The Strategic Plan for Judicial Innovations 2022-2027

THIS is an invitation for the business community to be acquainted with the “Strategic Plan for Judicial Innovations,” or “SPJI.” This was launched last October 14, 2022 by the Supreme Court and details the specific programs and projects being undertaken or to be undertaken for judicial reform.

It has become a tiresome complaint of businessmen and others that the courts are slow in their processes, resulting in effectively denying justice to litigants. We rant against corruption and incompetence, bias and palakasan (rent seeking), complicated procedures and inaccessibility of judicial services, etcetera, etcetera.

We should read the SPJI document (https://sc.judiciary.gov.ph/spji/), listen to the Chief Justice Alexander G. Gesmundo and watch the very informative materials of the Public Information Office of the website of the Supreme Court, available on their website and other social media platforms. And take comfort and hope.

The SPJI is a product of consultations with various stakeholders and, for a strategic plan, it passes the tests of comprehensiveness, do-ability, specificity of tasks, identification of responsibilities, measurability of performance and clarity of purpose.

The SPJI describes what is to be done and how it shall be done and why it must be done. It is “The Road to Responsive and Real-Time Justice.”

It is anchored by four guiding principles: n Timely and fair justice; n Transparent and accountable justice; n Equal and inclusive justice; and, n Technologically-adaptive management

To achieve the following outcomes:

1. Efficiency;

2. Innovation; and, total of 774 million with co-financing reaching over $5 billion with the support of agencies like the Asian Development Bank and the World Bank, among many others.

3. Access.

There is available online a digital booklet that explains all these items. It is worth spending time to read this document. Then to ponder and seek ways on how to participate in getting these outcomes achieved —for we can, as stakeholders in the business sector.

But there is nothing like listening to the Chief Justice express his resolve to get things done during his term. I listened to him and watched him present the SPJI during the Management Association of the Philippines inaugural meeting last January 31. His vision for reform was very clear. His words carried the force of steadfast purpose. His voice was assertive and confident.

We have a good leader here—for the judiciary and the country.

Santiago Dumlao is the Secretary General of the Association of Credit Rating Agencies in Asia and chairman of the market governance board and market policy committee of the Philippine Dealing & Exchange Corp. His views do not necessarily reflect those of the BusinessMirror’s.

Counter-financing

IN presenting an overview of the GEF in the Philippines during a forum last January 18, Orolfo noted the evolution from the piloting phase during the first to third GEF rounds, the “taking-off period” under the fourth to fifth GEF rounds, Institutionalization under GEF 6, and “Going for Greater Impacts” under the GEF 7.

“Now GEF 8, we have adopted ‘Systematic and Transformational Strategies’ that will support integrated approaches and ensure programs are inclusive and prioritizes the most vulnerable projects with potential for scalable transformation or impacts,” he said.

According to Orolfo, the FASPS and the GEF Secretariat along with other GEF agencies will integrate the different proposals.

“We are adopting the integrated approach because it is stronger and better in terms of impact,” he said.

Orolfo said the 40-percent increase in the allocation for the PHL “is an opportunity to provide some financing gaps to funding different environmental concerns.”

He said the government and the GEF actors will adopt metrics to measure the impact of the projects.

“In the end, it should trickle down to the communities but, at the same time, it should also have a global impact,” Orolfo said.

“From the project implementors, we expect them to consolidate resources.”

He noted the GEF allocation for the Philippines would be buffered by cash and non-cash counter-financing.

CRYPTO HUB? This January 27, 2022 photo shows the Hong Kong skyline from Victoria Peak, Hong Kong. Local crypto operators say their presence is clearing up any doubts about Beijing’s attitude toward Hong Kong’s efforts to become a crypto hub. The low-key support shows that officials are keen on using the laissez-faire city as a testing ground for digital assets as they keep a tight rein on any such activity on the mainland. CREDIT: BloomBERg

Briefs

➜ Thrift bank names new execs City Savings Bank inc. (CitySavings) recently announced the appointment of Ana Aboitiz-Delgado as chairman of its board. Delgado, concurrently serving as senior executive vice president, chief customer experience officer and chief digital channels officer of Union Bank of the Philippines, has been credited in expanding the lender’s digital customer base. Lorenzo t Ocampo was also appointed as vice chairman and CEO of CitySavings while Manuel G. Santiago Jr. assumed the position of president and chief operating officer of the thrift bank. Outgoing CitySavings Chairman and UnionBank Chief technology and Operations Officer and Chief transformation Officer Henry R. Aguda was appointed the new president and CEO of UnionDigital Bank inc. Rizal Raoul S. Reyes

➜ Insurer launches new product tHE Manufacturers Life insurance Co. Philippines inc. (Manulife PHL) launched last Friday a single-pay variable life insurance plan that would invest in a variety of funds. Manulife PHL President and CEO Rahul Hora was quoted in a statement as saying the product the firm calls “WealthOne” provides customers with “flexible life insurance coverage that can go as high as 500 percent of their single premium and a guaranteed start-up bonus equal to 1.5 percent.” Hora added that customers can enhance their coverage by adding protection benefits. they can also choose from a wide range of local and global investment funds to diversify and maximize their earning potential, he added. Rizal Raoul S. Reyes

➜ Lender’s investment unit honored

SB Capital investment Corp. (SB Capital), the investment arm of Security Bank Corp., was recognized by Hong Kong-based financial publisher Asset Publishing and Research Ltd. for its participation in various fund-raising activities for refinancing and capital expenditure needs. the lender said its investment arm was given the “Best transition Bond” award for its participation as a joint lead underwriter and joint bookrunner for SMC Global Power Holdings Corp.’s P40-billion fixed rate bond and the “Best Local Currency Green Bond” award for being a joint lead underwriter and joint lead bookrunner for ACEN Corp.’s P10 billion Asean Green bond. Rizal Raoul S. Reyes