00:54.3
while Germany's services sector picked up pace.
00:57.8
As for Wall Street, futures are up about a third of a percent.
01:01.6
Investors will be watching out for several Fed officials slated to speak this week for more clarity on the Federal Reserve's rate cut path.
01:11.0
Here are some stocks to watch out for.
01:13.0
We're monitoring shares of Apple after investment icon Warren Buffett's Berkshire Hathaway slashed its stake in the tech group.
01:20.4
Apple shares are down half a percent in pre-market trading.
01:23.7
Also, we're watching out for the U.S. stock market.
01:24.3
Also in focus, shares of digital consultancy firm Perficient, which has agreed to be acquired by Swedish private equity firm EQT for about $3 billion.
01:34.5
Perficient shares soared by 53 percent before the bell.
01:38.3
We're also keeping a close watch on shares of Paramount Global as it pursues simultaneous acquisition talks with Sony, Apollo, and Skydance.
01:46.9
Paramount Global rose nearly 4 percent on this development.
01:51.8
Meanwhile, Asian markets ended Monday higher.
01:54.3
On thin trade, with Japan and South Korea closed for holidays, the Shanghai Composite led gains as Chinese markets returned after a long Labor Day holiday.
02:05.7
Here at home, Philippine shares also kicked off the week with gains ahead of key economic data this week, including April inflation and first quarter GDP numbers.
02:17.7
We can see that investors are seem cautiously optimistic ahead of CPI and GDP.
02:24.3
While there might be some consolidation, we believe that the market direction will ultimately be positive, especially if the economic data meets or exceeds expectations, especially the investors.
02:38.7
Any pullback could present buying opportunities as well as investors remain confident in the economy's underlying strength.
02:49.7
The Philippine Central Bank is keeping its policy rates unchanged.
02:54.3
Amid still high inflation, BSP Governor Eli Ramolona Jr. says there's still leeway to maintain their key rate at 6.5 percent.
03:03.1
Ramolona adds they remain hawkish over the country's inflation print.
03:06.6
The BSP earlier forecast inflation in April to settle within the range of 3.5 to 4.3 percent.
03:13.9
If the upper end of the projection holds up, it would be higher than March's 3.7 percent and an increase for a third straight month.
03:22.2
It would also go above government's forecast.
03:24.3
The BSP's policy meeting is on May 16.
03:36.3
Chinese President Xi Jinping urged to ensure more balanced trade during his first trip in Europe in five years.
03:43.4
French President Emmanuel Macron and European Commission President Ursula von der Leyen made that call at the start of Xi's visit in Paris.
03:51.5
Xi's European tour is aimed at boosting ties with the European Union.
03:54.2
The BSP's policy meeting is on May 16.
03:54.2
The BSP's policy meeting is on May 16.
03:54.3
The European Union and China want good relations.
04:08.4
And given the global weight of China, our engagement is key to ensure mutual respect,
04:15.4
to avoid misunderstanding, and to find solutions to global challenges.
04:20.9
In addition, both China and the European Union have...
04:23.4
The European Union have a shared interest in peace and security and in the effective functioning of the world-based international order, especially against a backdrop of a very turbulent environment, either in Europe, in the Middle East, or in East Asia.
04:42.4
After France, she will visit Serbia and Hungary.
04:46.0
In local corporate earnings now, starting with SM Prime, which posted a P10.5 billion net income in the first quarter after bringing in P30 billion in revenue, the C family small business remained the primary growth driver, contributing 59% to consolidated revenues.
05:06.6
Its residential and other business segments also saw steady growth this quarter.
05:11.6
As for Enrique Razon's ICTSI, it booked a P210 billion net income.
05:16.0
The Port Operator cites its international portfolio and geographical diversification efforts for the numbers.
05:24.8
Its revenues in the first quarter were also higher at P637 million.
05:31.2
And finally, Semirada Mining deepens its losses with net income declining to P6.5 billion as weaker market prices affected coal shipments and energy sales volume.
05:42.7
Despite that, coal sales were higher on imported coal.
05:46.0
Improved exports, excuse me, while domestic shipments were up 6% to 2.1 million metric tons.
05:53.5
Now, here are other corporate earnings results.
