Report: Oil spill cost PH Php41.2 Billion

The Center for Energy, Ecology, and Development (CEED), a sustainability think-tank, on Monday, released a report estimating that the Mindoro oil spill caused Php 41.2 billion worth of damage to the environment and the livelihood of affected fisherfolk.
 
The report, released two days before the first anniversary of the oil spill, estimates that the damage to the environment is around Php 40.1 billion, while socio-economic losses amount to Php 1.1 billion.
 
“Catastrophic oil spills like the one in the Verde Island Passage are deadly, costly, and can forever change sensitive ecosystems. The oil spill has also impoverished the people not just of Mindoro but other surrounding communities that depend on the resources of VIP for their survival. The Php41.2 billion figure is the approximation of the incalculable human and ecological costs of this tragedy, costs that will continue as we can no longer restore what has been lost,” said Gerry Arances, Executive Director of CEED.
 
The report’s findings are 800% higher compared to government figures, as official assessments failed to include significant implications for affected communities and ecosystems.
 
“The government has yet to produce a comprehensive study detailing the full extent of the impact of the oil spill on the environment and livelihood. This delay not only undermines transparency and accountability but also hampers efforts to address the immediate and long-term needs of affected populations. In the absence of timely and accurate data, the VIP remains a silent victim without any protection afforded to it,” said Arances.
 
Arances also added that in quantifying the monetary value of environmental losses, the study serves as a wake-up call, highlighting the true cost of environmental degradation and the urgent need for accountability.
 
“It is imperative that polluters, including San Miguel which is the owner of the oil, bear the responsibility for restoring ecosystems affected by their actions, and the government must act with haste to ensure that these costs are properly accounted for and addressed.”
 
Father Edwin Gariguez, Lead Convenor of Protect VIP, a coalition advocating for the protection of the VIP, lamented the reforms that have gone unaddressed a year later.
 
“As long as the VIP is not legally protected under the Expanded National Integrated Protected Areas System, the Verde Island Passage will never be safe. One year is ample time for meaningful progress towards protecting the VIP and ensuring its preservation for future generations, time which the government did not use properly,” said Gariguez.