ACB inks partnership with Eton Properties on promoting environmental sustainability and stewardship

MAKATI CITY, PHILIPPINES - In a significant step towards mainstreaming biodiversity in the business sector, specifically in the area of real estate development, the ASEAN Centre for Biodiversity (ACB) and Eton Properties Philippines, Inc. have signed a memorandum of understanding (MoU) on 27 September 2024, the 19th anniversary of the ACB.

The partnership focuses on the effective management of protected areas within or near development sites, conserving natural habitats and creating spaces to enhance and support local wildlife and plant species, enhancing disaster resilience through nature-based solutions and ecosystem-based approaches, sharing of data and research results, and on raising awareness and engaging local communities on biodiversity conservation.

In her opening message during the signing ceremony, ACB Executive Director Dr. Theresa Mundita Lim highlighted the importance of mainstreaming biodiversity in other key development sectors to integrate biodiversity concerns and nature-based solutions (NbS) in the strategic priorities of different sectors in the region. “The role of the private sector, in particular—is crucial for the successful achievement of the goals and targets of the Kunming-Montreal Global Biodiversity Framework. Businesses have relevant knowledge, expertise, and resources that can, directly or indirectly, have positive or negative impacts on biodiversity. Hence, the actions and decisions that this sector makes will be pivotal in our efforts to successfully address biodiversity loss, and its accompanying consequences,” Dr. Lim said.

Eton Properties Philippines President and CEO Kyle C. Tan described the signing ceremony as a significant milestone for their company and the real estate industry. “This partnership demonstrates our shared vision to build a sustainable future, where economic growth complements with the preservation of our natural ecosystems,” President Tan said. He also added that Eton Properties recognizes that responsible development and management of properties goes hand-in-hand with environmental stewardship.

The loss of biodiversity has a direct impact on the rapidly expanding economy of ASEAN, a region which depends heavily on its natural resources and is considered highly vulnerable to climate change impacts. Intact ecosystems can mitigate and help us adapt to these planetary challenges. This ought to compel businesses and sectors involved in economic development to consider nature and biodiversity in crafting their business strategies.

In line with this, in November 2023, the ACB launched the ASEAN Business and Biodiversity Initiative through a groundbreaking agreement with the ASEAN Business Advisory Council. This aims to contribute to ASEAN's transition to a greener and sustainable future for all.