AboitizPower in FTSE4Good Index For Fifth Straight Year
Aboitiz Power Corporation (AboitizPower) has maintained its spot in the FTSE4Good Index Series for the fifth year, underscoring its drive to uphold corporate sustainability practices.
The company maintained its overall rating of 3.1 out of a rating scale of 5.0, mainly due to its performance in the social and governance themes, highlighting its dedication to people and integrity as a partner in good governance.
“We are honored to be recognized again in this index. This external recognition affirms progress in our continuing sustainability journey. Our inclusion in the index over the past five years provides us insights on how we as a company can do better and deliver more value to society and the planet,” AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said.
Created by global index provider FTSE Russell, the FTSE4Good Index Series measures the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices. A wide variety of market participants use these indices to create and assess responsible investment funds and other products.
AboitizPower has been independently assessed according to the FTSE4Good criteria and has satisfied the requirements to become a FTSE4Good Index Series constituent, keeping its place on the list since 2018.
The company gathered maximum ratings of 5.0 in Anti-Corruption and Risk Management, bringing the aggregate Governance theme score to 4.7. In 2021, the company revised its Code of Ethics and Business Conduct to reflect its adherence to sustainable business practices, prevention of bribery, corruption, and money laundering, and compliance with relevant international trade and data privacy laws.
AboitizPower’s social theme score increased, driven by improvements in the company’s labor standards. Early last year, the company released its Human Rights principles on its website to strengthen its position on addressing its operations' potential impact on various stakeholders' rights.
Furthermore, the company formally institutionalized the Anti-Sexual Harassment and Safe Spaces Acts to prevent all forms of harassment in the workplace.
“More than the destination, sustainability is all about the journey. We are thankful for the valuable lessons and guidance we have received. These will aid us as we continue on this path to a sustainable future for our business and the communities we serve,” Rubio said.
AboitizPower’s support for environmental conservation runs in parallel with the company's mission of providing reliable, affordable, and sustainable energy through a balanced portfolio mix of renewable and thermal power facilities.
The company is eyeing to spend around ₱190 billion over the next decade for an additional 3,700 megawatts (MW) under its Cleanergy portfolio, resulting in a 50:50 balance between its renewable and thermal capacities by 2030.
Over the years, AboitizPower has also built strong partnerships with its host communities and local government units. These partnerships have paved the way for sustained corporate social responsibility initiatives for the communities hosting AboitizPower facilities.
As a partner in nation-building, AboitizPower fulfills its role of driving positive social change primarily through educational scholarships, CSR activities, cooperative assistance programs, and environmental campaigns.
Firmly believing that good corporate governance is integral to sustainable business, the company is determined to deliver business practices that positively impact society and remain relevant to future generations.
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