Lopez Group subsidiaries commit to tap only ‘green energy’ source

by Myrna Velasco – May 27, 2016

from Manila Bulletin

The subsidiaries of the Lopez conglomerate – including its real estate and industrial estate development ventures — can only commit to ‘green energy source’ when it comes to their power usage.

First Philippine Holdings Corporation chairman and chief executive officer Federico R. Lopez set a declaration cementing the group’s commitment to patronize only power supply sourced from clean energy technologies.

In particular, FPH noted that its two subsidiaries – Rockwell Land Corporation and First Philippine Industrial Park (FPIP) are now drafting roadmaps that entail them to source their power needs eventually “from low carbon energy suppliers.”

The Lopez firm noted that “the low carbon preference “will serve as guide in future power supply contracts to be signed by Rockwell and FPIP.”

Lopez just recently indicated that the group “will not build, develop or invest in any coal-fired power plant as part of global efforts to combat climate change.”

He averred “almost no one today doubts that climate change is exacerbated by human activity. Global average temperatures are rising and this is leading to more severe weather occurrences throughout the world.”

The power generation portfolios of the Lopez are generally of renewable energy technologies such as geothermal, hydro, wind and solar; while its fossil fuel-fired facilities are of gas technology  – wherein the carbon emissions would be half of that of coal plants.

The Lopez group reiterated study outcomes pointing to the power generation sector, fundamentally the carbon-intensive coal-fired power plants, “as one of the main reasons behind adverse weather patterns associated with climate change, such as floods, droughts as well as more destructive and more frequent typhoons.”

According to FPH vice president for corporate communications Ricky Carandang, in the Lopez group, “we will challenge ourselves to hurdle a higher bar in support of our Chairman’s declaration.”

He expounded “this means drawing up additional low carbon measures for integration into our various operations.”

With that as a pledge, he noted that FPH and its subsidiaries “have agreed to develop roadmaps that will include internal policies and procedures for further reduction of their own carbon footprint.”