When you see the new skyways, highways and other expanding infrastructure in the Philippines, look to Japan as the source of many loans that helped build them. The country’s foreign debt is at a record US$125.4 billion as of last December. There is interest to be paid on that, and most of the loans came from Japan, the world’s third-biggest economy, and the Asian Development Bank. The money is paid to Philippine corporations to build airports, bridges, roads and other infrastructure.
Ranked at 72 on the Global Finance poverty index, the Philippines is one of the poorest countries in the world today, with 20 million Filipinos in dire poverty.
The root causes of this poverty are well-documented. It starts with a corrupt political system where powerful political dynasties [with some exceptions] control an incompetent and somewhat immoral government with politicians who circumvent the rule of law for their own gain. Money that could be used to lift the poor out of poverty, for example, is instead spent buying votes.
Then there’s the massive inequality in wealth distribution. A tiny percentage of the country’s population of 115.6-million owns 46 per cent of the national wealth. Read the research of Andrew J. Masigan. There are 17 known Filipino billionaires and 19,000 millionaires in 2021. The latter figure is expected to increase to about 33,000 by 2026.
The super rich in the Philippines have the power to positively impact the lives of the country’s poor population. They can achieve this by sharing their wealth and supporting development programs that create well-paying jobs for the estimated 1.6 million unemployed adults. This would help the 20 million impoverished, abused, exploited, and hungry Filipino women and children.
Ranked at 72 on the Global Finance poverty index, the Philippines is one of the poorest countries in the world today, with 20 million Filipinos in dire poverty
Following the example of Zacchaeus, the corrupt tax collector who changed his heart and mind after meeting Jesus, the super rich should consider sharing their wealth and resources. While giving half of their wealth might be too much to ask, they can still make a significant difference by contributing in ways they can.
c. The country is the world’s biggest importer of liquefied natural gas [LNG]. Relying on this energy source now makes Japan far from carbon-neutral.
The LNG is harmful to the environment and contributes to global warming. Instead of expanding its use to generate electricity, renewable sources of energy should be prioritised. Japan is currently looking towards the Philippines to meet its gas demands, as our country has vast and untapped resources.
Tasked with securing these resources is Tadashi Maeda, chairperson of the Japan Bank for International Cooperation (JBIC), owned by the Japanese government. He has met with the president, Ferdinand Marcos Jr., in Malacañang.
As we celebrate the 500 years of Christianity in the Philippines. The Chaplaincy to Filipino Migrants organises an on-line talk every Tuesday at 9.00pm. You can join us at:
https://www.Facebook.com/CFM-Gifted-to-give-101039001847033
It was announced that Maeda already had meetings with Aboitiz Group chief executive officer, Sabin Aboitiz, San Miguel Corp. president, Ramon Ang, and Metro Pacific Investments Corp. chairperson, Manuel Pangilinan.
These Philippine billionaires and their companies are already committed to tapping renewable energy for the Philippines, phasing out fossil fuels to save the Earth, and meeting the country’s commitments to the 2015 Paris Agreement and COP23.
The Philippines is rich in natural resources. In contrast, Japan has almost none, so their loans are loaded with self-interest. Japan provides 80 per cent of all low-cost loans to the Philippines. Since the Fukushima Daiichi Nuclear Power Plant disaster struck March 2011, its power supply has been greatly impacted. In response, Japan turned to its other power source: gas
If the Philippines enters into deals with the Japanese development plan—known as thecAsia Zero Emission Community [AZEC] it would be seen as a betrayal and reversal of the progress made by the country. The plan involves drilling for fossil fuels and exporting them to Japan, which could put both Marcos and the giant corporations involved in a difficult situation. Their credibility and trustworthiness would be at stake.
They need to cooperate with Japan, rely on low-cost loans, get huge business contacts in the Philippines and Japan, and be faithful to their announced policies and commitments to phase out fossil fuel production and use—not to support its expansion.
The sweetener to get approval and cooperation is the audacious and disgusting promise by an unnamed Indonesian tycoon bearing promises of gifts of low-cost housing and a billion-peso hospital to help the president with his social development projects, a Malacañang spokesman said.
The Earth has set a new record for global warming this year, which has caused concern among environmentalists regarding a proposed deal to drill for fossil fuels. The continuous burning of fossil fuels, coal, gas and oil for the past century has led to environmental disasters, with the poorest members of society being the most affected.
The planet is currently experiencing the highest temperatures ever recorded in history, with last year being the hottest on record. Unfortunately, it is expected that 2024 will be even worse. Some leaders prioritise their national interests over addressing global warming.
The Philippines is being pushed to be part of AZEC rather than working towards zero emissions. So, AZEC is promoting a big scam. The bigger the scam, the more people will believe it.
The most vocal critic is Gerry Arances, executive director of the Centre for Energy, Ecology and Development. He said, “AZEC has been repeatedly denounced as a ploy to promote detrimental energy in developing countries in Asia, particularly with fossil gas and unproven fossil friendly technologies.”
The efforts to get major Philippine corporations to work with AZEC are detrimental to the goal of stopping burning fossil gas and reducing emissions. The opposite is absolutely necessary to save the planet and the poor from environmental disasters.
The renewable energy projects of the above mentioned corporations are laudable, but backing fossil fuel development at the same time would make them look like idiots on the world stage and seriously damage their reputation if they go along with the AZEC plan. They can just be polite and friendly to Japan and say yes and do nothing.
Father Shay Cullen
www.preda.org
