared the company’s various policies, improvements in the technological environment, and other activities that contribute to their Sustainable Development Goals (SDGs). He announced that MORE Power’s current power source is now 100% renewable energy, majority of which comes from geothermal power from Leyte. This clean energy sourcing eliminates about 174,400 tons of carbon dioxide since May 2021. The current electricity rate went down to Php 6.33/kWh from an average Php 9.43-11.41/KHh, by converting 23,138 illegal connections to legal connections, which lowered the system loss from 28% to 7.9%.

He explained that the company is now using less paper with about 18% of it’s customers are now being served directly with electronic bills. They are also replacing polychorinated biphenyls (PCB) transformers to non-PCB transformers. PCBs are man-made chemicals and can be ingested by fishes, animals and humans. For its transportation fleet, he announced that they are now using SCADA system and pursuing the use of electric vehicles to its service team. Sustainable culture is encouraged in the company workplace through tree-planting activities, fingerlings release, promotion of use of bicycles, blood drive, and partnerships with local organizations. The company has also committed to plant 10,000 trees for the 2,000 poles to be replaced in the next 5 years.

The presentation was followed by a lively discussion between the speaker and enthusiastic participants which was moderated by Dennis Betito, political officer of vice-presidential candidate Senator Kiko Pangilinan.

The Climate Action Network is a series of virtual events sponsored by Upsilon Sigma Phi. Led by government officials and private sector leaders from the Philippines as well as experts around the world, the initiative seeks to elevate ongoing discussions on the global climate crisis through information sharing, encouraging engagement, and empowering activism.

In pursuit of its slogan: "Saving our Planet, One U-Talk at a Time!", the UpsilonCAN initiative will continue to host a series of online webinars to tackle the issue of climate change.

For more information on past and future events or to sign up, visit http://upsiloncan.eventbrite.com/.

October 23, 2021

Upsilon Sigma Phi concluded its 3rd installment of the Climate Action Network Series with the latest session focused on the current state, challenges, and opportunities in transitioning to carbon-free energy sources titled: “Renewable Energy Opportunities in the Philippines.”

Speaker Carlos Lorenzo Vega, Vice President for Power Marketing, Trading and Economics First Gen Corporation, narrated a brief history of the country’s power industry reforms and expounded how policies enabled market forces to shape future pricing, supply, and mix of traditional energy sources vs renewable energy sources.

He went on to explain how economic growth will directly lead to increased demand for energy supply and while that bodes well for investments in expanding our mix of energy sources, filling the gap represent challenges in achieving sustainability and ensuring grid security.

His presentation then illustrated global and local policies on coal as well as the gaps in our market rules infrastructure resulting in the continued need for ancillary services to ensure flexible baseload capacity and robust energy supply. Such of course exacerbates the long road to renewables as a consistently reliable and practical source.

While upgrading to renewables at the same time satisfying the growing consumption from economic acceleration seems to pose more questions than answers, hence leading to the statement that “It is more fun in the Philippines”, Carlos nevertheless did express his optimism on renewables and their place in a decarbonized future. He emphasized that a progressive application of alternative energy sources in the Philippines is achievable despite the ongoing challenges of transitioning away from coal.

The presentation was followed by a lively discussion between the speaker and enthusiastic participants which was moderated by Atty Tecson John Lim of the Office of the Civil Defense.

The Climate Action Network is a series of virtual events sponsored by Upsilon Sigma Phi. Led by government officials and private sector leaders from the Philippines as well as experts around the world, the initiative seeks to elevate ongoing discussions on the global climate crisis through information sharing, encouraging engagement, and empowering activism.

In pursuit of its slogan: "Saving our Planet, One U-Talk at a Time!", the UpsilonCAN initiative will continue to host a series of online webinars to tackle the issue of climate change.

For more information on past and future events or to sign up, visit http://upsiloncan.eventbrite.com/.

The Upsilon Sigma Phi - the oldest Greek-letter organization and fraternity in Asia – through its Climate Action Network (CAN), held its 2nd U-Talk webinar highlighting Unilever’s Climate Transition Action Plan. The webinar aimed to raise awareness on climate change and how the private sector is stepping up in reducing global greenhouse gas emissions in line with the Paris Agreement. Present in this edition of the U-Talk were Department of Energy Undersecretary Felix William Fuentebella, Office of the Civil Defense Director Tecson John Lim, Pasig Congressman Roman Romulo, and MORE Power CEO Roel Castro to name a few.

Also featured in the U-Talk was Unilever Philippines VP for Sustainable Business & Communications, Ed Sunico. As one of the companies who have strongly expressed its support to protecting the planet, he highlighted how global threats such as climate change and social inequality are deeply intertwined. Climate change not only impacts the environment, but also leads to economic instability as it affects the lives and livelihoods of millions of people around the world. Hence, Unilever has set ambitious goals to combat these threats through its Climate Transition Action Plan.

