ACEN obtains higher rating from CDP
ACEN Corp. has obtained a higher rating from nonprofit global entity CDP, which measures a company’s disclosure and environmental performance, the Ayala-led company said on Thursday.
“Our commitment to environmental transparency through CDP is a pivotal element of our sustainability strategy,” Jonathan Back, chief finance officer and chief strategy officer of ACEN Group, said in a statement.
“It not only reaffirms our accountability to stakeholders but also enhances our capability to manage environmental risks as we expand our renewable energy portfolio globally,” he added.
The company received a “B” score, which indicates that it has addressed the environmental impact of its businesses and that it has ensured good environmental management.
This rating is two levels up from its last year’s “C” score which indicates awareness-level engagement.
With the new rating, ACEN said that it “signifies the company’s strong environmental accountability to its stakeholders, helping it assess, identify, and manage environmental risks amid a growing renewables portfolio.”
The company attributed the improvement in its CDP score to its energy transition mechanism (ETM) made for the full divestment of the 246-megawatt South Luzon Thermal Energy Corp. coal plant.
Under the ETM framework, the coal plant will be retired by 2040, reducing its operating life of up to 50 years by half and reducing up to 50 million metric tons of carbon dioxide.
“With over 23,000 businesses disclosing through CDP this year, it is clear that sustainability — and the data that underpins it — is not a ‘nice to have,’ but an essential part of long-term success in the business community that is showing no sign of slowing down — nor should it,” CDP Chief Executive Officer Sherry Madera said.
ACEN said that it has “actively participated” in the climate change questionnaire since starting its disclosures with CDP in 2022.
“The company’s ongoing efforts align with the increasing demand for environmental transparency from financial institutions, customers and policy makers,” the company said. — Sheldeen Joy Talavera
