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The Securities and Exchange Commission (SEC) has granted Alternergy Holdings Corp. the Green Equity Label, making it the first listed Philippine company to earn this recognition.

The designation honors listed companies or those planning to go public that generate over 50 percent of their revenues from green activities and direct more than half of their investments toward them.

Alternergy president Gerry Magbanua said an external report from accounting firm SyCip Gorres Velayo and Co. verified the renewable power firm’s compliance with the SEC’s requirements for the label.

The report showed that 100 percent of Alternergy’s revenues were derived from clean energy, with more than 90 percent of its operating and capital spending dedicated to green activities.

‘Alternergy is a pure-play renewable energy developer, dedicated exclusively to clean power generation, which directly aligns with the requirements of the SEC certification,’ Magbanua said.

‘We commend the SEC for its recent issuance of Green Equity Label guidelines that aim to usher in more sustainability investors and grow the capital market for green initiatives, which Alternergy could tap for our future equity financing needs,’ he added.

According to a memorandum circular issued in September, the SEC said the Green Equity Label is designed to increase the visibility and attractiveness of companies committed to green activities.

These initiatives include economic activities that are environmentally and socially sustainable.

‘By identifying and recognizing these businesses, the Philippine Green Equity Label aims to direct capital flows toward enterprises that demonstrate environmental stewardship,’ the corporate regulator said.

Debuting on the Philippine Stock Exchange in 2023, Alternergy has positioned itself as one of the fastest-growing renewable power developers in the country.

Currently, the company’s portfolio includes wind, run-of-river, battery storage, solar farm and commercial rooftop, aiming to achieve at least 500 megawatts of renewable electricity capacity by 2026.

With the aim to spark conversations on saving, Metrobank posed the question: ‘Para saan ang ipon mo?’ among Filipinos in key lifestyle and business hubs in the metro.

Printed on bold statement shirts, oversized tote bags, oversized newspapers and cookies-Metrobank ambassadors asked Filipinos to scan a QR code that led to a survey seeking to uncover the many reasons Filipinos save.

Hundreds of Filipinos shared their aspirations on the survey, which spilled over to their social media accounts-from planning that long-awaited barkada trip, to building an emergency fund, to launching a small online business. The message was clear: every Filipino has a goal worth saving for.

Riding this conversation is the launch of Metrobank’s eSavings account. Now, Filipinos can easily and securely kick-off their savings journey with Metrobank.

Go from goal-setting to goal-getting

Forget the long lines and paperwork-Metrobank now allows new accountholders to easily and securely open a savings account in 10 minutes through the Metrobank app.

Metrobank eSavings is a secure digital account that allows first-time Metrobank deposit clients to save, manage, and grow their money. More than that, with just a P2,000 minimum deposit balance, accountholders get access to a suite of benefits to save smarter and achieve their long-term goals with ease.

Enjoy these perks when you open a Metrobank eSavings account:

Interest of up to 4.5% p.a.* on your savings when you avail of Online Time Deposit: By placing your funds on Metrobank’s online time deposit feature, you’re giving your savings an extra boost. Metrobank offers flexible holding periods for your funds-ranging from one month, so you can access your funds easily, to one year, so your funds can yield higher interest. For more details, visit https://www.metrobank.com.ph/accounts/time-deposit

InstaPay fee rebates of up to 4x a month: Everyday transactions are made lighter on your wallet as you get rebates on the fees for four InstaPay transfers each month.

Free 1 year AXA Life Insurance: If you open a Metrobank eSavings account until December 31, you get a one-year life insurance coverage that’s worth double the average amount of your average daily balance (ADB) in the past three months, giving you peace of mind from life’s uncertainties.

Your Metrobank eSavings account not only allows you to get closer to your savings goals-it also serves as the first step towards having a trusted financial partner in achieving your long-term goals.

Now that you’re a Metrobank client, it’s easier for you to secure your first credit card, a home loan for your first condo, or an investment to grow your money to new heights.

With Metrobank, you have a reliable growth partner, helping you save not just for today’s goals, but for your future self.

Make the move your future self will thank you for. Open a Metrobank eSavings account now via the Metrobank App-download it today on the Apple App Store and Google Play Store.

