3 Lopez companies cited at ASR Rating 2018

By Lenie Lectura – December 26, 2018
from Business Mirror

THREE Lopez companies earned big wins at the recently concluded Asia Sustainability Reporting (ASR) Rating 2018.

Conglomerate First Philippine Holdings (FPH) was awarded the platinum rank, while its subsidiary, leading clean power company First Gen Corp., bagged the silver rank. Geothermal leader Energy Development Corp. (EDC) was awarded the gold rank.

The gold and silver ranks are awarded based on GRI Standards, while the platinum rank is awarded based on GRI Standards, disclosure on GHG emissions and energy, the SDG Compass, and as assured by a third party.

“The recognitions awarded to the First Philippine Holdings, First Gen Corp. and Energy Development Corp. validate the extensive efforts we have been putting into ensuring we have sustainable operations,” FPH Chairman and CEO Federico R. Lopez said. “Climate change is the biggest threat to humanity, and sustainability has been weaved into our business operations, as we do our part in mitigating the effects of climate change.” The ASR Rating 2018 was held by the National Center for Sustainability Reporting (NCSR), in collaboration with the Institute of Certified Sustainability Practitioners (ICSP), in Bandar Lampung, Sumatra, Indonesia. The award was known in previous years as the Sustainability Reporting Awards.

The ASR Rating is conferred to companies that have successfully communicated their sustainability performance to stakeholders through sustainability reports.

“Through a sustainability report, we can assess how far a company has contributed to the achievement of the Sustainable Development Goals [SDG],” said Ali Darwin, NCSR chairman. FPH has interests in key industries such as energy, property, construction and energy services. First Gen, an FPH subsidiary, owns and operates 22 power plants across the country with a total of 3,471 megawatts (MW) of capacity, coming from its large and diversified portfolio of clean energy, such as geothermal, hydro, wind, solar and natural gas. EDC is the largest producer of geothermal energy in the country.