An Anti Mining Church Must Not Invest in Mining Companies -- PK!

Catholic Church has billions invested in BPI, Philex, San Miguel

For most of us, it’s a given that the Catholic Church is rich. Proofs of that are their sprawling acres of land, large Church structures and buildings, and millions of pesos of cash collected from mass goers every week.

What a lot of people do not know, though, is that part of the Church’s wealth is its investment in the stocks of several Philippine companies. In fact, reports submitted to the Philippine Stock Exchange (PSE) show that the Church and affiliate Catholic groups are the top stockholders in companies such as the Bank of the Philippine Islands (BPI), Philex Mining Corporation (PX), San Miguel Corporation (SMC), Ayala Corporation (AC), and Phinma Corporation (PHN), among others.

The Roman Catholic Archbishop of Manila, for example, owns more than 300 million shares of BPI and is the bank’s 4th largest owner. How much are these shares worth? As of May 2011, this is valued at more than P17 billion. Yes, that’s seventeen billion pesos, with a B.

Aside from banking, the Roman Catholic Archbishop of Manila, together with its subsidiary hospitals and companies, is also invested in mining and construction.

As of March 31, 2011, it is the top 15th shareholder of Philex Mining Corporation (PX), the country’s biggest mining firm. It owns 3.2 million shares of PX currently worth more than P66 million.

