CREIT recognized for ESG program

MANILA, Philippines — Citicore Energy REIT Corp. (CREIT), the country’s first energy REIT, is committed to further beefing up its environmental, social, and governance (ESG) program after recently being recognized for its ESG initiatives.

CREIT president and CEO Oliver Tan said strengthening the company’s ESG platform is vital amid the debilitating impact of the health crisis.

“Our ESG standards serve as the baseline in achieving our triple bottomline goal of environmental, social, and economic sustainability and we remain thankful to our business partners and investors for recognizing and appreciating our drive to enhance our ESG program to secure the company’s long-term sustainable growth,” Tan said.

CREIT was voted Most Committed to Environmental Stewardship, Most Committed to High Governance Best Standards, and Most Committed to Social Causes during the recently concluded FinanceAsia’s 22nd Best Companies in Asia Poll.

FinanceAsia, a Hong Kong-based publication covering financial and capital markets in Asia, conducts an annual poll among members of the finance industry to determine the best  managed companies in the region in categories that include overall management, corporate governance, corporate social responsibility, and corporate leadership Capital providers, including lenders and investors, participate in the survey and voting process.

“CREIT remains supportive of the country’s desire to return to pre-COVID levels and always looks after the welfare of Filipino families,” Tan said.

“We are glad to be in the energy sector, which remains resilient due to a sustained demand for electricity amid remote work arrangements and enables us to further extend assistance to our partner communities,” he said.

CREIT debuted on the Philippine Stock Exchange last February as the first energy-themed REIT in the country.

The company pioneered the agro-solar concept in the Philippines, which promotes the co- existence between solar power harvesting and vegetable farming.

Various root crops and vegetables are planted underneath the panels to augment income of community farmers living within the vicinity of CREIT’s properties, with a long-term goal of transforming Filipino communities through positive energy and empowering investments through green sources of revenue.