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Monday, 6th February 2023



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First Gen ready for global new normal

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First Gen ready for global new normalFirst Gen ready for global new normal“Amidst these interesting times, we will continue to pursue our businesses with vigor.”

Federico R. Lopez (FRL) made this affirmation during First Gen Corporation’s annual stockholders meeting, where he discussed the company’s transition to the global new normal that is now backdropped by COVID-19 the escalating climate crisis.

Endemic COVID-19 situation

According to data from the Department of Health, as of June 12 the Philippines has tallied totals of almost 3.7 million COVID-19 cases, 3.6 million recoveries and 60,000 fatalities. Active cases are currently at less than 3,000.

In terms of vaccination coverage, a total of 69.8 million Filipinos, or 77.51% of the target population, are fully vaccinated. The country recently started administering second booster jabs to frontline health workers, the elderly and the immunocompromised.

“Barring any new more virulent COVID-19 variants, it appears like the Philippines is headed toward an endemic COVID-19 situation where we learn to live with the virus without the restrictive lockdowns that have constrained the economy these last two years,” FRL said.

First Gen and the rest of the First Philippine Holdings Corporation (FPH) Group are remapping their offices in a way that will allow the companies to rebuild their corporate communities while accommodating the requirements of remote work.

“We’re keeping the best of both worlds, even using office real estate more efficiently as we move forward,” FRL noted.

Collective battle

The First Gen chairman and CEO also reminded his audience that while the climate crisis is a collective battle, the Philippines is especially vulnerable to the adverse effects of the phenomenon due to its location and archipelagic nature. Given this, it is but understandable for Filipinos to be “among the most driven to amplify calls for commitments to a 1.5-degree Celsius world.”

In the Global Climate Risk Index 2021 presented by Bonn-based nonprofit Germanwatch, the Philippines ranked fourth among countries most affected by climate change over the 20-year period from 2000 to 2019. However, the country was way ahead of the pack after being battered by 317 extreme weather events compared to the top three—No. 1 Puerto Rico had 24, No. 2 Myanmar 57 and No. 3 Haiti 80 over the same period. No. 7 Bangladesh and No. 10 Nepal came closest to the Philippines with 185 and 191 events from 2000 to 2019, respectively.

“So what does keeping to 1.5 degrees Celsius really mean? The science tells us we only have about 300-400 gigatons worth of greenhouse gases (GHG) left to emit before we exceed that number. Since the world currently emits 51 gigatons of greenhouse gas each year, we only have around 6-8 years remaining before we lose all chances of hitting that goal of limiting warming to 1.5 degrees Celsius and being left to contend with a harsher 2.0 degrees Celsius world or worse. The UN IPCC AR6 [Sixth Assessment Report] makes this very clear: the window is closing fast,” FRL said. “All these make our mission of ‘forging collaborative pathways for a decarbonized and regenerative future’ more urgent.”

‘Bridge fuel’

With energy production said to be the biggest source of GHG at 47% as of 2020, First Gen is prepared to play a big role in the transition to a net zero economy. The company is focusing its efforts on liquefied natural gas (LNG), which could serve as “bridge fuel” to make intermittent renewable energy—wind and solar, for example—more reliable; this, in turn, will boost demand for these two platforms.

“When complete, our LNG terminal in Batangas City will allow us to import natural gas from around the world, thus providing consumers with clean, reliable energy that will also displace power produced by dirty coal, even after our indigenous supply in Malampaya is exhausted,” FRL shared.

With an expanded wind and solar portfolio, the company aims to attract grid operators, off-grid communities, households looking to switch to environment-friendly alternatives, and contestable customers or users who are allowed to choose their electricity supplier. At the same time, the company will embark on its own decarbonization journey.

“To meet that net zero carbon future, our natural gas plants will eventually need to be repowered, possibly with clean hydrogen, as technology develops and attains commerciality. In the same vein, we are pursuing energy efficiency schemes as well as taking stock of other technologies that will further advance our net zero goal,” FRL said.

In the same meeting, First Gen president and chief operating officer Giles Puno reiterated the need for the energy sector to move fast and to cease using coal.