Climate Transition Action Plan

The Climate Transition Action Plan sets out a range of targets and actions designed to deliver an emissions reduction roadmap covering Unilever’s operations, value chain, brands & products, and even in the way it influences the wider society.

Unilever Philippines has put this plan into action starting with its transition to 100% renewable grid electricity in all its sites thru its partnership with First Gen. The company is also leading various climate-action initiatives including plant-based food transformation, transition to non-HFC point of sale ice cream freezers and driving a massive plastic collection program thru its Kolek-Kilo-Kita program in hundreds of barangays in the country.

In parallel to these efforts, the government, through the Department of Energy, has initiatives in their pipeline that will support the companies with their climate transition journey such as its plan to support E-mobility in the near future. “We have an E-mobility push for Filipinos to use electric vehicles by having dedicated lanes as an incentive. These green routes, once cleared with MMDA and DPWH, will help companies utilizing electric vehicles become more efficient in their logistics”, shared DOE Usec. Wimpy Fuentebella. In an earlier webinar, he said that the Philippine government will remain active in creating policies, laws and initiatives to boost climate resilience.

The Upsilon CAN initiative seeks to focus discussion on the worsening global climate situation. The platform encourages an interchange of ideas and solutions among Filipinos on ways to address the global problem brought about by climate change.

Join the conversation. Log on to http://upsiloncan.eventbrite.com/ and together, let’s save our planet, one U-Talk at a time!

While many have been focused on the pandemic, Upsilon Sigma Phi launched the Climate Action Network that seeks to focus discussion on the worsening global climate situation. The platform encourages an interchange of ideas and solutions among Filipinos on ways to address the global problem brought about by climate change. Congress Majority Rep. and Upsilon Sigma Phi Alumni Association (USPAA) Chairman Martin Romualdez lauded the initiative of Batch 1995 led by Dominic Afuang, Justinn Valerio and Norman Garcia for creating the platform. Romualdez said that the pandemic has provided our planet a brief respite that allows it to recover and we must all take this opportunity to talk about and creating solutions to address global climate change.

The Climate Action Network was launched online in May of this year with Department of Energy Undersecretary Felix William Fuentebella outlining the contributions of the Phillippines to the Paris Agreement. He said that the Department of Energy laid down the Philippine Energy Plan that supports the country in adapting to climate change. The main goals of this plan are boosting indigenous energy production, installing additional power generating capacities, promoting and expedite investment, promoting consumer welfare, and strengthening local and international partnerships.

Fuentebella said that the effort to address climate change is a serious national endeavor, and that the Philippine government continues to create policies, laws and initiatives that strengthen climate resilience. “The country is one step further in meeting the development goals of affordable and clean energy, sustainable cities and communities, and climate action” according to Fuentebella.

Unilever Vice President for Sustainability and USPAA President Ed Sunico said that the initiative seeks to stimulate awareness about climate change. "While it seems that COVID-19 is our biggest challenge now, it’s a fact that two of the biggest threats we are facing remains to be climate change and social inequality. Climate change is not just an environmental concern but also a social one, especially when it unjustly impact the lives and livelihoods of specific groups of people in our society." ”We want to spread the message that each Filipino can contribute to addressing climate change and we created a platform for it", Sunico added.

"Saving our Planet, One U-Talk at a Time!" is the slogan of the UpsilonCAN initiative and will be a series of talks on the issue of climate change. To participate just log on to http://upsiloncan.eventbrite.com/ for the calendar of events.

By Residents:

On May 22, the Upsilon Climate Action Network (Upsilon CAN) held the first installment of the “U-Talks, Climate Action Series”. This series is handled by a coalition of fellows who are involved in solutions against climate change. The speaker for the first episode, Atty. Felix William B. Fuentebella '93, explained the contribution of the Philippines to the Paris Agreement. The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 countries (including the Philippines) at the 21st Conference of the Parties in 2015. Its goal is to limit global warming to well below 2, preferably to 1.5 deg Celsius, compared to pre-industrial levels.

The Department of Energy laid down the Philippine Energy Plan that supports the country in adapting to climate change. The main goals of this plan are boosting indigenous energy production in renewable energy, installing additional power generating capacities, promoting and expedite investment, promoting consumer welfare through energy efficiency, and strengthening local and international partnerships.

With this national endeavor, the Philippine government continues to create policies, laws and initiatives that strengthen climate resilience. Therefore, the country is one step further in meeting the development goals of affordable and clean energy, sustainable cities and communities, and climate action.

"Saving our Planet, One U-Talk at a Time!"