The Independent Commission for Infrastructure submitted its third report to the Office of the Ombudsman on Tuesday, November 4, flagging a P72.3-million so-called “ghost” flood control project in Bulacan that was reportedly paid in full despite not being built at its intended site.

The project in question was implemented by the Department of Public Works and Highways (DPWH) Bulacan First District Engineering Office through contractor Topnotch Catalyst Builders Inc, according to a briefer shared by the ICI and the actual interim report it submitted to the Ombudsman.

According to the ICI, the project was among numerous so-called “ghost” flood control works that were later discovered to be entirely non-existent. The Commission said the involved DPWH officials and private individuals “orchestrated a scheme designed to deceive the Government and unlawfully appropriate public funds for a fictitious project.”

Project paid but not built at approved site

Project documents show that in February 2025, the DPWH Bulacan office, represented by District Engineer Henry Alcantara, entered into a P69.48-million agreement with Topnotch for the construction of a 152-linear meter concrete slope protection structure using steel sheet piles.

A Certificate of Completion was issued in May 2025 stating the project had been “satisfactorily completed” based on a Final Completion Inspection Report. The government released P67.85 million in payments to the contractor between March and June 2025, according to Notices of Disallowance issued by the Commission on Audit.

However, a technical inspection conducted by COA’s Special Audit Team on September 15 revealed no structure was constructed at the location specified in the approved bid plans. Instead, the structure was supposedly relocated to a different site identified in “As-Built” plans submitted after the fact-without proper authorization or documentation justifying the change.

“The results of the COA technical inspection of Contract ID No. 25CC0148, together with the available records, clearly establish that the Project was never constructed at the designated location in the Approved Bid Plans, thus, not implemented, despite the unwarranted release and full payment of the contract cost by the DPWH to Topnotch,” the ICI report stated.

The Commission noted that the relocation constituted a “material alteration of the project scope” that should have required corresponding documentation and possibly a new bidding process. This is because projects that have their locations changed would also, by default, require different designs, materials, and quantities.

Missing documents

The audit also found a lack of necessary documents required under COA regulations, including the Agency Accomplishment Report, Agency Certificate of Final Acceptance, geotagged photographs taken before, during and after construction, and test results.

“The deliberate suppression or non-submission of these essential documents further hindered effective project validation, supporting the claim of an ‘intent to deceive the government,'” the report said.

The ICI said the Certificate of Completion signed by DPWH officials appears to be falsified. The report cited a Supreme Court ruling that such certificates impose a legal obligation on signatories “to truthfully disclose the facts stated therein” as they are relied upon not only for payment release but also to determine contract compliance.

Recommended charges

The ICI is asking two things: for the Ombudsman to evaluate and decide for its own whether there are actual violations, and for it to consider the specific charges recommended by the ICI.

In a message to reporters, ICI Executive Director Brian Hosaka explained: “Both are recommendations: to assess and investigate and, thereafter, if there are sufficient grounds, file the necessary charges. Because it is the Ombudsman that will do the preliminary investigation.”

The ICI, Hosaka said, “can only recommend.”

According to its report, the ICI is asking the Ombudsman to file criminal charges for violations of the Anti-Graft and Corrupt Practices Act, malversation of public funds, and falsification against eight DPWH Bulacan officials:

Henry Alcantara, District Engineer

Brice Ericson Hernandez, Assistant District Engineer

Ernesto Galang, Chief of Planning and Design Section and BAC Chairman

Jaypee Mendoza, Chief of Construction Section

John Michael Ramos, Project Engineer

Irene Ontingco, Engineer II

Joshua Blitz Roxas, Engineer II

Bernardo Villafuerte, Engineer II

Also recommended for charges are Eumir Villanueva, president of Topnotch Catalyst Builders Inc., along with the firm’s corporate officers and board of directors.

The report noted that while corporations have personalities separate from their officers, “it appears that Topnotch was used as a vehicle for fraud, resulting in damage and prejudice to the Government.” The ICI said there exists “sufficient basis to pierce the corporate veil and hold the individuals involved in the control of the Contractor personally liable.”

