LT Group launches reforestation project

MANILA, Philippines — The Lucio Tan Group, together with Allianz PNB Life Insurance Inc. launched over the weekend a reforestation project, which aims to plant 12 million trees along the Sierra Madre mountains in Luzon.

Led by Lucio Tan III, president of Two Degrees Inc., the Green Canopy Project is an environmental sustainability initiative, which was started by his father, the late Lucio “Bong” Tan Jr.

The project was launched during a ceremonial tree planting activity facilitated by Allianz at the Tan-owned Absolut Distillers property in Lian, Batangas.

The younger Tan replaced his father as president of Two Degrees, and committed to continue his advocacy.

“As of today, 500,000 trees have been planted in the area, which covers part of a total of 24,000 hectares of land. Aside from reforestation, my father had also hoped to provide employment to local communities,” Tan said.

“Rest assured, I intend to continue my father’s green advocacy and other efforts that promote sustainability. I believe in impact investing. I believe that environmental consciousness should be adopted in every level of business in order to secure future stability. It’s the only way to go if we want a future for this planet,” he added.

Tan said he is also confident that his first project will gain support, especially within the LT Group.

“Thank you for being the first among the companies within the LT Group to support the Green Canopy Project. I am confident that we are in good company knowing that Allianz is not only a leading global insurer, but a worldwide leader in sustainability,” he said.

Allianz has been hailed as the Most Sustainable Insurer by the Dow Jones Sustainability Index for the past three years due to its various environmental initiatives in different countries.

“Allianz has taken sustainability very seriously for many years now, even before it has become the ‘buzzword’ that it has become today. In fact it is part of our DNA to protect natural resources, to contribute to a low-carbon economy and to involve ourselves in projects of environment, social inclusion, and proper business governance,” Allianz PNB Life president and chief executive officer Alexander Grenz said.

Aside from donating to the Green Canopy project, Allianz made this green initiative part of its own environmental advocacies and employment engagement projects in the country.