“We have seen firsthand what the climate crisis looks like. We experienced the catastrophic effects of Super Typhoon Yolanda in 2013 and, more recently, Super Typhoon Odette in December 2021. While the Philippines is not a major contributor to global carbon emissions, these destructive natural calamities have affected our country severely,” he said.

Puno proposed a path to decarbonization that entailed lessening the use of and eventually totally phasing out coal; shifting from one-directional transmission lines to smarter systems; and going big on electrification, such as by adopting electric vehicles, to further fast-track the reduction of carbon emission.

Additionally, Puno assured, the company will “continue to provide the infrastructure and tools for building a resilient energy sector in the country.”

“The pioneering development of our LNG terminal is expected to be completed on schedule by the fourth quarter of 2022…. All of the main structural components of the terminal have arrived on-site and installation is ongoing,” he added.

At the end of the meeting, FRL expressed optimism despite the current challenges faced by the company and the tests still to come.

“The road will be filled with curveballs. But life isn’t just about the presence or absence of difficulties, it’s all about how we deal with those inevitabilities that matters. How we do that is what will make it such an exciting and fulfilling time to build businesses that meet the challenges of the 21st century.”

First Gen chairman and CEO Federico R. LopezFirst Gen chairman and CEO Federico R. Lopez

President and COO Giles PunoPresident and COO Giles Puno

Along with other FPH Group subsidiaries, First Gen did its part to help the government’s program to recover from the COVID-19 pandemicAlong with other FPH Group subsidiaries, First Gen did its part to help the government’s program to recover from the COVID-19 pandemic

The wind platform and other intermittent renewable energy sources are expected to benefit from First Gen’s LNG ventureThe wind platform and other intermittent renewable energy sources are expected to benefit from First Gen’s LNG venture

The ‘GreenWheels’ electric vehicle project, which launched earlier this year, is among First Gen’s initiatives to reduce its carbon emissionsThe ‘GreenWheels’ electric vehicle project, which launched earlier this year, is among First Gen’s initiatives to reduce its carbon emissions

More Filipinos receive Kapamilya love from ‘Pantawid ng Pag-ibig’

Published on Thursday, 20 August 2020 | Hits:569

More Filipinos receive Kapamilya love from ‘Pantawid ng Pag-ibig’

Kapamilya love reached more Filipinos as ABS-CBN Foundation Inc.’s (AFI) “Pantawid ng Pag-ibig: Isang Daan, Isang Pamilya” campaign distributed food packs and ligtas bags outside Metro Manila for those greatly

Mayors express gratitude wellness. to ABS-CBN, AFI

Published on Thursday, 18 June 2020 | Hits:575

Local government units (LGUs) found it challenging to quickly provide relief to families affected by the quarantine. That is why several mayors in Metro Manila and nearby provinces have expressed

‘Pantawid ng Pag-ibig’ gears up for 2nd phase

Published on Thursday, 18 June 2020 | Hits:539

‘Pantawid ng Pag-ibig’ gears up for 2nd phase

As Filipino families continue to struggle with the loss of jobs, ABS-CBN Foundation Inc. (AFI) moves to the second phase of the “Pantawid ng Pagibig” campaign with the aim of

Over 600,000 families to benefit as ‘Pantawid ng Pag-ibig’ raises P350M

Published on Tuesday, 19 May 2020 | Hits:617

Over 600,000 families to benefit as ‘Pantawid ng Pag-ibig’ raises P350M

The “Pantawid ng Pag-ibig” campaign of ABS-CBN and ABS-CBN Foundation Inc. (AFI) has raised P350 million in cash donations and pledges for the benefit of over 600,000 families in Metro

ABS-CBN reaches out to evacuees via ‘Tulong-Tulong sa Taal’

Published on Thursday, 06 February 2020 | Hits:561

ABS-CBN reaches out to evacuees via ‘Tulong-Tulong sa Taal’

NO evacuee will be left behind. This is the promise of ABSCBN as it launches the “Tulong-Tulong sa Taal” campaign, which aims to unite the nation in helping Filipinos affected

ABS-CBN Foundation Europe to hold telethon for London Grenfell Tower fire victims

Published on Friday, 23 June 2017 | Hits:4196

ABS-CBN Foundation Europe to hold telethon for London Grenfell Tower fire victims

ABS-CBN Foundation Europe CIO joins public and private support for the victims of the massive fire that hit the 24-storey residential London Grenfell Tower in West London on June 14

Donate to Operation Sagip Surigao to help earthquake victims

Published on Friday, 17 February 2017 | Hits:4477

Donate to Operation Sagip Surigao to help earthquake victims

A state of calamity has been declared by the Mayor of Surigao City. Relief and rescue operations are underway for the barangays that have been affected.