Call for charges against former DPWH leadership

The ICI is also recommending administrative charges for grave misconduct, gross dishonesty, and “conduct prejudicial to the best interest of the service” against Public Works Secretary Manuel Bonoan.

Besides Bonoan, the ICI says it wants charges filed against former Undersecretary for Operations Roberto Bernard and former Undersecretary for Planning and Public-Private Partnerships Maria Catalina Cabral.

The ICI said Bonoan, as department secretary, had “supervision and control” of DPWH and “miserably failed to exercise simple diligence tantamount to fraud in ensuring the judicious use of public funds.”

“The above-described scheme perpetrated by senior DPWH employees was made possible because Secretary Bonoan betrayed such trust reposed on him,” the report stated. “Were it not for the president’s 2025 State of the Nation Address, Secretary Bonoan’s inexcusable negligence tantamount to fraud would have resulted in further plunder of public funds.”

Regarding the undersecretaries, the ICI said their responsibilities for operations and planning “made them intimately in the know of the activities of senior DPWH officials and responsible for the overall economical, efficient and effective administration of public funds.”

The ICI noted, however, that its findings remain preliminary and that it “does not make categorical findings of guilt.”

However, the commission also urged the Ombudsman to dig deeper into what it described as irregularities that occurred before and after the project’s implementation, saying the scheme could not have happened without the involvement or gross negligence of certain public officials and private contractors.

Report #3. This is the third report the ICI has submitted to the Ombudsman since its creation in September.

The first report, submitted on September 29, flagged a P289.5-million flood control project in Naujan, Oriental Mindoro. It recommended possible charges of graft, malversation, and falsification against former lawmaker Zaldy Co and 13 DPWH officials.

The second report, submitted on October 29, recommended charges against Senators Joel Villanueva and Jinggoy Estrada and other officials for alleged involvement in kick-back schemes tied to various flood control projects.

Topnotch was one of eight firms subpoenaed by the Senate blue ribbon committee in August for failing to attend its flood control hearing.

Resigned congressman Elizaldy Co stands to lose his chance to present his defense amid corruption allegations against him over anomalous flood control projects nationwide.

At a press briefing yesterday, Assistant Ombudsman Mico Clavano confirmed that an order to file a counter-affidavit was served last week at Co’s last known address, but people there refused to receive it.

Clavano said the order was validly served and is ‘deemed received already’ by Co.

‘If the period (to file a counter-affidavit) has lapsed, then we will consider Co as ‘in default’,’ he added.

A respondent in default could no longer file his counter-affidavit and evidence, Clavano explained.

Prompted by the Independent Commission for Infrastructure’s first interim report last month, the ombudsman is probing P289.5 million in alleged ghost and substandard flood control projects in Oriental Mindoro.

The projects are linked to Co’s Sunwest Inc.

Co left the Philippines in August, supposedly to seek medical treatment in the United States.

His current location remains unknown.

‘The ombudsman has intelligence on his whereabouts,’ Clavano said.

‘Once we file cases in court, we can request the cancellation of his passport. And once an arrest warrant is out, we can request an Interpol red notice,’ he added.

More cases

Public officials will be included in the next batch of cases that the National Bureau of Investigation will file with the Department of Justice (DOJ).

In an interview with ‘Storycon’ on One News yesterday, NBI officer-in-charge Lito Mag no said malversation, bribery, graft and corruption charges will be filed next week.

‘The first one that we filed didn’t (include elected of ficials) yet. But in this next one. there will be a proponent (of a project),’ he noted.

Meanwhile, Public Works Secretary Vince Dizon said they will file more cases with the ombudsman this week.

Last week, our peso broke through the P59:$1 level. It was its lowest ever. Most analysts believe our currency – already among the worst performing in the region – will cross the psychologically important P60:$1 over the next few weeks.

Before the week ended, the peso clawed back some of its losses and moved up to the P58:$1 level. This is not an indication of a trend, however. It is a pathetic measure of how little our BSP could do to defend the currency.

At this point, it will be futile for the BSP to burn its capital defending the peso. The costs of doing so is unaffordable. Every other factor – macroeconomic fundamentals, adept policymaking and public sentiment – runs against the peso.

It used to be that, whenever the peso went through a downgrading, there was always a public discussion of winners and losers of a weaker currency.

