May 29, 2017, 6:31 am
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1 Philippine Peso = 0.07372 UAE Dirham
1 Philippine Peso = 2.41289 Albanian Lek
1 Philippine Peso = 0.03568 Neth Antilles Guilder
1 Philippine Peso = 0.32234 Argentine Peso
1 Philippine Peso = 0.02694 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04014 Barbados Dollar
1 Philippine Peso = 1.61883 Bangladesh Taka
1 Philippine Peso = 0.03501 Bulgarian Lev
1 Philippine Peso = 0.00757 Bahraini Dinar
1 Philippine Peso = 34.21016 Burundi Franc
1 Philippine Peso = 0.02007 Bermuda Dollar
1 Philippine Peso = 0.02775 Brunei Dollar
1 Philippine Peso = 0.1385 Bolivian Boliviano
1 Philippine Peso = 0.06559 Brazilian Real
1 Philippine Peso = 0.02007 Bahamian Dollar
1 Philippine Peso = 1.29566 Bhutan Ngultrum
1 Philippine Peso = 0.20514 Botswana Pula
1 Philippine Peso = 401.84665 Belarus Ruble
1 Philippine Peso = 0.0401 Belize Dollar
1 Philippine Peso = 0.02701 Canadian Dollar
1 Philippine Peso = 0.01958 Swiss Franc
1 Philippine Peso = 13.41871 Chilean Peso
1 Philippine Peso = 0.13757 Chinese Yuan
1 Philippine Peso = 58.49057 Colombian Peso
1 Philippine Peso = 11.65616 Costa Rica Colon
1 Philippine Peso = 0.02007 Cuban Peso
1 Philippine Peso = 1.98153 Cape Verde Escudo
1 Philippine Peso = 0.47496 Czech Koruna
1 Philippine Peso = 3.56443 Djibouti Franc
1 Philippine Peso = 0.13368 Danish Krone
1 Philippine Peso = 0.94018 Dominican Peso
1 Philippine Peso = 2.17375 Algerian Dinar
1 Philippine Peso = 0.28102 Estonian Kroon
1 Philippine Peso = 0.3623 Egyptian Pound
1 Philippine Peso = 0.45965 Ethiopian Birr
1 Philippine Peso = 0.01796 Euro
1 Philippine Peso = 0.04169 Fiji Dollar
1 Philippine Peso = 0.01563 Falkland Islands Pound
1 Philippine Peso = 0.01565 British Pound
1 Philippine Peso = 0.08608 Ghanaian Cedi
1 Philippine Peso = 0.90225 Gambian Dalasi
1 Philippine Peso = 182.35648 Guinea Franc
1 Philippine Peso = 0.14716 Guatemala Quetzal
1 Philippine Peso = 4.09595 Guyana Dollar
1 Philippine Peso = 0.15642 Hong Kong Dollar
1 Philippine Peso = 0.46989 Honduras Lempira
1 Philippine Peso = 0.13267 Croatian Kuna
1 Philippine Peso = 1.33601 Haiti Gourde
1 Philippine Peso = 5.51927 Hungarian Forint
1 Philippine Peso = 267.16178 Indonesian Rupiah
1 Philippine Peso = 0.0717 Israeli Shekel
1 Philippine Peso = 1.29566 Indian Rupee
1 Philippine Peso = 23.70534 Iraqi Dinar
1 Philippine Peso = 651.18426 Iran Rial
1 Philippine Peso = 2.00763 Iceland Krona
1 Philippine Peso = 2.60177 Jamaican Dollar
1 Philippine Peso = 0.01422 Jordanian Dinar
1 Philippine Peso = 2.23294 Japanese Yen
1 Philippine Peso = 2.06945 Kenyan Shilling
1 Philippine Peso = 1.36341 Kyrgyzstan Som
1 Philippine Peso = 81.17021 Cambodia Riel
1 Philippine Peso = 9.03573 Comoros Franc
1 Philippine Peso = 18.06503 North Korean Won
1 Philippine Peso = 22.47491 Korean Won
1 Philippine Peso = 0.00608 Kuwaiti Dinar
1 Philippine Peso = 0.01646 Cayman Islands Dollar
1 Philippine Peso = 6.21999 Kazakhstan Tenge
1 Philippine Peso = 164.1108 Lao Kip
1 Philippine Peso = 30.22079 Lebanese Pound
1 Philippine Peso = 3.06604 Sri Lanka Rupee
