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News > Semirara sets P320-M CSR budget

Semirara sets P320-M CSR budget

Integrated energy company Semirara Mining and Power Corporation (SMPC) is allotting P320 million for its host community projects this year.

In a statement, the firm said the spending is in line with the company’s 5Es program which aims to reduce poverty and facilitate development in its host community using a sustained, holistic approach.

“We expect our CSR spending to grow by around 75% compared to last year’s P186 million because we are building more community infrastructure and livelihood facilities,” said SMPC President and COO Victor A. Consunji.

A majority of the planned expenditure, or about P200 million, will be used to construct community and livelihood facilities such as evacuation centers, community park, sea port, river walk, and sports facilities.

Another P65 million will be spent on environmental stewardship projects, which include the establishment of a Semirara Biodiversity Center and progressive inland and mangrove area reforestation.

The rest of the CSR budget will be used to fund community nutrition initiatives in Calaca, Batangas.

“We are closely working with the Department of Energy and the host communities to ensure that our CSR efforts are aligned with the national and local government’s priorities. We want to implement projects that best respond to their needs,” added Consunji.

The SMPC 5Es program includes initiatives that address Education and Training, Environmental Stewardship, Employment and Livelihood, Electrification and Basic Infrastructure, and Emergency Preparedness.

In 2015, the 5Es program of SMPC became a Finalist under the CSR category of the prestigious Platts Global Energy Awards, touted as “the Oscars of the energy industry.“

 

Source: Manila Bulletin