A weaker peso, it used to be be argued, improved the disposable incomes of families dependent on remittances. That argument has lost its convincingness. Whatever meager nominal increase remittance families gain will be quickly eaten up by inflation – especially food inflation that disproportionally hurts the poor.

Since we are now importing more of the food we need to keep our people fed, a weaker peso translates into food inflation even more quickly.

It also used to be said that a weaker currency will help our export industries. That, too, has lost its convincingness. We have hardly any export industries left. At any rate, the many inefficiencies of our logistics system quickly cancel out whatever competition benefits a weaker peso brings. Blame myopic government planning and the corruption-ridden DPWH.

It used to be that a devaluation was supposed to help our business processing industries. That is no longer true. Punitive duties imposed by the Trump administration makes offshoring US business operations less attractive. Then there is the looming impact of artificial intelligence on the whole business.

Our two largest sources of foreign exchange – migrant labor and BPOs – are both sunset sectors.

Over the years, we have exported millions of Filipinos to work as migrant labor. But we did not build the industries that will enable us to re-shore the trained labor returning home.We did not build the education system that will raise the skills profile of our human capital and make Filipino knowledge industries global champions.

In fact, we have consistently failed to reverse the hollowing out of our manufacturing sector. All empirical studies show that nations progress to higher income status only after they have successfully employed a critical mass of workers in the manufacturing sectors.

We never had an effective industrial policy. Not even for agro-industry. Therefore we do not have a competitive industrial base.

Check out our national exhibit at Osaka. Our main selling point is home-woven fabrics. The National Cottage Industry Development Authority was doing this three generations ago.

The only technological breakthroughs we have had is to transform the lowly pili nut as a source of oil for beauty products. Well, maybe we could add turmeric capsules. But we have miles to go catching up with the Korean beauty industry and Japanese pharmaceuticals.

The ever-careful BSP was forced to admit that the peso’s current weakness goes beyond our history of policy failures. Public anger over the blatant corruption has shaken confidence in our economy.

They were careful not to mention the heavy buying pressure in the dollar black market. From the BSP’s point of view, the market does not exist. But there seems to be a rush both by the legitimately rich and those who hold large amounts of ill-gotten wealth to launder money abroad.

Our systems are responding too late to catch the billions held by the flood control Mafia attempting to flee the economy. Our people were punished many times over: first by defective public works, then by poor logistics networks, then by the costs of political tumult and, finally, by higher fuel prices due to a weaker peso exchange.

Government has cancelled the flood control spending program in a frantic effort to blunt rising public anger. Then President BBM began issuing rather strange market-bending orders: no price increases for staples until Christmas and reduction by 50 percent of materials for other public works projects.

We have relapsed into the old habits that screwed up our economy in the first place: putting policymaking in the hands of public relations professionals.

The flood control scandals have blossomed to include other public works projects. If we keep cancelling public spending, although this might be dictated by a failed public procurement system, this will create a large hole in overall public spending. This, in turn, will force down our economic expansion and multiply miseries for the unemployed.

In the quiet panic of a political establishment that is, to begin with, economically semiliterate, we will end up postponing progress even more.

Our political leaders forget that rebuilding our institutions of governance is doubly more important than penalizing the looters for crimes already done. Retribution is important; nurturing sustained good governance is doubly so. Good governance is our bridge to a less traumatic future.

It is a wonder that this far into the investigations, the really big culprits have managed to keep themselves well insulated. Congress, the biggest waste of taxpayer money, has not reviewed its own budget.

The Philippines downed Himeji, 2-0, over the weekend to rule the International Exchange Men’s Softball Tournament in Higashikagawa City, Japan.

The Blu Boys’ title triumph was cemented through a 2-2 draw in their first outing versus Kagawa, a 16-0 win over a Singapore Under-23 squad, and a 9-0 bashing of Hong Kong.

It was a feat that sent a message that the country is ready to reclaim the gold medal in the Southeast Asian Games next month in Thailand.

‘This run is a strong validation of our hard work and preparation,’ said Amateur Softball Association of the Philippines Jean Henri Lhuillier. ‘We are immensely proud of the boys and the way they executed as a unit.’

