Businessmirror december 02, 2017

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A broader look at today’s business n

Saturday, December 2, 2017 Vol. 13 No. 52

2016 EJAP JOURNALISM AWARDS

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HOUSE PANEL READYING MORE WITNESSES TO BOLSTER IMPEACH CASE AGAINST SERENO

LINING UP FOR THE KNOCKOUT PUNCH L

By Jovee Marie N. Dela Cruz

AWYER Lorenzo Gadon likened the impeachment case he filed against Supreme Court (SC) Chief Justice Ma. Lourdes Sereno to a boxing match. And with the recent developments at the House Committee on Justice proceedings seen as telling blows against the chief magistrate, will Gadon score a big knockout in the days to come? Rep. Reynaldo Umali of Oriental Mindoro, chairman of the House Committee on Justice, said the testimony of SC Associate Justice Teresita Leonardo de Castro “solidified” the allegations against Sereno. “We only tackled two issues, and these show that Gadon’s complaint has basis,” the lawmaker said. According to Umali, only the resignation of the Chief Magistrate will stop his committee from conducting hearings on her impeachment complaint. Umali, citing the 1987 Constitution, said, “Impeachment is an extraordinary power granted by the Constitution to the House of Representatives through the Committee on Justice.” “[However,] let us not treat the current proceeding as a full-blown impeachment trial. Let us not deprive the Senate of their constitutional mandate to sit as the im-

peachment court. We are currently [acting as] investigating prosecutors determining whether there is probable cause that an impeachable ground exists to remove the Chief Justice from office,” he said.

‘Grossly unprocedural’

DURING the impeachment proceedings, De Castro backed allegations that Sereno issued a resolution inconsistent with the decision of the court en banc. De Castro said Sereno not only unilaterally issued Administrative Order (AO) 175-2012, but that it was also inconsistent with the Court’s 2006 decisions pertaining to the creation of the Regional Court Administration Office in Region 7 (RCAO-7). The allegation was among the grounds that Gadon cited in support of the charge for culpable violation of the Constitution he mentioned in his impeachment Continued on A2

FORMER Chief Justice María Lourdes Sereno gestures at a news conference in Manila on August 28, 2013. AP/AARON FAVILA

Green financing A

LAWMAKER is pushing for the creation of a Philippine Green Bank (PGB) that would provide financing to projects that seek to preserve the environment and address climate and disaster risks.

POGONICI | DREAMSTIME.COM

LAWMAKER PUSHES CREATION OF PIONEERING BANK FOR ENVIRONMENTAL PROTECTION, CLIMATE CHANGE

PESO EXCHANGE RATES n US 50.3460

By Jasper Emmanuel Y. Arcalas

Sen. Loren P. Legarda, who chairs both the Committees on Climate Change and Finance, said having a green economy would allow the Philippines to become a climatesmart and climate-resilient nation. “If we want to sustain this path, we need to scale up green financing for adaptation and mitigation measures that will further enable us to protect our environment and our people’s lives and livelihoods. As we go through with our event today, perhaps our discussions should not only focus on how we could enable green financing in all sectors in our country, but also how we can sustain it,” Legarda said in her keynote address during the Green Breakthroughs 2017 at Shangri-La Hotel, Makati City, on November 27.

“Green financing essentially means investing on projects that preserve our environment and address our climate and disaster risks. It supplements existing government-funded projects by encouraging private investments in order to maximize our nation’s capacity to protect the environment and address climate change,” Legarda added. The lady lawmaker has filed Senate Bill 436, which proposes the establishment of environmental units in every banking institution to assess the environmental component of loan projects.

Awareness

UNDER the measure, the environmental unit shall be composed of See “Green,” a2

n JAPAN 0.4474 n UK 68.1081 n HK 6.4464 n CHINA 7.6178 n SINGAPORE 37.3376 n AUSTRALIA 38.0817 n EU 59.9319 n SAUDI ARABIA 13.4253

Source: BSP (December 1, 2017 )


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Businessmirror december 02, 2017 by BusinessMirror - Issuu