In a resounding testament to its unwavering commitment to excellence in corporate governance, Aboitiz Power Corporation (AboitizPower) has secured the prestigious Golden Arrow Award for the second year running.
AboitizPower Shines Bright with Yet Another Golden Arrow: (L-R) Corporate Secretarial Manager Kat Arsua, Chief Legal and Compliance Officer Atty. Mickey Colayco, AVP - Governance and Compliance Atty. Clarisse Osteria, and Corporate Document Assistant Raymond Paran. | Photo: AboitizPower
This accolade, bestowed upon the company, underscores its continued success in propelling businesses and communities toward sustainable growth.
Receiving a three-arrow recognition, AboitizPower achieved an impressive score of 105.86 out of a possible 130 in the 2022 ASEAN Corporate Governance Scorecard (ACGS) assessment for publicly listed companies.
This achievement showcases AboitizPower's unwavering compliance with the Philippine Code of Corporate Governance and its alignment with international best practices.
The ACGS meticulously evaluates various facets of corporate governance, including the rights of shareholders, equitable treatment, stakeholder engagement, transparency, and the responsibilities of the board.
Emmanuel Rubio, President and CEO of AboitizPower, expressed his pride in the company's accomplishments, saying, "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's dedication to environmental, social, and corporate governance (ESG) strategies has been a cornerstone of its operations.
The company, a part of the Aboitiz Group, has been recognized for its exemplary environmental stewardship, social responsibility, good governance, and corporate citizenship over the decades.
This commitment was further amplified with the launch of the Aboitiz Group's "Great Transformation" initiative in 2022, positioning itself as the Philippines' first techglomerate.
While already a key player in Philippine development through its power generation and distribution assets, AboitizPower is now focusing on decarbonization, digitalization, and decentralization as part of its transformation beyond its core business.
The company aims to grow its renewable energy portfolio to 4,600 megawatts, constituting 50% of its generation mix in the next decade, thus facilitating the country's transition to a cleaner energy mix.
Furthermore, AboitizPower is modernizing its energy systems, introducing cutting-edge technologies such as "digital twin" in thermal power plants and digital distribution utilities. These advancements enable real-time monitoring and rapid responses to disruptions.
As the leading power producer in the Philippines, AboitizPower holds a diversified portfolio of assets, including hydroelectric, geothermal, solar, and thermal power generation facilities.
The company also owns distribution utilities operating in Luzon, Visayas, and Mindanao, solidifying its pivotal role in the nation's energy landscape.
In alignment with the Philippines' ambition to have a 35% share of renewable energy in its power generation mix by 2030, AboitizPower remains committed to investing in renewable energy projects.
With over 1,000 MW of disclosed projects from various indigenous sources, including solar, hydro, geothermal, wind, and energy storage systems, AboitizPower continues to lead the charge in providing diverse renewable energy options in the Philippines.
In sum, AboitizPower's consecutive Golden Arrow Awards underscore its steadfast commitment to corporate governance, sustainability, and its pivotal role in driving the Philippines toward a greener and more sustainable energy future.