Shell Philippines has awarded certificates of Carbon Credits Retirement to two operating projects of TVI Resource Development Philippines Inc. (TVIRD), recognizing their responsible mining practices and climate leadership. The Balabag project in Zamboanga del Sur and the Siana project in Surigao del Norte were honored under Shell’s Carbon Compensation Program, which allows businesses and retail customers to offset unavoidable CO₂ emissions through investments in reforestation and conservation initiatives.
The private ceremony, held at Shell’s Makati headquarters, was attended by key officers and staff from both projects and included a learning session on joint sustainability efforts. Shell Sales Manager for Commercial Fuels Jose Mari Macaspac officially handed the certificates to TVIRD President Michael G. Regino and Chief Finance Officer Cynthia S. Delfin.
TVIRD directly operates the Balabag Gold and Silver Project, which utilizes hybrid Merrill-Crowe and Carbon-in-Leach technology powered by diesel. The Siana Gold Project is operated by TVIRD’s wholly owned subsidiary, Greenstone Resource Corporation, and features a modern 1.1-million-ton-per-year Outotec mill, gravity, and Carbon-in-Leach (CIL) facility.
In terms of reforestation and conservation, both projects have planted and maintained a combined total of 1.8 million trees, effectively offsetting carbon emissions and ensuring a sustainable future for their host communities.
Grounded in Climate Responsibility
Shell officials highlighted the importance of carbon credits in reducing the environmental impact of industrial emissions. “While [carbon emissions] are inevitable, these can be balanced and supported by verified global climate projects,” the company noted.
The Carbon Compensation Program enables companies to offset unavoidable greenhouse gas emissions through carbon credits from projects worldwide that actively remove or avoid CO₂, helping organizations demonstrate their climate commitment while working toward long-term decarbonization.
“This partnership reflects our shared commitment to advancing sustainable solutions and supporting high-quality projects that deliver meaningful environmental impact. TVIRD and Greenstone were selected based on their strong alignment with Shell’s vision for responsible and sustainable development,” said Shell Philippines Commercial Fuels Account Manager Isabel Cuevas.
She added, “By working together, we aim to accelerate progress toward climate goals while promoting practices that benefit both local communities and the global environment.”
Greenstone was recognized for sequestering 900 tonnes of CO₂-equivalent emissions into Shell’s global carbon credit portfolio in 2025, while the Balabag Project was awarded for sequestering 965 tonnes of CO₂-equivalent emissions in 2024.
