AboitizPower recognized anew for governance

MANILA, Philippines — Aboitiz Power Corp. has been recognized anew for its corporate governance, as well as its continued efforts in advancing businesses and communities in a sustainable manner.

For the second consecutive year, AboitizPower has been awarded the Golden Arrow Award, receiving a three-arrow recognition after achieving a score of 105.86 out of 130 in the 2022 ASEAN Corporate Governance Scorecard (ACGS) assessment for publicly-listed companies.

It marks AboitizPower’s compliance with the Philippine Code of Corporate Governance and a favorable standing with international best practices.

The ACGS takes into account the rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and responsibilities of the board.

AboitizPower attributed the win to the rise in the volume of public disclosures published on its website, as well as its board of directors’ more earnest and active participation in overseeing and shaping the implementation of the company’s environmental, social, and corporate governance (ESG) strategies.

This includes the strengthening of its anti-bribery and corruption guidelines and promotion of sustainable business practices within the company and across its whole value chain.

“This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” AboitizPower president and CEO Emmanuel Rubio said.

The company has set a goal of growing its renewable energy portfolio to 4,600 megawatts or 50 percent of its generation mix by the next decade to aid the country’s energy transition to a cleaner power mix.

It has also started the modernization of its energy systems — from upgrading substations to be digital in distribution utilities to introducing digital twin technologies in thermal power plants — which will enable real-time monitoring and preventive or responsive measures to disruptions.