Petron, WWF ink reef conservation deal

In the Philippines, oil refiner Petron Corp. has 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 is committing up to Php50 million (US$1.09 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. This partnership with WWF will allow us to support livelihood programs that would improve the income of Cagayancillo residents and give them skills essential for the preservation of Tubbataha Reef, said Petron Chairman and Chief Executive Nicasio I. Alcantara. (July 3, 2007)