August 10, 2020

HON. JUAN MIGUEL F. ZUBIRI

Senator
Senate of the Philippines

Dear Senatro Zubiri,

Attached please find a letter update from Bamboo Ecologic Corporation (BEC), our American
partner, informing us that they have invested 130,000 Giant Bamboo plants.  Of these, 50,000 are
ready now for planting which equate to 250 hectares

According to our point person from PENRO, Virgilio Alima, he has 500 hectares available in
Buntungon Impalutao, Bukidnon. I hope we can get your support with Usec. Cuna to get 250
hectares on the ground as stated in the letter.

Thank you,

Bob Tinsay
Bob,

As BEC's Head of Carbon offset activities, I feel it is important to highlight the criticality of
TIMING around the current rainy season with regard to this government program.

A first carbon verification event by a neutral auditor will take place in mid 2023.   The quantity
we collectively plant in 2020 will have a disproportionate impact on the quantity of Verified
Carbon Units (VCUs) that we will be allowed to sell on the voluntary carbon market which in
turn impacts  the carbon dividend we can share with planters after this 2023 verification event. 
Put another way, the biomass accumulated by 2023 of a 2020 vintage plant far exceeds the
biomass accumulated by 2021 vintage plant.

For this reason, BEC has taken steps over the past few months to invest in the development of a
Giant Bamboo nursery ecosystem, so that we collectively have enough plants available to plant. 
We are therefore now  in a position to support a 2020 planting campaign that will yield
significant environmental, social and economic impact across the bamboo value chain in
Bukidnon.

This network of 8 nurseries is currently growing 130,000 Giant Bamboo plants.  Of these, 50,000
are ready now for planting.  

It is essential that we collectively do all we can to start planting as soon as possible.  There are
administrative,  land identification, land prepping and GIS mapping activities that are integral to
the process and lead time to the execution of this planting campaign -  therefore planting 130,000
will take months.  We are cautiously optimistic that La Nina will deliver some rain beyond
September this year, but it remains important that we fast track any opportunity to start planting
some of these 130,000, rather than wait till nearer the end of the rainy season.

On this point, allow me to inform you that BEC is initiating with Buktamaco a small pilot
planting of 5000 plants on 25 hectares of IP land.  We are funding this initial planting in order to
confirm and update planting cost assumptions and to communicate to Buktamaco and the
Bukidnon Tagoloanon tribe's leadership and community our intention to expand our existing
commercial relationship around nurseries into planting and carbon offset activities.  This will
also give Buktamaco a chance to stand up an initial technical, supervisory and administrative
team as well as data capture and reporting processes that will be valuable as a Giant Bamboo
planter for other programs, such as the government / DENR's 500 hectare pilot program. 

Please therefore be alert to the calendar. Thank you for anything you can do to fast track any
planting decision and funding from DENR, so that planters can take advantage of the remaining
rainy season, and so that the biomass growth potential by 2023 is taken into consideration.
The 50,000 currently available plants equate to 250 hectares.  Starting now with these 250
hectares would give time for the balance of plants to mature and be ready for planting in
October.

Stay healthy and safe,

Ben Sandzer-Bell
Head of Carbon
Bamboo Ecologic Corporation (BEC)