05:57.8
We're taking a quick break. Up next, a discussion on the SDG investor map and how it will help the Philippines achieve sustainable and inclusive economic growth.
06:16.0
Up next, a discussion on the SDG investor map and how it will help the Philippines achieve sustainable and inclusive economic growth.
06:46.0
Up next, a discussion on the SDG investor map and how it will help the Philippines achieve sustainable and inclusive economic growth.
06:53.0
Welcome back. Last March, the United Nations Development Program in the Philippines released a report identifying 12 investment opportunities in the country.
07:02.0
The UNDP believes investments in these areas will help the Philippines achieve the 17th Sustainable Development Goals or SDGs.
07:10.5
To discuss the so-called SDG investor map, we have Edwin Carey of UNDP.
07:16.0
To discuss the so-called SDG investor map, we have Edwin Carey of UNDP.
07:16.1
To discuss the so-called SDG investor map, we have Edwin Carey of UNDP.
07:16.1
To discuss the so-called SDG investor map, we have Edwin Carey of UNDP.
07:16.3
To discuss the so-called SDG investor map, we have Edwin Carey of UNDP.
07:16.6
And Rapa Lopa of the Weasel Foundation. Gentlemen, welcome to the studio.
07:22.7
Good evening. Thank you for having me.
07:24.6
Thank you for being here.
07:25.8
Now, right before we came up here, I saw a report that said FSDR, the Financing Sustainability Development Report,
07:35.3
showed that there's a $4 trillion investment gap when it comes to SDGs.
07:41.3
Indeed, and it's $4 trillion annually.
07:46.0
Until 2030 for the achievement of the SDGs.
07:50.6
The good news, however, is that the resources exist.
07:55.6
We are living in a $100 trillion economy and more than $400 trillion in terms of assets.
08:02.6
So, there are resources available.
08:05.7
The whole idea now is how do you redirect resources in the proper channels toward the proper targets
08:14.7
so that we can...
08:16.0
...accelerate progress towards the SDGs.
08:18.7
So, even though the numbers are a bit dizzy, we are talking about trillions.
08:23.0
But the good news is that we do have, as a planet, we do have resources available.
08:29.8
This is despite the fact that higher financing costs is also a burden to many developing countries,
08:36.4
especially after COVID when rates went up and there's a lot of debt going on.
08:40.8
Is that really eating some of the money that should have gone into SDG investments?
08:47.3
COVID-19 has been, of course, a burden on the economies of most of the countries on the planet.
08:53.8
Nine in ten countries on the planet actually regressed in terms of human development because of COVID.
09:00.4
A feat that not even the global crisis of 2008 could not achieve.
09:05.7
So, COVID really have eaten into our resources.
09:08.4
But on the other hand, there are still enough resources to go by...
09:16.0
finance, development
09:19.7
The whole idea is how do
09:22.0
you actually harness those
09:23.8
resources and redirect them
09:25.8
towards some of the SDGs
09:28.2
where progress is
09:30.0
lacking. So it's all about the strategy.
09:32.6
Of course, for some
09:34.1
countries on this planet,
09:36.1
of course, if you're looking at
09:37.4
the poorest of the poorest, they will be
09:40.1
struggling with availability of
09:43.4
middle-income countries, for example, like
09:48.2
they are available resources. It's
09:50.0
all how you organize those
09:52.0
resources to address specific
09:54.0
issues. Hence, you came out with this
09:56.0
SDG investor map.
09:59.2
interesting. I browsed through
10:02.1
it. It was very detailed. You even had
10:04.0
enabling environments, possible
10:06.2
risks to those investments. But
10:07.8
maybe give us an overview of
10:10.0
what it is, Rapa. I believe
10:11.7
WeSell Foundation was also part
10:13.7
in coming up with this.
10:15.0
Well, I guess the challenge
10:17.0
that was brought forward to us was to
10:18.9
figure out how do you really unlock
10:21.1
the kind of money that's available
10:27.1
gaps are caused by
10:28.6
situations where policy
10:33.1
In other words, companies want to invest
10:35.0
in it, but the policies
10:36.9
do not give them enough
10:41.2
to actually earn the profits
10:43.0
or the income that they want to generate.
