With its pristine white sand beaches, coral formations, and reef fishes, Panglao Island is one of the Philippines’ prime tourist attractions. Over the years, it has been a haven for diving and tourism - attracting millions of tourists every year and boosting business and employment opportunities on the island.
Sadly, this comes with a heavy price, as years of tourism and human activity on the island has resulted in severe environmental damage. With a burgeoning solid waste management problem, and increasing damage to its coral reefs, Panglao island faces a looming environmental destruction that threatens not just its tourism industry, but its natural biodiversity.
In June 2021, inspired by its team of traders in Visayas who are also divers and ocean advocates, ATFX, an award-winning global forex and CFD trading services broker, stepped up to help Panglao Island restore its prized natural resource.
Through ATFX’s corporate social responsibility arm, ATFX Cares, and its local educational partner, SmarTrade Philippines, they joined a coastal clean-up and reef restoration project in partnership with the Municipality of Panglao led by Mayor Montero from June 16-21, 2021.
The coastal cleanup attracted over 100 volunteers from different groups who picked up trash along the coast of Brgy. Doljo in Panglao, with ATFX providing hot meals and giveaways to all participants. Over 541 kilos of solid waste were collected in total, composed of residuals, hard plastics, glen bottles, cans, and diapers.
ATFX also sponsored the restoration of 4 coral beds and donated funds to provide maintenance support for the reef restoration project.
“Healthy coral reefs translate into improved marine biodiversity. This in turn impacts the tourism industry in Panglao and provides employment and opportunities to locals and fishermen living here,” said Danilo Menorias, Reef Ranger and Dive Instructor at Panglao.
“We are grateful for sponsors like ATFX Cares and to the rest of the partner sponsors who helped us preserve the natural beauty and resources of our island.”
As part of its commitment to sustainable eco-tourism and environmental protection in Panglao, ATFX is also a major sponsor of the Bohol Dive Festival 2021.
“ATFX Cares is all about creating a positive impact in communities and people around the world,” said Joe Li, CEO of ATFX. “One of our priorities and advocacies is environmental protection and preservation, and we are deeply honored to participate in this project which also helps the tourism industry in Visayas, with our community partners.”
ATFX has been actively supporting important causes in various parts of the world. Over the years, ATFX has sponsored charity events, such as the Duke of Edinburgh Cup (Qualifying Competition), and supported the “Wear it Pink” campaign and for the benefit of children living in a Children Care Centre in Thailand.
In the Philippines, ATFX has sponsored the Arayat Tree planting project in 2018, as well as delivered goods and emergency packs to Davao earthquake victims (Dec 2019) and provided medical supplies and hot meals to medical frontliners (April 2020).
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