‘The tournament was a huge test but the challenges ahead are bigger and we are ready to meet them head-on,’ he added.

The Blu Boys were in Japan for a training camp as part of their preparation for the SEA Games where they hope to strike gold after finishing with just a silver the last time the sport was staged in the biennial meet in Clark, Pampanga six years ago.

In a heartfelt celebration of achievement and hope, the Palawan Group of Companies recently held a thanksgiving ceremony to honor the 2025 graduates of the Palawan Group of Companies Scholarship Program (PGC-SP). This is another testament to its long-standing commitment to education as one of the key pillars of its corporate social responsibility (CSR) efforts.

The thanksgiving lunch brought together graduates from various universities, their proud families and Palawan Group associates who have been instrumental in supporting the scholars throughout their academic journey, serving as their ates, kuyas and mentors. Emotional testimonies were shared, highlighting stories of ambition, resilience and the transformative impact of education.

In her remarks, Palawan Group co-founder and deputy chairman Angelita Castro, said: ‘Napakahalaga sa amin ng pagbabalik ng mga biyayang natatanggap-‘di lamang ng aming pamilya, kung ‘di nitong ating kumpanya. Kaya naman, nang unti-unting lumago ang ang Palawan Group, naisip namin, mainam na magtatag ng scholarship program. Ang aming buong pamilya ay nakapagtapos bilang mga Iskolar ng Bayan. Nais rin naman makatulong makapagpabago ng buhay ng iba. (Giving back to the community is very important to us-not just to our family, but to the Palawan Group. When the business started growing, we knew we wanted to build a scholarship program. All of us in the family received the gift of education by being scholars ourselves. So we wanted to also do something to change lives).”

This year’s celebration carries an even more special meaning as it coincides with the company’s 40th anniversary and features a historic first: the graduation of PGC-SP’s first-ever summa cum laude, Mae Kyla Tabla, who earned her BSBA major Financial Management from the Palawan State University.

Expressing gratitude to the Palawan Group Board of Directors and associates, she said, ‘The Palawan Group Scholarship Program instilled in me the perseverance to continue pursuing my education and my dreams, no matter how bumpy the road has been and will be.’

Palawan Group chief human resources officer Korina Castro-Fernando, advised the graduates to continue reaching for their goals, and to give back to their families and to the country. She remarked, ‘you made it to this day, and we, your Palawan Group family, are very proud of you. Ang tanging hiling naming sa inyo, ibahagi ang biyaya at pag-asang inyong natanggap-sa inyong mga pamilya, at sa bayan. Maging mabuting tao, saan man kayo dalhin ng buhay. (Our only ask is that you give back – share your blessing, to your families, to your communities, to the country. Do well by doing good, and be kind wherever life takes you.”

The Palawan Group of Companies Scholarship Program was established in 1998 and has produced a total of 778 graduates-many of whom are now licensed teachers, engineers, certified public accountants and entrepreneurs. A great number has also joined the Palawan Group in its pursuit of serving more Sukis throughout the country.

Ayala-led Bank of the Philippine Islands (BPI) is eyeing a possible blue bond issuance next year as part of its sustainability-driven fundraising program, though no concrete plans have been set for the remainder of the year, a top executive said.

‘We’re monitoring the market but nothing concrete yet,’ BPI chief finance and chief sustainability officer Eric Luchangco told reporters. ‘It’s probably a bit late into the year. I think it would be difficult to get it out. Not impossible, but I wouldn’t expect it.’

He said the bank’s fundraising activities would depend on loan growth, noting that the need for fresh capital is tied to market demand. ‘Our fundraising is really by demand. If there are a lot of opportunities for us, then we’ll do a larger size. But if it looks like growth is not going to be that strong, then we don’t need to do that,’ he said.

As of end-September, BPI’s loan portfolio grew by 13 percent year-on-year. Luchangco expects loan expansion to remain in that range through the rest of the year.

While no size has been determined for potential issuances in 2026, Luchangco said the bank continues to explore thematic bonds, including a possible blue bond.

‘We would like to do a blue bond soon but it’s still a possibility,’ he said. ‘The ocean is one of the things that we’re very passionate about. So you know, we have the (Signature Yacht Race Series), and obviously we’re looking at the blue bonds. It’s really something we want to try.’