1 Philippine Peso = 1.82658 Liberian Dollar
1 Philippine Peso = 0.25943 Lesotho Loti
1 Philippine Peso = 0.06119 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02797 Libyan Dinar
1 Philippine Peso = 0.19607 Moroccan Dirham
1 Philippine Peso = 0.36395 Moldovan Leu
1 Philippine Peso = 1.10036 Macedonian Denar
1 Philippine Peso = 27.19791 Myanmar Kyat
1 Philippine Peso = 48.1935 Mongolian Tugrik
1 Philippine Peso = 0.16111 Macau Pataca
1 Philippine Peso = 7.18587 Mauritania Ougulya
1 Philippine Peso = 0.6951 Mauritius Rupee
1 Philippine Peso = 0.31052 Maldives Rufiyaa
1 Philippine Peso = 14.40426 Malawi Kwacha
1 Philippine Peso = 0.37051 Mexican Peso
1 Philippine Peso = 0.08565 Malaysian Ringgit
1 Philippine Peso = 0.25809 Namibian Dollar
1 Philippine Peso = 6.4432 Nigerian Naira
1 Philippine Peso = 0.6002 Nicaragua Cordoba
1 Philippine Peso = 0.16848 Norwegian Krone
1 Philippine Peso = 2.07648 Nepalese Rupee
1 Philippine Peso = 0.02843 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02007 Panama Balboa
1 Philippine Peso = 0.06543 Peruvian Nuevo Sol
1 Philippine Peso = 0.06377 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10277 Pakistani Rupee
1 Philippine Peso = 0.0752 Polish Zloty
1 Philippine Peso = 111.54155 Paraguayan Guarani
1 Philippine Peso = 0.07308 Qatar Rial
1 Philippine Peso = 0.08182 Romanian New Leu
1 Philippine Peso = 1.13952 Russian Rouble
1 Philippine Peso = 16.44902 Rwanda Franc
1 Philippine Peso = 0.07527 Saudi Arabian Riyal
1 Philippine Peso = 0.15837 Solomon Islands Dollar
1 Philippine Peso = 0.26825 Seychelles Rupee
1 Philippine Peso = 0.13368 Sudanese Pound
1 Philippine Peso = 0.17472 Swedish Krona
1 Philippine Peso = 0.02777 Singapore Dollar
1 Philippine Peso = 0.01563 St Helena Pound
1 Philippine Peso = 0.44572 Slovak Koruna
1 Philippine Peso = 150.54195 Sierra Leone Leone
1 Philippine Peso = 11.01967 Somali Shilling
1 Philippine Peso = 440.26096 Sao Tome Dobra
1 Philippine Peso = 0.17507 El Salvador Colon
1 Philippine Peso = 10.33681 Syrian Pound
1 Philippine Peso = 0.25802 Swaziland Lilageni
1 Philippine Peso = 0.68306 Thai Baht
1 Philippine Peso = 0.04816 Tunisian Dinar
1 Philippine Peso = 0.04615 Tongan paʻanga
1 Philippine Peso = 0.07172 Turkish Lira
1 Philippine Peso = 0.13487 Trinidad Tobago Dollar
1 Philippine Peso = 0.60472 Taiwan Dollar
1 Philippine Peso = 44.74107 Tanzanian Shilling
1 Philippine Peso = 0.5289 Ukraine Hryvnia
1 Philippine Peso = 72.26014 Ugandan Shilling
1 Philippine Peso = 0.02007 United States Dollar
1 Philippine Peso = 0.56624 Uruguayan New Peso
1 Philippine Peso = 76.29466 Uzbekistan Sum
1 Philippine Peso = 0.20022 Venezuelan Bolivar
1 Philippine Peso = 456.12204 Vietnam Dong
1 Philippine Peso = 2.15295 Vanuatu Vatu
1 Philippine Peso = 0.05162 Samoa Tala
1 Philippine Peso = 11.77599 CFA Franc (BEAC)
1 Philippine Peso = 0.0542 East Caribbean Dollar
1 Philippine Peso = 11.81574 CFA Franc (BCEAO)
1 Philippine Peso = 2.13228 Pacific Franc
1 Philippine Peso = 5.01706 Yemen Riyal
1 Philippine Peso = 0.25808 South African Rand
1 Philippine Peso = 104.16499 Zambian Kwacha
1 Philippine Peso = 7.26415 Zimbabwe dollar

