The infrastructure arm of Metro Pacific Investments Corp. (MPIC) is looking at green financing to support the sustainability efforts for the 45-kilometer Cavite-Laguna Expressway (Calax) project in the next three years.
Christopher Lizo, Metro Pacific Tollways Corp. (MPTC) chief finance officer and senior executive sponsor for sustainability, said the company is considering green financing once construction of Calax is completed in the next three years.
“It is something that we think into in the next three years, as we complete Calax, all of these initiatives contribute to our aspiration to have the very first green financing activity here in the country for a toll road project,” Lizo said at the virtual partnership signing between Metro Pacific Tollways South Management Corp. (MPT South) and the United States Agency for International Development’s Sustainable Interventions for Biodiversity, Oceans and Landscapes (SIBOL) project for Calax.
When asked how much the company intends to raise, Lizo said, “we have financing in place for the completion of Calax, the idea is to consider green financing to refinance our loans in Calax. …with green financing comes an obligation, to keep and maintain certain standard in terms of our commitment to make the road sustainable.”
For now the company’s focus is to complete the Calax project as scheduled.
“It’s a major term aspiration, it’s not something that we can do tomorrow. We need to complete the construction of Calax first. Second, we need to have sustainability and consider looking at green financing, it’s a medium term aspiration for all of our sustainability program,” Lizo said.
Meanwhile, the SIBOL project aims to further its sustainability efforts to turn Calax into a “green highway.”
Through the partnership, MPT South and USAID SIBOL, a natural resources management and biodiversity conservation project, will collaborate on a biodiversity program that will improve natural resources management — tree planting activities to be undertaken in Calax; advanced science-based decision making; fostering community engagement and promoting good environmental practices; and transforming Calax’s biodiversity program as an income-generating project of communities.
Calax is a high-speed road network connecting the two provinces of Cavite and Laguna, targeting to serve around 45,000 motorists upon its completion. As of today, Calax operates from Biñan, Laguna up to the east of Silang, Cavite.
“We are grateful to USAID SIBOL for allowing us to tap into their pool of knowledge and expertise so that we can make science-based and nature-centered decisions as we move towards our goal of turning CALAX into a green highway,” said Roberto Bontia, MPT South president and general manager.
The agreement with MPT South is in line with USAID SIBOL’s goal of improving biodiversity conservation by working towards voluntary industry standards and replicating the rewilding model in similar projects.
The project works with government agencies, academia, local communities and the private sector in turning this objective into concrete activities that positively impact the environment.
“Protecting the environment, natural resources, and ensuring their capacities to sustain life for generations to come should be a collective effort. Environmental issues such as climate change and habitat loss are concerns not exclusive to the purview of the government, advocacy groups, academia, or conservation and development partners such as USAID SIBOL. These issues also affect businesses, livelihoods, communities, and ordinary people,” said Dr. Ernesto Guiang, USAID SIBOL chief of party.
“That is why we are grateful for this partnership with MPTC as it speaks of the goodwill of the private sector in collaborating with other stakeholders and taking tangible steps to promote environmental sustainability, biodiversity conservation, and climate resiliency in the Philippines,” Guiang added.
Earlier this year, MPT South announced its plan to showcase MPTC’s role in decarbonizing the transport sector in the country through converting its expressways to more sustainable highways in adherence to the company’s commitment to climate action.
MPTC’s Green Highway Initiative in Calax aligns with MPIC’s sustainability efforts that support the United Nation’s Sustainable Development Goals (SDG), particularly in upgrading all industries and infrastructures to make them sustainable (SDG 9).
Aside from Calax, MPTC also holds concession rights for Manila-Cavite Expressway, North Luzon Expressway, Subic-Clark-Tarlac Expressway, NLEX Connector Road and the Cebu-Cordova Link Expressway.
