ACEN Corp. has obtained a higher rating from nonprofit global entity CDP, which measures a company鈥檚 disclosure and environmental performance, the Ayala-led company said on Thursday.
鈥淥ur commitment to environmental transparency through CDP is a pivotal element of our sustainability strategy,鈥 Jonathan Back, chief finance officer and chief strategy officer of ACEN Group, said in a statement.
鈥淚t not only reaffirms our accountability to stakeholders but also enhances our capability to manage environmental risks as we expand our renewable energy portfolio globally,鈥 he added.
The company received a 鈥淏鈥 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鈥檚 鈥淐鈥 score which indicates awareness-level engagement.
With the new rating, ACEN said that it 鈥渟ignifies the company鈥檚 strong environmental accountability to its stakeholders, helping it assess, identify, and manage environmental risks amid a growing renewables portfolio.鈥
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.
鈥淲ith over 23,000 businesses disclosing through CDP this year, it is clear that sustainability 鈥 and the data that underpins it 鈥 is not a 鈥榥ice to have,鈥 but an essential part of long-term success in the business community that is showing no sign of slowing down 鈥 nor should it,鈥 CDP Chief Executive Officer Sherry Madera said.
ACEN said that it has 鈥渁ctively participated鈥 in the climate change questionnaire since starting its disclosures with CDP in 2022.
鈥淭he company鈥檚 ongoing efforts align with the increasing demand for environmental transparency from financial institutions, customers and policy makers,鈥 the company said. 鈥 Sheldeen Joy Talavera
