SMPC Allots PhP186M for CSR
Makati—(PHStocks)—Semirara Mining and Power Corp. (SMPC, PSE: SCC) is setting aside PhP186.3 million this year for its 5Es corporate social responsibility (CSR) program in Semirara Island, Antique.
The said CSR program focuses on education and skills training, environmental stewardship, economic empowerment, electrification and community infrastructure, and emergency preparedness.
More than half of its budget or PhP100 million will be used to construct 17 evacuation centers, 12 classrooms for the implementation of the K-12 program, a seaport and an ice storage plant to support the local fishermen.
Around PhP30 million will go to the company’s marine biology and other environmental initiatives. To promote reef rehabilitation and aquatic biodiversity in the island, SMPC has been reseeding endangered giant clams since 2006. To date, it has reseeded over 38,000 giant clams in the area.
SMPC will invest the remaining PhP56 million to build community facilities that will promote health and wellness among the island residents.
“We are committed to creating shared value for our host communities through our 5Es program. Our goal is to provide them with growth opportunities and an enabling environment so they can improve their quality of life,” said SMPC President and COO Victor A. Consunji.
Last year, the 5Es program of SMPC was selected as a Finalist under the CSR category of the Platts Global Energy Awards, dubbed as “the Oscars of the energy industry”.
The CSR program was chosen after it was shown to have resulted in high-value employment, reliable electricity, potable water, well-maintained schools, better infrastructure and a thriving local economy for the host community.
