First Gen Corp. and the ABS-CBN Foundation signed a memorandum of understanding (MOU) with the Department of Environment and Natural Resources (DENR) and the Department of Energy in a partnership for the conservation, protection and enhancement of biodiversity and coastal marine resources of the Verde Island Passage (VIP).
VIP is a critical waterway known as center of the center of the world’s marine shore fish biodiversity located between Luzon and Mindoro islands.
DENR Secretary Maria Antonia Yulo Loyzaga said that prior to this MOU, the Lopez Group has already been safeguarding the VIP for 20 years.
“This agreement underscores the Lopez Group’s unwavering support and advocacy for the conservation of the Philippines’ natural resources, particularly the vital marine biodiversity found within the VIP. By partnering with the private sector, the government aims to strengthen its initiatives to protect the ecosystem. This collective effort not only benefits the coastal communities surrounding the VIP but also ensures a sustainable environment for future generations of Filipinos,” Loyzaga said.
Federico Lopez, First Gen chairman and chief executive officer, added that support for VIP also adheres to the company’s goal to pursue “a decarbonized and regenerative future” as it will better protect VIP’s marine and coastal areas.
Prior to this MOU, the DENR and the DOE also had a similar agreement with Metro Pacific Investment Corp., Aboitiz Equity Ventures and San Miguel Corp
Similar to the previous MOU, the agreement with First Gen also calls for the signatories to collaborate with local government units, non-government organizations, the academe, international development agencies, coastal communities, people’s organizations and other private entities for the protection and enhancement of the biodiversity and coastal marine resources on the VIP.