10:45.0
Because definitely, companies have
10:46.9
stakeholders, they have shareholders,
10:48.8
and they have to make sure that whatever
10:52.6
they will get the returns.
10:55.1
And I think that's part of the problem.
10:57.7
Trillions of dollars available,
10:59.6
the requirements of these funds
11:02.7
in so far as reporting, in so far
11:05.0
as... And some of the companies that
11:06.9
we've talked to, even the conglomerates, are having
11:08.9
a tough time actually complying with
11:10.8
reports. And they need to actually
11:12.9
spend a lot of money to actually just
11:15.0
hire a team to figure
11:17.0
out how to report
11:18.7
performance of the funds that are being
11:22.7
made available. And that alone
11:24.6
becomes very prohibitive for a lot of
11:27.0
companies to actually tap
11:29.0
into those funds. So that
11:30.8
even if it's available, they don't even grab it.
11:33.1
Because clearly, they
11:34.7
find themselves spending more
11:36.4
to actually access the funds and
11:38.5
invest in the right projects that actually
11:40.8
could attain or could help
11:42.8
attain the goals, the sustainable goals.
11:45.0
And this report is a guide to where they
11:46.9
could possibly invest. Well, we sort of
11:48.8
tried to map what
11:50.5
projects are, what we would refer
11:52.9
to as low-hanging fruits. In a way, there
11:54.8
are enabling laws
11:56.8
and policies that actually could allow
11:58.7
for companies to get into these businesses
12:00.6
and earn some kind of profit.
12:02.7
Because in the end, you speak the language
12:04.8
of business, of finance.
12:06.8
And therefore, they need to find
12:08.8
out which one will really give them the
12:10.7
returns. Again, as I said,
12:12.6
they have shareholders and stakeholders.
12:15.0
That they need to look into.
12:17.1
And therefore, you have to be able to
12:18.6
provide information or market intelligence
12:21.0
that allows them to
12:22.5
at least use that as initial
12:24.6
information when they do
12:26.7
their project studies
12:29.0
and their feasibility studies. Just one more
12:30.8
question. I'm just curious.
12:33.2
How difficult was it?
12:34.8
Because when you're looking
12:36.7
at the report, you're
12:37.9
basically, it's a
12:40.6
cheat sheet, if I could use your term,
12:42.5
for companies or people
12:45.0
who want to invest,
12:46.9
help the government, and at the
12:48.8
same time, help achieve sustainable
12:50.6
development goals, SDGs.
12:53.0
How were you able to filter
12:56.0
three points where
12:58.4
they would align? Well, it's really
13:00.6
tough, Ron. In fact, what we're
13:02.7
discovering is that in the course of doing
13:04.8
it, we clearly realize that we cannot
13:06.6
provide all the information needed.
13:08.5
But what it does, it
13:10.4
provides a starting point.
13:13.1
And in fact, one of the recommendations
13:17.0
as a concrete next step
13:19.0
is to continue the conversation
13:20.7
to precisely figure
13:23.1
out how do you really unlock
13:24.2
financing. Because there are
13:26.8
funds, as mentioned. But
13:28.4
what are the gaps or what are the challenges
13:31.2
that companies are facing
13:33.0
both on the policy
13:35.2
regulatory framework as well as
13:37.1
the demands of the financing
13:41.5
And these are the things that we need
13:43.1
to know and we need to
13:45.0
put together. And that's why
13:46.9
the map is really seen as
13:48.9
a living document. It's not
13:51.0
like all those 12
13:52.7
investment opportunities that we've
13:55.2
placed there and all of the information.
13:56.9
It's not complete. Clearly, it's not a complete
13:59.0
document. It's not a complete map.
14:01.1
But what it is, it's a starting point.
14:03.3
And we hope, hopefully, by
14:04.9
having a team that continually just
14:06.9
updates this and consults the different
14:09.1
stakeholders in creating
14:11.2
more information or providing more information
14:13.2
allows us for the companies to actually
14:15.0
invest more. I remember when
14:17.0
I was looking at it for the first time,
14:19.0
I said it was the bumble of the development
14:24.8
SDGs, you know, which one would
14:26.9
fit? Because each company has
14:29.1
its own programs. It has its own
14:31.0
priorities and returns
14:33.0
that they need to show to their shareholders
14:35.0
as you were saying. And this
14:37.1
is being done in many countries around
14:39.0
the world. Just launched here
14:41.1
in the Philippines last March
14:43.1
if I'm not mistaken.