Table: Stock Investments of Catholic Church and affiliate Catholic Groups

	Company	# Shares Owned	Rank in Top 100	Total Investment Value
ROMAN CATHOLIC ARCHBISHOP OF MANILA	Bank of the Philippine Islands (BPI)	222,843,681	4th	12,724,374,185
ROMAN CATHOLIC ARCHBISHOP OF MLA (REAL CASA DE MISERICORDIA)	Bank of the Philippine Islands (BPI)	41,408,841	8th	2,364,444,821
ROMAN CATHOLIC ARCHBISHOP OF MANILA (HOSPITAL DE SAN JUAN DE DIOS)	Bank of the Philippine Islands (BPI)	22,072,182	13th	1,260,321,592
ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSPICIO DE SAN JOSE)	Bank of the Philippine Islands (BPI)	6,016,624	15th	343,549,230
ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSP DE SA JUAN DE DIOS)	Bank of the Philippine Islands (BPI)	4,285,572	17th	244,706,161
ROMAN CATHOLIC ARCHBISHOP OF MLA (MAYORDOMIA DELA CATEDRAL)	Bank of the Philippine Islands (BPI)	2,664,266	21st	152,129,589
ROMAN CATHOLIC ARCHBISHOP OF MLA (ST. PAUL`S HOSPITAL)	Bank of the Philippine Islands (BPI)	1,772,418	26th	101,205,068
CARMEL OF THE DIVINE INFANT JESUS OF PRAGUE, INC.	Bank of the Philippine Islands (BPI)	726,819	49th	41,501,365
EL SUPERIOR DE LA CORPORACION FILIPINA DE PADRES AGUSTINOS RECOLETOS	Bank of the Philippine Islands (BPI)	551,382	60th	31,483,912
ROMAN CATHOLIC ARCHBISHOP OF JARO	Bank of the Philippine Islands (BPI)	491,385	64th	28,058,084
EL SUPERIOR DE LA CORPORACION FILIPINA DE PADRES AGUSTINOS RECOLETOS	San Miguel Corp (SMC)	2,370,000	31st	260,700,000
SUPERIOR DE LA CORPORACION ARCHICOFRADIA DE N.P.J.N DE RECOLETOS	San Miguel Corp (SMC)	1,234,603	75th	135,806,330
CARMEL OF THE DIVINE INFANT JESUS OF PRAGUE, INC.	San Miguel Corp (SMC)	957,516	79th	105,326,760
ROMAN CATHOLIC BISHOP OF TUGUEGARAO	San Miguel Corp (SMC)	856,639	81st	94,230,290
REAL MONASTERIO DE LA PURISIMA CONCEPCION DE NUESTRA MADRE SANTA CLARA DE MANILA	San Miguel Corp (SMC)	809,834	83rd	89,081,740
SUPERIOR DE LA CORPORACION DE PADRES RECOLETOS POR BECAS Y VOCACIONES	San Miguel Corp (SMC)	621,702	89th	68,387,220
CARMEL OF ST THERESE OF THE CHILD JESUS	San Miguel Corp (SMC)	592,956	91st	65,225,160
THE DISCALCED CARMELITE NUNS OF CEBU	San Miguel Corp (SMC)	451,864	95th	49,705,040
ROMAN CATHOLIC BISHOP OF NUEVA SEGOVIA DE VIGAN	San Miguel Corp (SMC)	428,067	98th	47,087,370
ROMAN CATHOLIC ARCHBISHOP OF MANILA	Philex Mining Corp (PX)	3,221,135	15th	66,677,495
RELIGIOUS OF THE VIRGIN MARY - B	Philex Mining Corp (PX)	3,125,777	16th	64,703,584
RELIGIOUS OF THE VIRGIN MARY-A	Philex Mining Corp (PX)	1,091,027	69th	22,584,259
ROMAN CATHOLIC BISHOP OF TUGUEGARAO	Ayala Corporation (AC)	24,015	73rd	9,289,002
KNIGHTS OF COLUMBUS FRATERNAL ASSOCIATION OF THE PHILS, INC.	Ayala Corporation Preferred Shares - A (ACPA)	60,000	2nd	31,800,000
ROMAN CATHOLIC BISHOP OF TAGBILARAN	Ayala Corporation Preferred Shares - B (ACPR)	10,000	64th	1,015,000
DAUGHTERS OF CHARITY OF ST. VINCENT DE PAUL	PHINMA Corp. (PHN)	159,575	19th	2,122,348
ROMAN CATHOLIC BISHOP OF THE DIOCESE OF JUAN DE DIOS	PHINMA Corp. (PHN)	153,880	20th	2,046,604
RELIGIOUS OF THE VIRGIN MARY	PHINMA Corp. (PHN)	58,975	52nd	784,368
ROMAN CATHOLIC ARCHBISHOP OF MANILA	Concrete Aggregates Corp (CA)	78,846	9th	3,469,224
ROMAN CATHOLIC ARCHBISHOP OF MLA (REAL CASA DE MISERICORDIA)	Concrete Aggregates Corp (CA)	13,067	18th	574,948
ROMAN CATHOLIC ARCHBISHOP OF MANILA (HOSPITAL DE SAN JUAN DE DIOS)	Concrete Aggregates Corp (CA)	8,317	24th	365,948
ROMAN CATHOLIC ARCHBISHOP OF MLA (HOSPICIO DE SAN JOSE)	Concrete Aggregates Corp (CA)	1,898	66th	83,512
ROMAN CATHOLIC ARCHBISHOP OF MLA (MAYORDOMIA DELA CATEDRAL)	Concrete Aggregates Corp (CA)	841	97th	37,004
ROMAN CATHOLIC ARCHBISHOP OF MANILA	ISM Communications (ISM)	38,399	48th	126,333
SOCIETY OF THE DIVINE WORD	Filipino Fund Inc. (FFI)	6,000	24th	48,000
ROMAN CATHOLIC BISHOP OF BANGUED	Filipino Fund Inc. (FFI)	1,500	49th	12,000
CATHOLIC WOMENS LEAGUE	Benguet Corp. - A (BC)	215	53rd	4,107
CORPORACION DE PADRES DOMINICOS	EEI	75,000	75th	256,500

* Rank in Top 100 – rank in the Top 100 Stockholders of the Company, a report submitted by the company to the PSE
** Total Investment Value – peso value of total shares owned, as of May 27, 2011 closing prices

Source: Company reports submitted to the Philippine Stock Exchange

Read the full article here: http://www.pinoymoneytalk.com/church-philippines-rich-wealth-stocks/

Partido Kalikasan Commentary:

Roman catholic institutions in the Philippines are investing in mining. This church having been so vocal and political on mining issue must be consistent with its political position. If they are anti mining, they should not be investing in mining corporations.

