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Priest-led Filipino group urges banks to halt fossil gas financing

Severing fossil gas’ lifeline

 Severing fossil gas’ lifeline  ING-025
23 June 2023
The decision to go straight to the bankers was made following a relatively simple theory: severing the “bloodline” will render the “body” useless. This is the approach taken by Protect Verde Island Passage (vip) in recent months. Led by lead convenor Father Edwin Gariguez, this multi-sectoral group has traveled thousands of miles from the Philippines to visit major Western banks in an effort to halt fossil gas financing in the “Amazon of the oceans”, hoping that cutting fossil gas companies’ financial lifelines will also put an end to their operations. However, while the theory is straightforward, putting it into action has proven to be a challenge. The urgency of their mission stems from the Philippines’ energy ministry’s repeated interest in establishing the country as the regional hub for Liquefied Natural Gas (lng) in Southeast Asia. ...

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