14:45.0
How many other countries?
14:47.1
How many other countries?
14:48.0
So in Philippines is one
14:50.0
among 40 countries where the
14:51.9
map has been ruled out.
14:56.1
what's more important with the map
14:57.9
you have mentioned at Europa is
14:59.6
this is a space for discussion.
15:02.0
It is a menu that allows
15:04.2
a discussion between government
15:06.1
and private sector to reflect
15:08.3
on what the priorities are.
15:10.5
That's number one. And how to address
15:12.1
those priorities. The map
15:15.0
the map is an avenue for
15:17.6
discussion. Today's priorities
15:19.6
might change in two years, three years.
15:22.0
But at least there's a methodology
15:23.6
that allows us together to reflect
15:27.2
the opportunities to
15:29.7
invest. If I take for example
15:31.8
renewable energy in
15:33.7
the Philippines. In a country like this
15:35.8
which is going to become an upper
15:37.6
income countries,
15:39.7
one needs to look at
15:41.0
advancing the SDGs at the local
15:45.0
maybe the progress may not
15:47.2
be as fast as in the rest of the
15:49.0
country. So in the map,
15:51.7
one of the 12 sectors,
15:53.5
investment opportunities is
15:55.3
a renewable energy. And the
15:57.3
opportunity is there. There is a plan
15:59.7
for this country to increase the share
16:02.4
of renewables to 50 percent
16:07.1
So there is evidently
16:09.5
a priority being put there. But
16:11.5
there's also an opportunity
16:15.0
So this is the type of
16:17.0
basic reflections that this map
16:22.3
government side, but also in terms of
16:27.2
We encourage that
16:28.6
discussion between the
16:30.9
two sectors because it's a win-win
16:33.0
basically. Of course, a
16:34.9
business case needs to be made for
16:36.6
investment in the renewable energy.
16:38.7
This is not by any means a simple
16:40.7
business case either.
16:42.5
And I suppose that's why there's such a huge gap
16:47.1
materiality of many of the things
16:49.1
that you're trying to rule out.
16:52.0
business side just does
16:55.1
not fit with the development side.
16:57.2
And is there, just one more question,
16:58.8
do you see some sort
17:01.1
of misunderstanding
17:06.9
And do you find that some SDGs
17:09.1
are more advanced than others?
17:10.6
People think it's just all about environment.
17:17.1
Okay, let's go, Rafa.
17:18.7
One could be excused to think it's only climate.
17:22.4
That's why there's 17 SDGs.
17:25.7
This is Rafa's soap opera.
17:28.8
really just environment
17:32.3
the problems of this world are all interconnected.
17:35.2
I mean, climate creates
17:38.7
just concrete example, the
17:40.9
hot weather we have here has
17:43.0
already affected education.
17:45.0
It wasn't hot fashion.
17:48.1
I didn't say that.
17:52.7
we know for a fact because of the heat,
17:56.8
revert back to the
18:03.0
how challenging online classes are
18:04.6
insofar as kids learning
18:06.9
and we saw that in the pandemic
18:08.7
and suddenly you're doing it again now.
18:11.0
So, if you just look at climate
18:15.0
how it affects education, clearly, there's a whole
18:18.1
But you under-report some parts of it.
18:20.2
Yeah, because precisely,
18:21.7
people are unable to appreciate the whole interconnectedness
18:25.0
of these things and probably that's where
18:26.8
again, as we, I think, in a
18:29.0
discussion we had even remotely
18:30.6
outside of this meeting
18:33.2
is that there is,
18:35.0
there seems to be a language gap between
18:37.2
companies as well
18:39.2
as the development sector, even government
18:41.0
for that matter. When we started
18:43.2
talking to companies, we,
18:45.0
we actually see investments
18:47.0
that in our mind or
18:49.0
based on how we understand the SDGs
18:51.0
are actually supporting
18:53.0
SDGs without them actually
18:55.0
knowing it. They don't even know that they're doing it.