We call on the Roman Catholic Church to immediately remove their investments in mining. They cannot speak against it if they are earning out of it.

NO TO MINING INVESTMENT BY THE ROMAN CATHOLIC CHURCH! NO TO MINING IN THE PHILIPPINES!

CCT Debt Trap -- Another Reason why Conditional Cash Transfer is Unsustainable!

CCT debt trap? Future of pro-poor deal a poser

Last of Three Parts

IT HAS been described as an “investment in the next generation,” with its supposed results of millions of healthier, better educated Filipinos not expected to be realized anytime soon. But the Conditional Cash Transfer (CCT) program is also an investment that is drawing a substantial chunk of its capital from foreign loans, a fact that has many observers raising red flags.

“The poor of the future will be the ones who will carry the burden of paying off this debt,” says Freedom from Debt Coalition Executive Director Milo Tanchuling, who believes it would be better if the CCT relied on locally sourced funds. That the government is also vague about alternative funding prospects for the program has only made those like Tanchuling uneasy – and wondering if it’s an initiative that is sustainable.

Read the full article here: http://pcij.org/stories/cct-debt-trap-future-of-pro-poor-deal-a-poser/

Partido Kalikasan Commentary:

Partido Kalikasan (Phil Green Party) agrees with PCIJ in their analysis of the CCT (Conditional Cash Transfer).

We criticize the social equity strategies and goals of the government as remaining dependent on dole-out systems such as conditional cash transfers which will only be effective in the short-term but will be unsustainable in the long term.

The PCIJ report clearly shows that CCT draws substantial chunk of its financing from foreign loans. This only reiterates the unsustainable nature of this anti poverty strategy.

We do not see this changing soon as event the recently approved PDP (Phil Devt Plan 2011-2016) continue to have more of this short-term social safety nets and remain weak on the more fundamental asset reform requirements.

We do not need a debt-increasing, short-term anti poverty strategy. What we need is stronger political support to the completion of agrarian reform and making agrarian reform communities economically viable; long-term solution to the plight of informal settlers; municipal water delineation; building the institutional capacity of agencies tasked at upholding IP rights to their ancestral domain and the further strengthening of community-based forest management.

Partido Kalikasan (Phil Green Party) Preliminary Comments to the Philippine Development Plan (2011-2016)

Last May 27 as the joint forum-consultation of PKI (Eco Sustainability Institute) & NEDA on the Philippine Development Plan (PDP 2011-2016) and Low Carbon Economy was going on, NEDA (National Economic Development Authority) uploaded in their website the final copy of the Philippine Development Plan (PDP 2011-2016).

You can download a copy here

Partido Kalikasan welcomes this long-awaited finalization of the PDP. " Now we can determine which part of this government we can support and which part we will need to expose and oppose!" says Roy Cabonegro, PK Secretary-General.

After much criticism by many groups; including PK on NEDAs setting aside many inputs previously agreed in consensus in many previous consultations and instead pursuing its single-minded affirmation of neo-liberal development paradigm, government has largely been silent on the last few months over the finalization process of the PDP. Many groups were unable to further promote their critical views on the previous drafts because suddenly the consultation spaces closed up.

During initial presentations of NEDA to the President and legislators, copies of the latest draft were leaked and many groups; including PK came out with strong public statements on what they saw was the turn-around of previous agreements and the inclusion of many positions that we strongly opposed in the latest draft.

Below is a copy of PKs public statement dated 30 March on the PDP draft during that time:

OFFICIAL STATEMENT

30 March 2011

The MTPDP As Is May Not Be Sustainable!


PARTIDO KALIKASAN do not welcome the adoption of the Medium Term Philippine Development Plan (2011-2016)in its current form.


