Road to 7M: RSA shares progress of SMC power’s tree planting project

SMC Global Power Corp. is on track to meet its goal of planting seven million trees nationwide, bilyonaryo Ramon Ang proudly shared.

In a statement, Ang said San Miguel Corporation’s (SMC) power arm has so far planted more than five million trees in various parts of the country in three years.

“So far, we have a survival rate of 90% for both upland and mangrove trees planted. The success of this program is largely due to the support and commitment of our many partner stakeholders, the local communities in particular,” Ang, SMC’s president, CEO and chairman said in a Facebook post.

SMC Global’s Project 747 involves planting seven million trees across 4,000 hectares of land in at least seven provinces nationwide.

Ang shared the progress of SMC Global’s tree planting initiative after President Ferdinand Marcos Jr. pushed for planting more trees to ease flooding.

“Together, they make sure we plant the right trees in the right places, and nurture them so that we can restore biodiversity while uplifting communities,” the bilyonaryo added.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.

Synergy Grid declares P1.37B cash dividends

Synergy Grid and Development Philippines of bilyonaryos Big Boy Sy and Robert Coyiuto is set to reward its shareholders with a cash dividend similar to the amount given the past two quarters.