STO TOMAS City -- The Japan Bank for International Cooperation (JBIC) is facing severe criticism from environmental activists and local fishermen for its $100 million investment in AG&P International Pte. Ltd. and Linseed Field Power Corporation's natural gas import terminal in Batangas City.
The move is being challenged due to perceived contradictions with JBIC's sustainability goals.
The Protect Verde Island Passage (VIP), an environmental advocacy group, along with a coalition of fishermen, confronted JBIC regarding its funding, pointing out potential violations related to cutting coconut trees, land conversion, and environmental non-compliance by Linseed.
Protect VIP has filed five complaints against Linseed, raising concerns about the project's impact on the environment.
Local fishermen also expressed apprehensions about the LNG terminal project, fearing a scenario reminiscent of the MT Princess Empress oil spill.
Protesters from Protect VIP gathered in front of JBIC's Manila office, holding placards with the message "Gas is not kawaii" (cute) to voice their discontent.
Gerry Arances, co-convenor of Protect VIP and executive director of the Center for Energy, Ecology, and Development, emphasized that there is nothing cute about violating the law, referring to Linseed's actions that JBIC seemingly tolerates.
Formal complaints have been lodged at the JBIC office, alleging violations of Philippine laws and JBIC's own investment rules by the Linseed LNG project.
Arances called out JBIC for violating its self-imposed sustainability investment rules and urged the institution to withdraw its fossil fuel funding while being held accountable for legal shortcomings.
The report highlights the contradiction between Japan's potential leadership in international finance for a sustainable future and the allegations that profit motives take precedence over ethical and environmental responsibilities.
Fr. Edwin Gariguez, Protect VIP Convenor, warned about the environmental threat posed by LNG transport through VIP, disrupting the local way of life and jeopardizing both livelihoods and the environment.
Photo courtesy of the Manila Bulletin
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