We believe that with its continued focus on further natural resource utilization; like large scale commercial mining and its insufficient goals and strategies for food self-sufficiency and sustainable development of our marine and coastal resources, the current formulation of the MTPDP negates its very declared goal of inclusive development .


In the face of continuing ravages of climate change impacts, the mode of development that the country must take is that of conservation, protection and rehabilitation and not further utilization of our natural patrimony.


While we welcome targets for continued infrastructure development, improved financing; with the current emergency mode brought about by the ill effects of climate change impacts,these must now be channeled to improving our resiliency to natural disasters,reducing risk and overall adoption to climate change.


The high annual development growth rate target of 7-8% will drive the need for cheap but verydirty energy sources like coal fired power plants that will negate the national policy to move to renewable energy sources.
Social equity strategies and goals that remain dependent on dole-out systems such as conditional cash transfers will only be effective in the short-term but will be unsustainable in the long term. The current MTPDP have more of this short-term social safety nets and remain weak on the more fundamental asset reform requirements.



What we need is stronger political support to the completion of agrarian reform and making agrarian reform communities economically viable; long-term solution to the plight of informal settlers; municipal water delineation; building the institutional capacity of agencies tasked at upholding IP rights to their ancestral domain and the further strengthening of community-based forest management.

For more Information:

Roy Cabonegro (Mr.)
Secretary-General
Email: rcabonegro@...
Cellphone 0999 7541637

----

A thorough review of the PDP will now be conducted by PKI and PK and we are going to issue a public statement soon.

The PKI Series of Round Table Discussions on "NATIONALIST GREEN DEVELOPMENT" with leaders of PK and NEPA starting this June as well as the continuing Island-Region consultations on the Operative Framework for Low-Carbon Economy in the Philippines which PKI is implementing in behalf of Aksyon Klima Pilipinas this coming June will be utilize to broaden consultation on the Party's analysis and positions on the PDP.

The next stage in Greening the Philippine Development Framework ("Greening the MTPDP Campaign") for Partido Kalikasan is influencing the Result Matrix of the various sectoral plans of the line agencies of government towards the National Annual Investment Plan (AIP) and the Annual National Budget; starting with the National Expenditure Program (NEP or the President's Budget).

We call on all Party leaders, members and supporters to continue to participate and extend their political, logistical/financial and moral support in this campaign to GREEN PHILIPPINE DEVELOPMENT.

For more inquiries or to volunteer, please email partidokalikasan@yahoo.com or send an SMS to 0999 7541637

Partido Kalikasan-Phil Green Party supports AKBAYAN privilege speech on the plight of small fisherfolks & actions needed

Rich Resources, Poor Protection; Poverty Amidst Wealth: The Philippine Fisheries Resources And The Filipino Fisherfolks

Privilege Speech of Rep. Kaka Bag-ao, AKBAYAN Partylist

Mga ginagalang kong kapwa mambabatas, magandang gabi sa inyong lahat. Today, I rise on a matter of personal and collective privilege, to speak on behalf of one of the poorest sectors of our society, the Filipino fisherfolks. It is an opportune time to raise the concerns of the fisherfolks of our country today as we are already at the tail-end of the month of May, which was declared as Ocean Month by virtue of Presidential Proclamation No. 57 series of 1999.

As an archipelago, the Philippines has an estimated 2.2 million square kilometres of sea and around 18,000 kilometers of coastline. It is blessed with abundant marine and aquatic resources that are rich in bio-diversity and value. Our seas, rivers and lakes are among our country’s coveted wealth that has made us among the world’s largest 40 fish producing countries. In fact, we have been in the honor roll in terms of the world’s production of fish, crustaceans, molluscs, and aquatic plants where we ranked 8^th in 2003 and in 2006, and our lowest is rank 14 in 1997.

