Shell Philippines has awarded certificates of carbon credits retirement to two operating projects of TVI Resource Development Philippines Inc. (TVIRD) – the Balabag Gold and Silver Project in Zamboanga del Sur and the Siana Gold Project in Surigao del Norte – recognizing the company’s commitment to responsible mining and climate action under Shell’s Carbon Compensation Program
The program enables companies to offset unavoidable carbon emissions by supporting verified reforestation and conservation projects.
The certificates were turned over during a private ceremony at Shell Philippines’ Makati headquarters, attended by officers and staff from both projects.
TVIRD operates the Balabag project using hybrid Merrill-Crowe and carbon-in-leach technology powered by diesel, while the Siana Gold Project, operated by TVIRD subsidiary Greenstone Resource Corporation, features a 1.1-million-ton-per-year Outotec mill with gravity and carbon-in-leach processing facilities.
Both projects have implemented large-scale reforestation and conservation programs, with a combined 1.8 million trees planted and grown to help offset emissions and support host communities.
Shell said the recognition highlights the role of carbon credits in balancing emissions from economic activity through verified global climate projects.
“This partnership reflects our shared commitment to advancing sustainable solutions and supporting high-quality projects that deliver meaningful environmental impact,” said Shell Philippines commercial fuels account manager Isabel Cuevas, citing TVIRD and Greenstone’s strong operational discipline and environmental stewardship.
Greenstone was recognized for sequestering 900 metric tons of CO2-equivalent emissions into Shell’s global carbon credit portfolio in 2025, while the Balabag project accounted for 965 metric tons in 2024.
