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Friday, July 19, 2019

GCash goes green with new feature GCash Forest

07/13/2019 11:04:48 PM

As contrasting as some may look, modernization can co-exist with environmental concerns. GCash is just one of the many examples of this.

The country's mobile wallet platform recently launched a feature that enables its users to do their part on reforestation called GCash Forest. This exciting green feature lets every GCash patrons plant virtual trees that will have real-life counterparts. This move is part of GCash's initiative to plant 365 thousand trees in 365 days.

GCash's new feature is inspired by Alipay Ant Forest, which has more than 500 million and have planted 100 million real trees and advanced a shared vision of sustainable and inclusive development. This product is operated by Ant Financial, an Alibaba affiliate and the parent company of the world’s leading payments and lifestyle platform, Alipay. Via the mobile platform, 

“GCash Forest is about making it easier, more convenient, and even rewarding for everyone to take care of our environment for the benefit of future generations,” said Mynt CEO Anthony Thomas. “GCash is no longer just providing an excellent platform for accessible financial products and services but also  enabling Filipinos to be more active in responding to real-life issues, such as climate change mitigation through reforestation.”

The Department of Environment and Natural Resources’ Forest Management Bureau (DENR-FMB) report says that the Philippines is losing 47,000 hectares of forest cover every year. That said, there's a need to rehabilitate 1.2 million hectares of forest lands by 2022 to prevent landslides, ensure water availability, and preserve biodiversity.

GCash considers GCash Forest as a last-mile initiative that fully recognizes the emergence of an all-digital Filipino lifestyle.

To implement its tree-planting initiatives, GCash Forest established ties with the Department of Environment and Natural Resources (DENR), World Wildlife Fund (WWF), and The Biodiversity Finance Initiative (BIOFIN). As part of these partnerships, The DENR will provide land resources in Ipo Watershed, an essential component of the Angat-Umiray-Ipo watersheds system supplying 98 percent of Metro Manila’s water; while WWF will be providing trees and manpower; and BIOFIN will provide expertise on monitoring. 

Thomas added that recent findings on the Philippines’ vulnerability to climate-related hazards call for greater collective action. Results of the Global Peace Index 2019 identified the Philippines as the most susceptible country to the adverse effects of climate change. By leveraging the GCash platform and scale, GCash Forest aims to rally a coalition of individuals, non-government organizations, and international organizations to meet its 2020 targets. 

To plant trees through GCash Forest, GCash users need to collect “green energy” by frequently using the app. Those who get enough green energy can choose which species of trees they want to plant in a selected area at the Ipo watershed. And once the trees are physically planted, users get to receive a certificate of ownership with a serial number, fun facts, and updates on the growth of their trees on their GCash apps.

“Many Filipinos, especially the younger ones, care about the environment but a lot of them don’t know how they can actively take part in environmental protection. This is a barrier that GCash Forest addresses because they only need to use their smartphones—an already integral part of their daily lives—to make a difference,” concluded Thomas. 

Author: slickmaster | © 2019 The SlickMaster's Files

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