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Thursday, June 12, 2008

News: DBP Launches Initiatives for Strategic Sectors

State-owned Development Bank of the Philippines (DBP) launches today new initiatives on health care, corporate governance, and the environment as part of its traditional Independence Day celebration at the DBP headquarters in Makati City.
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DBP will sign an agreement with UK-based CarbonAided Limited for the registration of a number of mini-hydro power projects under the Clean Development Mechanism (CDM) of the Kyoto Protocol. CDM registration entitles project owners to profit from the sale of carbon emission reduction credits that result from the implementation of their projects.

The projects to be registered under the CDM are the Hinubasan Minihydro Power Project in Dinagat Island; Cantingas Minihydro Power Project in Romblon; and the Sevilla Minihydro Power Project in Bohol.

David said the initiative enables the projects to generate an estimated emission reduction of 15,000 tons of CO2 a year, translating to about US$150,000 additional income to minihydro power project owners. He added that the initiative is a breakthrough for DBP, with the income generated also benefiting the host communities of the said minihydro power projects. Full story.

1 comment :

rex malbacias said...

that's a good news!! when do these project starts?