Filipino-Chinese Taipan, Lucio Tan, is looking into entering the Clean Development Mechanism (CDM) field for his farms with the help of Mitsubishi Corp who will do a feasibility study in two of their piggeries in Foremost Farms. This is part of their corporate social responsibility targets. The study will take about 3 months and will produce investment and capital requirements for this venture.
If determined feasible, they will be able to harvest energy from the manure of their pig farm which can be used to reduce their carbon emissions by reusing their energy as well as earn by selling the carbon credits earned from this carbon reduction project.
This is already the second CDM project for the Lucio Tan Group as they have successfully implemented a CDM project in one of their subsidiaries, Absolut Chemicals, Inc. Their initial CDM project had distillery waste from their beverage plants converted to methane which was then used to power their boilers.
Aside from reducing their carbon generation, earning on the side from selling carbon credits generated from the project, they have also helped reduce their energy consumption and overhead cost by recycling their waste into energy.
Lucio Tan’s business holdings are in banking (Philippine National Bank, Allied Bank), airlines (Philippine Airlines, Air Philippines), real estate (Eton Properties), tobacco (Fortune Tobacco), agriculture, Education (University of the East) and alcoholic beverage (Asia Brewery, Tanduay Holdings).
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Category: Carbon Credits, Methane
