AboitizPower cited for fourth time in ESG index

ABOITIZ Power Corp. has been recognized for the fourth straight year by a global index that measures company performance in showing “strong” environmental, social, and governance (ESG) practices, the firm said on Monday.

The company’s score in this year’s FTSE4Good Index Series climbed by 24% to 3.1 from 2.5 due to improvements in its health and safety initiatives, and its campaigns on diversity, equity, and inclusion, among others.

“Having been recognized as a FTSE4Good constituent for four years in a row is an affirmation of what we are doing. Sustainability has always been at the core of our operations and with this development, we are even more encouraged to strengthen our ESG standards and practices,” AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said in an e-mailed statement.

He added: “While we are proud of what we have achieved so far, we know that we still have a long way to go in terms of sustainability. We will strive to learn and improve where we can so we can continue creating positive change for our communities and stakeholders.”

Developed by global benchmark provider FTSE Russel, the FTSE4Good Index Series consists of benchmarks and tradable indices which ESG investors can use in making decisions.

AboitizPower said its support for environmental conservation is in line with the firm’s commitment to supply reliable, affordable, and sustainable energy through a balanced portfolio mix of compliant renewable and thermal power plants.

AboitizPower is the holdings firm of the Aboitiz group’s investments in power generation, distribution, and retail electricity services.

The publicly listed company produces Cleanergy, its brand for clean and renewable power. In the next 10 years, the company aims to reach a 50-50 portfolio mix of Cleanergy and thermal capacity.

AboitizPower previously reported that its first-quarter attributable net income nearly tripled to P6.18 billion from P2.06 billion in the same period last year, as economic activity slowly picked up.

Shares in AboitizPower were unchanged at P24 apiece on Monday. — Angelica Y. Yang