Bulusan workers turn to backyard farming for steady food supply

Published on Tuesday, 19 May 2020 | Hits:1230

Bulusan workers turn to backyard farming for steady food supply

The Rural Workers Association of San Rafael (RWASR) based in Bulusan, Sorsogon, which runs Nasipit Eco-Agri Farm, has a simple message for their fellow Filipinos: “There is no problem we

‘Ligtas Pilipinas’ helps educate Filipinos on COVID-19

Published on Thursday, 16 April 2020 | Hits:1130

‘Ligtas Pilipinas’ helps educate Filipinos on COVID-19

ABS-CBN helps arm Filipinos with relevant information to stop the spread of disease through its “Ligtas Pilipinas sa COVID-19” campaign on radio, TV and online.

ABS-CBN delivers protective gear, food to health workers

Published on Thursday, 16 April 2020 | Hits:1284

ABS-CBN delivers protective gear, food to health workers

HELP came through for health workers in East Avenue Medical Center after ABS-CBN delivered masks and other protective gear and snacks to show support and Kapamilya love to those leading

‘G Diaries’ bags academic excellence awards

Published on Monday, 09 March 2020 | Hits:938

‘G Diaries’ bags academic excellence awards

“Maraming, maraming salamat po sa award na ipinagkaloob ninyo sa amin. Alay namin ito sa kapatid kong si Gina Lopez,” said “G Diaries” host and Bantay Bata 163 executive director

Finally home

Published on Monday, 09 March 2020 | Hits:1001

Finally home

She could hardly contain her joy and excitement when she saw her son walking towards her. She welcomed him with tight hugs and happy tears as a loving mother would

ALKFI renames building in honor of Gina Lopez

Published on Monday, 09 March 2020 | Hits:762

ALKFI renames building in honor of Gina Lopez

ABS-CBN Lingkod Kapamilya Foundation Inc. (ALKFI) renamed its building Gina Lopez Building in honor of its late chairperson and founder of ALKFI programs Bantay Bata 163 and Bantay Kalikasan.

Fighting child malnutrition with Alaska Milk

Published on Thursday, 06 February 2020 | Hits:968

Fighting child malnutrition with Alaska Milk

ACCORDING to UNICEF, 95 children in the Philippines die every day because of malnutrition. This is one of the reasons Alaska Milk Corporation supports the advocacy of ABS-CBN Lingkod Kapamilya

Bantay Bata, Globe activate #163 helpline for free

Published on Monday, 16 December 2019 | Hits:1466

Bantay Bata, Globe activate #163 helpline for free

IN 2015, Unicef and the Council for the Welfare of Children conducted the National Baseline Study on Violence Against Children in the Philippines, which indicated that eight out of 10

For the Love of Children

Published on Friday, 05 January 2018 | Hits:1482

For the Love of Children

  For the Love of Children For the Love of Children   These children live everyday making ends meet without losing hope that a better future awaits them. Together, let’s keep their hopes alive

New World Hotels & Resorts Hold Run & Raise 2018

Published on Wednesday, 20 December 2017 | Hits:1776

New World Hotels & Resorts Hold Run & Raise 2018

New World Hotels and Resorts gears up for another exciting edition of Run & Raise in 2018. Now on its fourth year, Run & Raise 4 will be held at

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Bayan Academy Calendar

BAYAN Academy offers the following certificate training courses this month:

June 18-19: Market Research

June 25-26: Human Resource Management For rates, call Carol Arcaya at 426-3140. Bayan Academy reserves the right to change course dates.

 

June 18-19:

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