Cleene Ethyl Alcohol, a trusted Filipino brand that provides high-quality and affordable alcohol products from Philusa Corporation, extends its effort in reducing ocean-bound plastic waste as it partners with the social enterprise, Plastic Bank Corporation.
Cleene Ethyl Alcohol is supporting Plastic Bank’s Impact Program which intends to help prevent 1.25 million plastic bottles from entering the ocean. Cleene Ethyl Alcohol will also help improve the lives of more than 600 plastic waste collectors in vulnerable coastal communities in Makati, Pasig and Mandaluyong. Cleene Ethyl Alcohol’s support for the Impact Program will also contribute to the collectors’ income, enabling them to afford basic family necessities such as food, clean water, and cellular service, among others.
Promoting collaboration between consumers and brands, Plastic Bank’s Impact Program enables Cleene Ethyl Alcohol to achieve its annual sustainability goals and empower its consumers to make an impact on the environment. To date, the Impact Program has stopped over 2,401,315,100 from entering the ocean, impacting over 588 communities.
The Philippines is named as one of the top producers of marine waste. The country is the third largest contributor, with an estimated 0.75 million metric tons of mismanaged plastic entering the ocean every year, according to a study by the World Bank. The nation is also combating water stress with rapid urbanization. According to Water.org, more than 3 million people in the Philippines rely on unsafe and unsustainable water sources and 7 million lack access to improved sanitation.
There has been recent initiatives that aim to help tackle marine pollution and preserve clean water resources while supporting the country’s climate goals. The International Finance Corp. (IFC) recently announced that it will subscribe up to USD 100 million to a Blue Bond to be issued by BDO Unibank, Inc. (BDO), the largest bank in the country. BDO’s Blue Bond will be the first such issuance in the Philippines and the first for IFC in the East Asia Pacific region.
This Blue Bond issuance reinforces BDO’s commitment to sustainable finance and allows the company to provide more support to critical areas such as water conservation, wastewater treatment, plastic recycling, sustainable tourism, fisheries and sustainable seafood processing.
(Sources: The Philippine Daily Inquirer; BDO)