18:57.0
They're already doing it.
18:59.0
And just a concrete case, just
19:01.0
when one of the things we discovered
19:03.0
was some of the large
19:05.0
conglomerates have invested in
19:07.0
water purification
19:13.0
So, they do that, precisely,
19:15.0
because they're conscious that if they
19:17.0
don't clean the water that goes back
19:19.0
to the sea, then it harms the sea.
19:21.0
Right? And that harms
19:23.0
the biodiversity in the sea.
19:25.0
While they're doing that, and of course they've
19:27.0
invested tons of money because of this huge
19:29.0
capex to actually put that water
19:31.0
treatment facility. While they're doing
19:33.0
that, they know that even
19:35.0
as they're spewing out cleaner
19:37.0
water in the sea, they know
19:39.0
that the problem lies behind,
19:41.0
that they're shading the same coastline with other
19:45.0
tourism operators that
19:47.0
don't have the capital
19:49.0
expenditure to, or the capital to actually
19:51.0
invest in those kinds of facilities.
19:53.0
So, you can see that even if one
19:55.0
company's doing that, and they can
19:57.0
actually claim that they're addressing
20:05.0
clearly their efforts
20:07.0
may not be enough
20:09.0
to actually make sure that
20:11.0
that whole coastline is clean, right?
20:13.0
That's a huge challenge.
20:15.0
You're talking about the whole planet.
20:17.0
Therefore, you talk about the
20:19.0
interconnectedness again. So, even if
20:21.0
I'm a company, I'm saying I'm doing this,
20:23.0
but when you evaluate
20:27.0
insofar as that coastline is concerned,
20:29.0
then that company is falling short, right?
20:31.0
And therefore, you can see that
20:37.0
country or whole of nation approach
20:39.0
has to really be seen, or even in
20:43.0
Or even in that small
20:45.0
very specific geographical area,
20:47.0
maybe even a local government
20:49.0
with the private sector there, with the other
20:51.0
smaller operators can really look at that.
20:53.0
And what's the best opportunity there?
20:55.0
We saw that, you know,
20:57.0
there could be probably a private-public partnership
21:01.0
who is in water sanitation
21:03.0
and water distribution can invest
21:05.0
in that facility together
21:07.0
with the local government that's managing
21:13.0
some tariffs there that allows for the median
21:15.0
scale, small-medium scale operators.
21:17.0
So it's actually a mind map.
21:19.0
Your SDG investor map
21:21.0
is a mind map. It teaches people
21:23.0
how to work together so that they can
21:25.0
achieve what we have to achieve
21:29.0
But the SDG gives you that mindset
21:31.0
that it is a systemic problem.
21:33.0
The problems of the world is systemic.
21:35.0
Will we meet the goals in 2030
21:37.0
of this investment?
21:39.0
How many years from now, Edwin?
21:41.0
How many years from now?
21:43.0
Do you sleep at night?
21:49.0
every day that I wake up
21:53.0
I meet people from all walks of life
21:55.0
who are actually working very hard
21:57.0
for an acceleration
21:59.0
towards achieving the SDGs.
22:01.0
This government has a very clear
22:03.0
action plan, which is the Philippines
22:05.0
Development Plan in place.
22:07.0
It has a clear vision, which is the
22:09.0
Ambition Nati. So this is the start.
22:11.0
The policy environment, the enabling
22:13.0
environment is in place.
22:15.0
And I'm fully confident that
22:17.0
especially looking at
22:19.0
the stats also, the country is in
22:21.0
remarkable post-COVID recovery.
22:23.0
They are doing the
22:25.0
proper investments.
22:27.0
As long as there is enough
22:29.0
consideration given to
22:31.0
localization of the SDGs,
22:33.0
looking at what's happening in
22:35.0
last-mile areas, I am completely
22:39.0
we will be on target.
22:41.0
We need your positivity.
22:43.0
Thank you so much for being here today.
22:47.0
Thank you for having us.
22:49.0
That's your Mrs. Outlook. I'm Ron Cruz.
22:51.0
And I'm Salve Duplito. The world tonight
22:53.0
comes your way at the top of the next hour.
22:55.0
Keep it here on ANC.
