Coral World Park Launches Php2Billion Reef Conservation Fund

Emergency Fund aimed at potential Oil Spill in Palawan

Monaco, France – August 16, 2018

Coral World Park Undersea Resorts Inc. (CWP) in cooperation with the Dr. AB Monozca Foundation has launched a PHP2Billion (USD$40m) philanthropic Reef Conservation Fund aimed at providing emergency clean up equipment and logistics in case of an oil spill in it’s area in Coron, Palawan in the Philippines. It’s emergency plan is expandable within a 7,000 square mile radius covering key areas where Oil & Gas concessions are present.

Oil & Water separator machine

Oil & Water separator machine

The fund will acquire oil & water separation machines made by a US based company which have been tried and tested by other major oil companies in the world. It will also provide the much needed logistics team to clean up a potential oil spill. There are currently multiple oil concessions around Palawan and is the biggest threat to an expandable marine reserve to protect the environment in Palawan.

The Fund will be administered by a dedicated Trust (CWP Trust) where the Dr. AB Monozca Foundation will match a contribution from the CWP and in return a selected party will contribute whatever the two former parties have contributed in aggregate to have an equal 50-50 contribution.

Foreign Joint-Ventures for Oil & Gas in Palawan, Philippines

Foreign Joint-Ventures for Oil & Gas in Palawan, Philippines

 “The concern is the growing Oil & Gas interests in Palawan especially where our tourism plans are located in the town of Coron. This fund is very small compared to other Oil spill funds around the world but at least it is a start. There are no contributions from any other government related entity or any existing politicians in political office in the Philippines – I want to be clear on this so there are no wrong conclusions. This is a private sector initiative and is a preventive approach.” says Paul Monozca, Chairman & CEO of the CWP.

The fund will be based overseas and will only activate in case of a major oil spill. Selected trustees with strong backgrounds in environmental protection are being invited to manage the emergency fund.The CWP is developing a masterplanned community in the Coron area and aims to create the town to a global tourism destination. It’s philanthropic objective is to support an enhanced Marine Reserve and Reef Conservation initiative in the area via an eco-friendly tourism development which can provide the much needed jobs for the locals and supporting infrastructure for it’s exponential population growth.

Related News - August 2018: Palawan theme park proponent sets up P2-B fund to save reefs

Coral World Park (CWP) establishes Joint-Ventures in the Philippines ; will remain as a Philanthropic Fund

September 10, 2017 - Monte Carlo, Monaco : The CWP has confirmed several joint-ventures for it's property in the Philippine province of Palawan. These joint-ventures will be done with established local developers based in the Philippines and therefore the CWP will remain as a philanthropic fund and/or a JV partner. 

"These local developers have given us the opportunity to achieve a sustainable masterplan in Palawan and for us to remain as a philanthropic fund / investor and joint-venture partner where we also provide the land and brands for a unique customer experience while our local partners will be the developers" said Susan Lee, Head of Corporate Development

In the Philippines, especially Palawan where the province is enjoying exponential growth in tourism, the CWP is continually working with national government and key local government units to create a preventive approach to population growth in the area and most especially to develop an environment friendly masterplan moving forward in line with it's customer experience.

The CWP has acquired 3 global family entertainment brands and 5 luxury and budget resort brands for it's development in the Philippines dubbed as the premier undersea-themed destination in the world by a Middle Eastern travel magazine.

"We thank the national government, the people of Palawan and it's various government units for the support moving forward and we reiterate our commitment to preserve the environment with a sustainable world class project for Palawan" she said.

An environment protection fund which the CWP has created and funded by the Dr. AB Monozca Foundation is proposed to have the Palawan Sustainable Development Council (PCSD) and the Department of Environment and Natural Resources (DENR) as co-chairs under the invitation by it's Chairman. Other members include a british and american NGO with strong track records in Coral Reef Conservation and Marine Reserves.

Related News July 2018 : Coral World Park says it is still pursuing $250M theme park resort in Coron. 

CWP declares 10-point Philanthropy Agenda

  1. Marine Reserve : creation of Asia’s largest Marine Reserve next to Australia’s Great Barrier Reef ; all 16-islands are owned / leased by the CWP to undertake this ; development only will be done on the main freehold property which is a rehabilitation of a former mining site;

  2. Eradication of Destructive Practices :  in all 16 islands covered by an enhanced marine reserve program and with replication to protect Palawan’s pristine beauty as a whole; support for existing Marine Protected Areas (MPA’s) is key driver ;

  3. Re-stocking of Coral Reefs : in all 16 islands which has been affected using the latest technologies ;

  4. R&D Center : creation of R&D center for global warming which addresses key challenges ;

  5. Sanctuaries : development of sanctuaries for turtles, whale sharks, sea cows / dugongs, sea horses and dolphins ;

  6. Showcase of Technology : showcase of cyclone-proof architecture, renewable energy and undersea technology addressing rising tides caused by global warming ; CWP to support local towns infrastructure especially waste disposal due to exponential population and tourism growth ;

  7. Alternative Livelihood : creation of alternative livelihood programs for fishermen (high-tech aqua culture), healthcare and education for residents of the town ;

  8. Replenishment : of fish stocks in the nursery of the region ; feeding 1 Billion people for the next 50 years ;

  9. Regional Job Creation : creation of 2 million direct and indirect jobs in the region ; creation of 20,000 jobs locally in the Philippines

  10. Emergency Assistance : in the event of an oil spill by existing oil rigs in the area of the marine reserve and the creation of an environment protection and security fund for sustainability ;

United Nations Awardee Jacques Fresco, passes away at 101

Jacques Fresco.jpg

May 20, 2017 : He was the inspiration of Coral World Park's ocean protection and shared resources for peace advocacy. Controversial American visionary Jacques Fresco, who envisioned a world with a resource-based economy to bring peace and stability to humanity and who was an industrial designer for 'Cities by the Sea' has passed away at the age of 101. A year before his death he invited a few friends to his home in Venus, Florida to discuss the way forward and received a United Nations Award for City Design & Community ; a one-on-one discussion ensued to blue-print a resource based economy by the sea in Asia. The Coral World Park team was personally led by our Chairman, Paul Monozca and President Arnold Alafriz. The architectural and design team was led by Architect Jose "Pinggoy" Manosa via conference call from Manila.  The CWP continually shares the same thought leadership as Mr. Jacques Fresco on how we can build a better world for humanity. An enhanced initiative integrated with an artificial intelligence (AI) platform is being launched by the CWP and the Dr. AB Monozca Foundation by May 2018.

Link 1 : United Nations Award to Jacques Fresco :