PETRON, WWF SEAL PIONEERING STRATEGIC AGREEMENT TO CONSERVE TUBBATAHA REEF & THE GREATER SULU SEA

The country’s leading oil refining and marketing company Petron Corporation recently signed a strategic agreement with the World Wide Fund for Nature (WWF) to further expand conservation efforts in the greater Sulu Sea, particularly in Tubbataha Reef—Southeast Asia’s only UNESCO World Heritage Site in the marine environment. Petron will be committing up to P50-million over the next five years to fund programs aimed at improving livelihood, food security and sustainable natural resource management in the municipality of Cagayancillo which has jurisdiction over the reef.

“The sustainability and success of our business hinges on our actions as a responsible leader in every aspect of our business especially in the area of corporate citizenship,” Chairman and CEO Nicasio I. Alcantara said. “This partnership with WWF will allow us to support livelihood programs that would improve the incomes of Cagayancillo residents and give them skills essential for the preservation of Tubbataha Reef.”

The Petron-WWF partnership has two major components. One component establishes and expands marine-based livelihood opportunities for Cagayancillo residents. A second component provides the opportunity to build the skills of island residents and deserving college graduates from different academic institutions, to manage marine resources through an annual summer hands-on learning program. Additionally, this serves as a means to promote stronger ties among academic institutions, scientific and technical experts, industry partners, NGOs, and local government units.

“Petron’s decision to make a meaningful investment to conserve and effectively manage Tubbataha Reef--Southeast Asia’s only UNESCO marine world heritage site—represents a significant private sector commitment to the people of Palawan, and to the Philippine environment in general,” WWF-Philippines President Jose Ma. Lorenzo Tan said. “In light of the environmental challenges that face our country, private sector investments, in WWF’s view, can provide the much needed impetus, and make all the difference in people’s lives.”

In partnership with stakeholders from Palawan and the national government, WWF has been playing an active role in managing the Tubbataha Reef over the past ten years. Its involvement includes the mobilization of resources to support the management and protection of marine biodiversity, enforcement efforts, the maintenance of high standards of biological research (e.g. corals, fish, seabirds) and thorough documentation of results – a requirement for sound management. WWF-Philippines has been able to build and innovate on approaches to remain at the cutting edge of conservation work.

“The program represents Petron’s long-term pledge to help restore the health and productivity of Philippine seas and ramp up both the social and economic gains for coastal communities.” Petron President Khalid D. Al-Faddagh added. “The preservation of Tubbataha is essential to achieve food security for thousands of fisherfolk who depend on the bounty of the Sulu Sea.”

Tubbataha reefs contribute immensely to the viability of coastal fisheries and food security. It has been scientifically-established that the currents within the Sulu Sea transport large quantities of larvae from Tubbataha and Cagayancillo, towards the east coast of mainland Palawan, where they seed hundreds of kilometers of coastal reefs in one of the country's most productive fishing grounds.

Researchers have recorded 396 species of corals - 85 per cent of all hard coral species in the entire Philippines. There are 479 species of fish from 46 families. Manta rays are frequent visitors to the reef as are barracudas and large schools of jacks. Tubbataha is also home to six species of sharks - usually found cruising around the outskirts of the reef. There are two types of sea turtles and nine species of marine mammals found in these reefs. The diversity of marine life found in Tubbataha is equal to or greater than any such reef of its size in the world.

About Petron:

Petron Corporation is the largest oil refining and marketing company in the Philippines. Its 180,000 barrel-per-day oil refinery produces a full range of petroleum products to supply nearly 40% of the country’s total fuel requirements. Petron is dedicated and passionate about its vision to be the leading provider of total customer solutions in the energy sector and its derivative businesses. Please visit www.petron.com for more information.

PRESERVING A NATIONAL TREASURE. Petron Chairman and CEO Nicasio I. Alcantara (3^rd from L) signed a memorandum of agreement with WWF-Philippines Chairman Jaime Augusto Zobel de Ayala to form a strategic partnership between Petron and WWF to preserve Tubbataha Reef—considered one of the richest marine ecosystems in the world. Also in the picture are Petron President Khalid (extreme L) D. Al-Faddagh and WWF-Philippines CEO Jose Ma. Lorenzo Tan.