The Verde Island Passage is known as the “Amazon of the sea” because of it’s incredibly diverse wildlife, is facing danger from giant fossil fuel companies who are trying to open it up for gas drilling. And behind every fossil fuel company, there’s a giant bank giving it the money it needs to cause destruction.
That’s why more than 100 civic organisations from over 20 countries, led by CEED Philippines, are raising the alarm and demanding that the financiers of the gas expansion remove their money immediately:
“We urge you not to be culprit to the destruction of the Amazon of the Oceans”
The Verde Island Passage has about 60% of the world’s known shorefish species, over 300 coral species, and thousands of others – making it one of the most biodiverse marine habitat in the world. But reckless companies (and their funders) want to lay down huge gas pipelines. Sadly, it’s a growing pattern. The Philippines is among countries leading reckless gas expansion in Asia – and they’re planning to hugely increase production.
This is all backed by a bunch of banks who will not face the consequences of what they’re funding. Banks like Credit Suisse, DeutscheBank, Standard Chartered and Mizuho are all piling in the cash and causing destruction. And it fits a common pattern. All over the Philippines, banks are pouring cash into the destruction of the coast – with familiar banks like JP Morgan Chase (the worst fossil fuel financier in the world) all over it.
This is exactly why groups across the world are taking a stand and sending a joint letter to all the investors and to international media. It’s creating a movement
Yes. Please PROTECT Verde Island passage, Lobo!!! Do not compromise the richness of our seas, marine life & environment, Philippines!!! 🐠
— KC ~ also, Kristina. (@kristina) July 23, 2015
Red light for coal and gas 🚦 green light for renewables!
Power For People Coalition & #ProtectVIP activists in Manila showed up outside @StanChart in #SquidGame costumes to demand the bank end its deadly game of financing fossil fuels.
📸: P4P Coalition#DefundClimateChaos pic.twitter.com/ES9n8K1CAh
— 350 dot org (@350) October 29, 2021
The banks and financial institutions MUST stop funding fossil fuels in the Philippines immediately.
Take action here: https://www.protectvip.org/takeaction
Sign the petition here: https://www.change.org/p/philippine-government-protect-the-verde-island-passage-vip
Read more about the letter here: https://www.protectvip.org/post/international-groups-decry-fossil-gas-expansion-in-amazon-of-the-oceans-in-ph
Read the full report into the existing and proposed gas terminals: https://ceedphilippines.com/wp-content/uploads/2021/07/Philippine-Fossil-Gas-Landscape.pdf
Watch the full talk on what’s happening here: