Campaigners from the Philippines have urged British banks not to fund the expansion of fossil fuel use in their country. It follows a huge oil spill that threatened a globally important marine biodiversity hotspot.
Filipino environmentalists have travelled to the UK to meet representatives from Barclays, Standard Chartered and HSBC as part of efforts to stop the expansion of liquefied natural gas (LNG) power plants and terminals in and around the Verde Island Passage, a global marine biodiversity hotspot known for its whale sharks, corals, turtles and rich fisheries, which was badly affected by the oil spill this year.
In February, the Princess Empress oil tanker sank off the east coast of Mindoro island and released 800,000 litres of heavy industrial oil into the sea. The 75-mile slick devastated hundreds of fishing communities on Mindoro, leaving local people requiring medical treatment.
The passage, which connects the South China Sea with busy shipping routes through the archipelago, is the site of increasing LNG activity, with investments from Shell and the San Miguel Corporation, a Philippine conglomerate best known for its beer, in new power plants and LNG terminals.
Filipino activists have urged HSBC, Barclays and Standard Chartered to restrict financing for LNG projects, which they say will only further damage marine life in the area with increased marine traffic.