Conglomerates go beyond CSR

Big businesses in the Philippines are the first to respond to disasters more often than not making up for the inadequacies of the government.
 
This was first seen a couple of years ago during the great floods of Ondoy that  highlighted the absence of government presence in the  initial relief operations-these were all done by the private sector.
 
After typhoon Yolanda struck,  conglomerates  set up  a more organized and sustainable way of helping disaster victims.
 
Guillermo Luz, coordinator of the newly-reorganized Philippine Disaster Recovery Foundation (PDRF) said  business has realized that while corporate social responsibility (CSR)  is important during disasters,  it provides only a part of the solution.  He said while CSR measures ( giving out food, medicine packets to victims) are oftentimes  the quickest way of responding to disasters, these are  not the only way. 
 
“Re-investment in the restoration of commercial operations represents a far larger investment than CSR. It can also have far larger impact than CSR,” Luz said.
 
This is why, according to Luz, the PDRF is working on institutionalizing activities that go well beyond CSR:  better urban planning and disaster-preparedness. 
 
After being designated as the country’s permanent private sector vehicle for disaster management, PDRF jumpstarted programs for the rehabilitation of the communities affected by the recent Super Typhoon Yolanda in Eastern Visayas.
 
Generally, CSR efforts are done individually by companies and most of them are targetted to programs/beneficiaries that are related to their businesses. But in the case of the PDRF, responses are done in coordinated and targeted manner to create a larger impact to communities.
 
Luz said PDRF’s contribution in the case of Yolanda is divided into two types of response. The first is CSR and the second is in commercial operations. For CSR, companies are being asked to make contributions in five sectors : education (basically school repairs and construction), shelter (permanent homes), livelihood, water/sanitation/health, and environment. 
 
Still working together with the government through the Presidential Assistant for Rehabilitation and Recovery, these projects will be distributed over 24 geographical areas affected by Yolanda, Luz said. 
 
“The approach here differs from the past in the sense that these are more coordinated and mapped so that companies and the government can keep closer track of where projects are located,” Luz said.
 
For commercial operations, Luz said companies will also be making their investments to get their own businesses restored and moving in the same areas. These may be in such sectors as power and energy, retail/commercial, banking, fuel, telecommunications and other businesses. 
 
When business resumes, communities return to normalcy faster. Commercial operations naturally will have longer, more sustainable impact because they will represent larger investments than CSR and will generate renewed economic activity.
 
In the case of Yolanda, the assistance programs will be limited to the reconstruction period, which is estimated to last around two to three years. 
 
While the assumption is that government has the responsibility to provide aid and private sector is just there to help, these groups share  similar approaches to  disaster responses. 
 
In the case of Yolanda, Luz said PDRF’s approach is similar to government’s in the sense that both of us are focused on the same sectors, education, shelter, livelihood, and health and on the same geographical areas (e.g., Samar, Leyte, Northern Cebu, Northern Negros, Northern Panay, Coron/Busuanga). 
 
But he said the approach is also different in the sense that the government will provide more of the public infrastructure and other public buildings while the private sector will concentrate on some public utilities such as telecommunication services and power and commercial operations.
 
To address specific needs of disaster-hit areas, Luz said businesses have provided relief supplies across disaster-affected areas as well as lent their transport resources and equipment for distribution (e.g., planes, trucks, ships, etc). 
 
