Leading energy company Shell Pilipinas Corporation (SPC) signed a Memorandum of Understanding (MOU) with the Department of Environment and Natural Resources (DENR) to signal collaboration on the identification and development of Nature-Based Solutions (NBS) opportunities in the Philippines.
NBS comprises activities related to the protection and enhancement of natural ecosystems – such as forests, grasslands, wetlands, and coastal zones – or projects that improve agricultural sustainability to help absorb or prevent the release of greenhouse gases, while also delivering benefits to local communities and enhancing biodiversity of the area.
SPC President and CEO Lorelie Quiambao-Osial spoke of the impact that partnerships can make especially in protecting the environment, saying, “It’s a significant moment where different sectors are coming together to make a positive difference.
Shell and DENR are aligned in developing NBS and focused on the protection, restoration, and regeneration of the country’s environment and natural resources.
DENR Secretary Maria Antonio Yulo-Loyzaga said “the collaboration with SPC is significant, we all have a stewardship role in terms of protecting our national resources, and we deeply value this opportunity to work together to achieve our goals for a climate and disaster-resilient country and planet.”
Under the MOU signed by Ms. Quiambao-Osial and DENR Sec Yulo-Loyzaga, both organizations will explore integrated carbon and development opportunities in the Philippines. They will also work together to document processes and activities that the agency can use as a reference to develop programs, policies, and regulations related to NBS carbon projects.
This collaboration supports DENR’s National Greening Program under Executive Order No. 193 for climate change mitigation and adaptation through the restoration and protection of unproductive, denuded, and degraded forestland in the country.
The Shell Pilipinas Corporation (SPC) and DENR collaboration is aligned with Shell’s commitment to become a net-zero emission business by 2050. SPC is transforming its business to meet its target by avoiding and reducing emissions from its operations and from the fuels and other energy products it sells to its customers.