MANILA, Philippines - The Land Bank of the Philippines inked an agreement with ABS-CBN Foundation Inc. (AFI) to support the Bantay Baterya and Bantay Langis projects.
|LANDBANK Senior Vice President for Corporate Services Jocelyn Cabreza (center) and ABS-CBN Foundation Inc. (AFI) Chief Finance Officer Clarissa Ocampo recently signed the agreement sealing LANDBANK's support for AFI's Bantay Baterya and Bantay Langis projects.
"This is a significant step we are glad to take with ABS-CBN Foundation as we work towards our mutual goal of environmental protection. By starting with small steps such as proper handling and disposal of used oil and batteries, organizations and individuals alike can help prevent further damage to the environment,"Land Bank senior vice president for corporate services Jocelyn Cabreza said, in a statement.
Cabreza signed the agreement together with AFI chief finance officer Clarissa Ocampo.
AFI's Bantay Baterya project aims to reduce pollutants caused by improper handling and disposal of batteries. It involves the collection of used, junk lead-acid batteries for recycling into fresh raw materials for the production of new batteries.
On the other hand, Bantay Langis facilitates the treatment and recycling of used industrial and engine oil.
Under the agreement, Land Bank will donate used batteries and used oil and their equivalent monetary value to AFI. AFI will coordinate the collection of the donated used batteries and oil through the partners – Philippine Recyclers Inc. (PRI) for the batteries and Genetron International Marketing Inc. for the used oil.
Land Bank is committed to sustainable development by maintaining environmentally-sound operations and implementing resource conservation and waste management initiatives.