He said employees have also helped packing and distributing relief goods. They have also donated cash to relief organizations. 
 
Right now, Luz said PDFR is  in the process of trying to collect the data so it can get a complete inventory of these contributions.
 
“These contributions have helped alleviate the suffering of victims but have not yet brought back normalcy to lives,” Luz said..
 
PDRF was initially formed in the aftermath of typhoons Frank, Ondoy, and Pepeng in 2009 but following the earthquake in Bohol and Cebu, the fighting in Zamboanga City and the devastation caused by Typhoon Yolanda in the Visayas regions, PDRF became the primary vehicle of the private sector for coordinating its efforts in disaster preparedness and response.
 
PDRF is composed of leaders of some of the country’s largest private corporations and leading NGOs. Philippine Long Distance Telephone Co. (PLDT),  Ayala Corp.  Metro Pacific Investments Corp. (MPIC), and  Aboitiz Equity Ventures Inc. in fact spearheaded the establishment of a permanent private sector vehicle for an organized response in times of natural calamities after Super Typhoon Yolanda.
 
 “Recent events have highlighted the fact that the Philippines is one of the most disaster-prone countries in the world.  We must become much more adept at dealing with calamities – both natural and man-made. The private sector has an important role to play in making our country more resilient,” said Manuel Pangilinan, chairman of MPIC and PLDT and  who co-chairs of PDRF.
 
Business organizations which are also taking part in these efforts are  the Philippine Chamber of Commerce and Industry (PCCI), Makati Business Club (MBC), Management Association of the Philippines (MAP), Bankers’ Association of the Philippines (BAP), non-government organizations (NGOs) to have a better organized private sector response during disasters.
 
Ayala chairman and chief executive officer Jaime Augusto Zobel de Ayala are co-chairs PDRF with Pangilinan  while Manila Archbishop Luis Antonio Cardinal Tagle is also co-chairman of the body.
 
Other members of the PDRF board include Aboitiz Equity Ventures president Erramon Aboitiz, Energy Development Corp. chairman Federico Lopez, Shell  country chairman Edgar Chua, Magsaysay Maritime Corp. president and chief executive officer Doris Magsaysay-Ho, Land Bank of the Philippines president Gilda Pico, and Philippine Investment Management Inc. president Ramon del Rosario Jr.
 
Just more than two weeks after Typhoon Yolanda, SM Prime Holdings, Inc. (SMPHI) and the United Nations International Strategy for Disaster Reduction (UNISDR)  hosted  for the second time, the Top Leaders Forum in a very timely topic: resiliency.
 
The Top Leaders Forum held at the SMX Convention Center last November  22  gathered  over 30 CEOs and top managers across different sectors and industries in the country and talked about the new challenges presented by a steadily and dangerously changing climate to businesses.  
 
With the theme “Increasing Private Sector Resilience Through Informed Business Practices and Investment – Incentives for Resilient Investment , the Forum became a platform for SMPHI and UNISDR to call on the private sector to proactively invest in disaster resiliency.
 
Hans Sy, president of SMPHI said investments in disaster resilience among private companies is now a “humanitarian imperative” as local communities struggle to prepare for natural calamities. 
 
“Disaster resilience is no longer prioritized only to protect commercial interests. It has now become bigger than that,” said Sy, who represents the country as member of the UNISDR  Private Sector Advisory Group (UNISDR PSAG). “It has become a humanitarian imperative and a commitment to contribute to economic sustainability of the communities beyond our corporate walls.”
 
According to Sy, heavy investments in disaster resilience not only ensure the longevity of company-owned assets, but also the safety of communities where the company operates. Case in point is the water catchment system built in select SM malls to collect rain water and help prevent flash flooding.
 
 Moreover, Sy pointed to SMPHI’s own experience in constructing shopping centers such as SM Marikina and SM Muntinlupa that are designed to resist natural disasters. “We adopted different aspects of disaster risk management, employed competent approach to sustainable operations and put business continuity plans in place,” he said.
 
Sy said the impact of disasters has become an issue of growing concern not only in the developing countries like the Philippines but all throughout the world.
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