Asked if it could happen next year, Luchangco said it was ‘possible,’ even within the first half of 2026.

He emphasized, however, that the timing would depend on funding requirements and market conditions.

‘When we’re ready to come to the market, I think there’s a good chance we’ll come with a blue bond. But it also depends on what we see at that time, where the interest is,’ he said.

Luchangco also said that BPI is still determining whether the potential blue bond will be issued locally or internationally. ‘We set up the framework for a reason, but when it’s going to be – whether it’s the next issue or the one after that – we have to see,’ he said.

‘My personal preference is to do it where we think the market is and where it’s going to make a bigger impact,’ he noted. ‘Is the demand for blue bonds stronger in the international market versus local market? That’s going to be a consideration.’

The Ayala-led bank’s most recent sustainability bond was issued in the domestic market, where investor take-up was described as strong.

Earlier in June, BPI raised P40 billion from its BPI Supporting Inclusion, Nature and Growth bonds, marking the lender’s largest thematic bond issuance to date.

BPI also raised P33.7 billion through the issuance of its Sustainable, Environmental and Equitable Development bonds last year. The 1.5-year fixed-rate bonds are due in 2026 with an interest rate of 6.2 percent per annum.

With Typhoon Tino forecast to hit the Visayas, the Cebu Electricity Rights Advocates (CERA) has called on the province’s power distributors to demonstrate stronger disaster preparedness and prevent a repeat of the widespread power crisis that followed Typhoon Odette in 2021.

In a statement, CERA urged Visayan Electric and the Cebu Electric Cooperatives I, II, and III (CEBECO I, CEBECO II, CEBECO III) to reinforce critical infrastructure and ensure faster restoration protocols, particularly for essential circuits supplying hospitals, water facilities, and communication hubs.

‘Knowing our geography and proneness to natural disasters, Cebu will be severely affected if our power infrastructure is not well reinforced to handle the harsh weather,’ said Nathaniel Chua, CERA convenor.

‘Effective recovery depends on readiness, investment, and accountability,’ Chua added.

CERA recalled how Odette exposed major vulnerabilities in Cebu’s power grid, with VECO’s urban systems collapsing and rural areas under CEBECO I and III enduring prolonged blackouts that lasted weeks. CEBECO II, by contrast, managed a faster restoration.

Push for Long-Term Resilience

While CERA said it continues to monitor the utilities’ response plans, the group emphasized that resilience must go beyond short-term repairs. It is urging both VECO and the CEBECOs to pursue long-term grid modernization, including underground cabling in critical urban zones, stronger coordination with local government units, and more transparent communication with consumers during outages.

Beyond infrastructure, the group is pressing for closer collaboration between utilities, local authorities, and national agencies to build a unified disaster response system.

‘There should be a complete re-evaluation of performance and lessons learned after every major natural disaster Cebu has experienced,’ Chua said. ‘Being ready is not just about reacting to negative outcomes-it’s about using past data to identify weaknesses and improve systems for the safety and welfare of our communities.’

CERA’s appeal underscores growing public scrutiny of Cebu’s energy resilience amid increasingly frequent and intense weather events. As Typhoon Tino advances, the group said accountability and preparedness-not just recovery-will determine whether Cebu avoids another prolonged power crisis.

The 5150 Triathlon Series is reaching out to new shores with the inaugural 5150 Camiguin set to take place on May 3 next year, in the island province in Northern Mindanao.

Known as the ‘Island Born of Fire,’ Camiguin is a tropical gem renowned for its seven volcanoes, pristine white sandbars, and centuries-old heritage sites. The island’s breathtaking scenery and warm hospitality will offer triathletes a truly memorable race experience – one that highlights both adventure and cultural discovery.

The 5150 Camiguin will mark another milestone for the Philippines’ growing triathlon community and tourism industry. Athletes will dive into the crystal-clear waters off Old Catarman, racing past the iconic Sunken Cemetery Monument, one of Camiguin’s most striking landmarks. The bike course follows a scenic two-loop route along the island’s Circumferential Road, showcasing panoramic coastal views and lush countryside.

The concluding race stage will culminate at the Camiguin Sports Complex.