Read full speech here: http://attykaka.wordpress.com/2011/05/30/rich-resources-poor-protection-poverty-amidst-wealth-the-philippine-fisheries-resources-and-the-filipino-fisherfolks/

Partido Kalikasan Commentary:

Partido Kalikasan supports this statement of AKBAYAN. We agree on the analysis and recommendations. We are particularly concern that there is not enough social services and asset reforms; including sustainable protection of fishing grounds and priority access, of small farmers. We will support the budget advocacy to benefit small farmers; particularly those that will prepare fisher folk communities and coastal communities adopt to the ill effects of climate change.

Partido Kalikasan welcomes Germany's decision to quit nuclear by 2022!

Shutdown: The Grafenrheinfeld plant, Bavaria, Germany. All 17 of the country's nuclear plants will be shut by 2022

Germany is to shut its entire nuclear power network over safety fears triggered by the meltdown of the Fukushima atomic plant in Japan.

Chancellor Angela Merkel announced that her country will pull the plug on nuclear energy by 2022.

Germany – a country without natural gas or oil supplies and virtually no domestic coal industry left – is the biggest industrial power to give up nuclear energy.

Read more: http://www.dailymail.co.uk/sciencetech/article-1392359/Germany-pledges-nuclear-shutdown-2022-following-Fukushima-disaster.html

Partido Kalikasan Commentary:

Partido Kalikasan ‎(Phil Green Party) welcomes this development in Germany. Our congratulations also to the German Greens who have pushed the phase-put of nuclear power in Germany for a long time. We hope this will further encourage anti-nuc...lear constituencies in the Philippines to continue to oppose nuclear energy program in the country. We are mobilizing on June 11 3pm-730pm as part of the JUNE 11 ACTION- NO NUCLEAR! -- a global solidarity campaign initiated by Japanese anti nuke campaigners being supported by the Asia Pacific Greens Network (APGN). This is 3 months after the ongoing Fukushima nuclear disaster began. Local PK groups nationwide will organize various mass actions. YOU ARE INVITED. Email partidokalikasan@yahoo.com or send an SMS to 0999 7541637

Partido Kalikasan (Phil Green Party) Talisay City coordinator appointed.

Partido Kalikasan Northern Mindanao Bioregional Assembly Social Web being developed at http://ping.fm/QAUXA

Partido Kalikasan Mega Manila Bioregional Assembly Social Web being developed at http://ping.fm/BVCta

Partido Kalikasan Coordinators for the cities/towns of San Jose, Bocaue, SFDM, Las Pinas, Marikina, Pagbilao, Dagupan appointed!

Join the Partido Kalikasan Public Forum on the Phil Devt Plan on May 27: http://ping.fm/Bxwma

Partido Kalikasan members social web in grouply is being prepared at http://ping.fm/RxYhZ

All eligible Filipinos are invited to join Partido Kalikasan (Phil Green Party) http://ping.fm/5Byua

PK Membership Recruitment Exhibit

PK Membership Recruitment Exhibit, a set on Flickr.

Partido Kalikasan (Phil Green Party) needs more volunteers to help with our social webs. Pls send YM to partidokalikasan or email partidokalikasan@yahoo.com thnks!

Partido Kalikasan (Phil Green Party) convenors in Barlig, Tabuk, Cabangan, Sibuyan, Victoria, Bacolod, Boac, Puerto Princesa, Cagayan de Oro, Tacurong affirmed.

Partido Kalikasan (Phil Green Party) supports the Reproductive Health Bill to ensure maternal & child care & manage population!

Partido Kalikasan (Philippine Green Party) needs volunteers for its many internet work. Pls send YM to partidokalikasan w your name & email. TY

Pausing our posts for the next 8 hours. No more volunteer available for now. For any concern, send a YM to partidokalikasan or email partidokalikasan@yahoo.com

Filing of the Minerals Management Bill (Dec 2010)

Filing of the Minerals Management Bill (Dec 2010), a set on Flickr.

Partido Kalikasan (Philippine Green Party)'s photostream

Partido Kalikasan (Philippine Green Party)'s photostream on Flickr.