BusinessMirror December 07, 2019

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ROTARY CLUB OF MANILA JOURNALISM AWARDS

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MUTANT PIGS www.businessmirror.com.ph

A broader look at today’s business n

Saturday, December 7, 2019 Vol. 15 No. 58

PHILIPPINE STATISTICS AUTHORITY

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P25.00 nationwide | 24 pages | 7 DAYS A WEEK

China’s experimentally bred hogs could help save nation from pork apocalypse

I

By Kristine Servando | Bloomberg News

NSIDE a fortress-like megafarm on the outskirts of Beijing, dozens of pink-and-black pigs forage and snooze, unfazed by the chilly spring air. These experimentally bred hogs are fortified with a gene for regulating heat, buffering them against northern China’s hypothermia-inducing winters.

THREE-MONTH-OLD pigs stand in a pen at the Paustian Enterprises in Walcott, Iowa, April 17, 2018. DANIEL ACKER/BLOOMBERG

“The most burning question for scientists is how to make the pig more healthy,” says Zhao, 45, who heads a 20-strong group of researchers and technicians at the state-run Chinese Academy of Sciences’ Institute of Zoology in Beijing, where he’s become a superstar in the world of swine genomics. China’s ambitions, though, extend well beyond farm animals. In dozens of labs across the country, scientists are racing researchers

in the US and Europe to develop superior lines of food and fiber crops, while others are pushing the boundaries of medical science—sometimes facing criticism—by editing the human genome to correct disease-causing mutations, or susceptibility to infections like HIV. It’s a biotechnology arms race happening against the backdrop of a disruptive trade war with the US, a rapidly aging population,

Beyond the bottom line

T

By VG Cabuag

HE Philippine Stock Exchange Inc. announced recently that it will use much deeper criteria for its annual Bell Awards, an awardgiving body that it created within the Exchange, recognizing the efforts of listed firms that follow good practices. The PSE, the operator of the country’s equities market, said that for the 2020 edition of the awards, it will now use the comprehensive set of standards that also measures how a listed firm cares for the environment and its people, on top of how well it governs the company. The framework is otherwise known as environmental, social and governance, or ESG, which can be a curved ball for some of the previous recipients of the award. Some camps had said earlier that the awards were only given to almost the same entities during the

past years, as these were benchmarked only corporate governance principles. A conglomerate, which has a power unit, for instance, has been consistently winning the Bell Awards in past years, but it may have a hard time snagging the recognition in the 2020 edition as it needs to show how it cared for the environment. Another is a shopping mall operator, also a consistent awardee, also needs to prove that it cares for its employees, the people around its business and its surroundings. “For five years, the PSE con-

PESO EXCHANGE RATES n US 50.8590

ferred the Bell Awards on PLCs [publicly listed companies] and trading participants that demonstrated excellence in corporate governance. The global push for ESG metrics in investing prompted the Exchange to adopt this as its main assessment standard for the PSE Bell Awards,” PSE president and CEO Ramon S. Monzon explained. The last time the PSE held the event was in 2017, when it announced that it will now become a biennial event, which should be this year. The PSE committee, however, decided to instead put in more work in revising the criteria to adopt the ESG framework and pushed the awards next year, using 2019 as the basis. “The shift in focus is also a concrete step for us to advocate sustainability among our stakeholders. This is part of our commitment to the Sustainable Stock Exchanges Initiative when we became a member of this global organization this year,” Monzon said. The PSE said its goals for the 2020 edition of the awards are to recognize companies that are helping create a sustainable society; to provide effective guidance to all

and diminishing resources to feed China’s 1.4 billion people. Soaring pork prices prompted the State Council, China’s Cabinet, in September to call for the greater use of science and technology, among other measures, to boost production of the country’s staple meat. China’s investment in research and development has already catapulted the world’s most populous nation from relative obscurity in biomedical science to behemoth in

less than two decades. China outspends every other country barring the US on research and development—$445 billion in 2017. Chinese firms have also stepped up acquisitions of foreign biotechnology and pharmaceutical companies, with $25.4 billion in deals since the start of 2014, according to data compiled by Bloomberg. But teams in the US and Europe currently have a critical edge,

including something China desperately needs: protection from major pig-killing diseases. China has sought to redress that by sending abroad promising scientists, like Zhao, to learn from the world’s best, then bringing them home and furnishing them with industrial-scale resources. The campus that houses Zhao’s gene-edited pigs is ringfenced by three layers of security Continued on a2

PSE tweaks its annual Bell Awards to encourage business to care for people, the environment, alongside SEC’s implementation of sustainability reporting rules.

NONIE REYES

The gene that researcher Jianguo Zhao inserted into the pigs’ DNA is among dozens of examples of genetic engineering underway in China—and in rival laboratories across the world—to create super pigs. For years, the quest was for better-tasting, stronger, and faster-growing swine. Now, in the wake of a devastating global outbreak of African swine fever, the more crucial need is to safeguard food security, and keep hogs alive.

Continued on a2

n JAPAN 0.4676 n UK 66.9304 n HK 6.4965 n CHINA 7.2198 n SINGAPORE 37.3771 n AUSTRALIA 34.7418 n EU 56.4687 n SAUDI ARABIA 13.5631

Source: BSP (December 6, 2019 )


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