Climate Change Data

ACEN CORPORATION

Climate Impact & Sustainability Data (2019, 2021, 2022, 2023, 2024-01 to 2024-03)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:1,006,202.70 tCO2e (Scope 1); 14,394.02 tCO2e (Scope 2)
Scope 1 Emissions:1,006,202.70 tCO2e
Scope 2 Emissions:14,394.02 tCO2e
Renewable Energy Share:16%
Water Consumption:248,328,292.84 m3
Waste Generated:44,277.15 tons (fly ash)

ESG Focus Areas

  • Renewable Energy
  • Community Engagement
  • Employee Well-being
  • Corporate Governance
  • Environmental Responsibility

Environmental Achievements

  • 12% savings from energy efficiency
  • Carbon Zero product offering carbon offsetting to clients
  • Construction of 120 MW Alaminos Solar Plant and 60 MW Palauig Solar Plant
  • Acquisition of interests in 81MW North Luzon Renewables wind farm, 45 MW San Carlos solar farm, and 80 MW Negros Island solar farm

Social Achievements

  • Implementation of various CSR Programs and stakeholder engagement activities
  • Successful integration of PHINMA Energy employees into AC Energy group
  • Implementation of various Employee engagement activities
  • Sustained safe and healthy workplace (2,543,233 safe man-hours without loss time incident)
  • 15 education programs, 9 environment programs, 4 livelihood programs

Governance Achievements

  • Adherence to the Code of Corporate Governance for Publicly-Listed Companies set forth by the Securities and Exchange Commission (SEC)
  • Appointment of Sherisa P. Nuesa as Lead Independent Director
  • Implementation of various policies (Code of Business Conduct, Policy on Insider Trading, Policy on Related-Party Transactions, Policy Against Sexual-Harassment, Policy on Anti-Fraud, Policy on Gift and Gratuities, Conflict of Interest Policy, Whistleblower Policy, Data Privacy Policy)

Climate Goals & Targets

Medium-term Goals:
  • 5,000 MW of renewables capacity by 2025
Short-term Goals:
  • 1,500 MW of renewables by 2020

Environmental Challenges

  • Attrition rate of 12% due to rapid growth and organizational integration
  • High demand for technical competency in the talent market
  • Risks involved with operating power plants (health and safety risks, natural or man-made calamities, machinery breakdown, oil spills, and other environmental disasters)
  • Affordability of renewable energy technologies compared to conventional power plants
Mitigation Strategies
  • Competitive total rewards and employee programs to retain key talents
  • Preventive maintenance and pre-emptive action to manage operational risks
  • Regular operational meetings to anticipate and address potential risks
  • 3-year rehabilitation plan for SL TEC to ensure plant reliability
  • Exploration of new technologies and best practices for cost-effective renewable energy growth
  • Allocation of capital towards peaking plants to complement renewable energy growth

Supply Chain Management

Responsible Procurement
  • Vendor Accreditation System

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: International Integrated Reporting Framework (), Global Reporting Initiative (GRI) Standards

Third-party Assurance: DNV GL

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:2,152,062.15 tCO2e
Scope 1 Emissions:2,141,993.03 tCO2e
Scope 2 Emissions:10,069.12 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:23,387,841.20 GJ
Water Consumption:257,437,958.44 m3
Waste Generated:82,196.77 tons (flyash)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Not disclosed
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • 96% procurement budget spent on local suppliers in 2021

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:2,088,950.62 tCO2e/year (attributable)
Scope 1 Emissions:184,052 tCO2e/year
Scope 2 Emissions:6,993 tCO2e/year
Scope 3 Emissions:4,870,476 tCO2e/year
Renewable Energy Share:98%
Water Consumption:196,641.19 m3/year (consumption)
Waste Generated:1,555,588.02 kg/year (hazardous)
Carbon Intensity:4,694.36 GJ/GWh (2022)

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • Resource Efficiency
  • Human Capital
  • Community Engagement
  • Corporate Governance
  • Anti-corruption
  • Diversity in Leadership

Environmental Achievements

  • Completed the world’s first market-based Energy Transition Mechanism (ETM) transaction, enabling the early retirement of the 246 MW SL TEC coal plant by 2040 and its transition to cleaner technology. This will help avoid or reduce up to 50 million metric tons of carbon emissions.
  • Completed Net Zero roadmap aligned with climate-science 1.5°C pathway.
  • Protected ~2,100 hectares of natural habitat areas and planted ~731,000 trees.
  • Implemented an integrated circular approach within its developments, diverting ~45,400 kg of plastic waste from landfill and producing ~336,000 eco-products.

Social Achievements

  • Created ~19,500 jobs.
  • Invested ~₱123M in community investments.
  • Achieved an employee engagement score of 93%.
  • Maintained a top talent retention rate of 95%.

Governance Achievements

  • Established a board-level Sustainability Committee and an executive-level ESG Committee.
  • Received the prestigious Three Golden Arrow Award from the Institute of Corporate Directors.
  • No reported incidents of corruption in 2022.

Climate Goals & Targets

Long-term Goals:
  • Achieve Net Zero greenhouse gas emissions by 2050.
Medium-term Goals:
  • Reduce scope 1, 2, and 3 GHG emissions by specified percentages by 2040 (detailed targets in report).
Short-term Goals:
  • Reduce scope 1, 2, and 3 GHG emissions by specified percentages by 2030 (detailed targets in report).

Environmental Challenges

  • High energy prices raised the cost of purchased power.
  • High fuel prices and fundamental tightness in supply resulted in elevated spot market prices in the Philippines.
  • Typhoon Rai damaged transmission lines in the Visayas, preventing export of power from renewable energy plants.
  • Global supply chain challenges led to delays in project completion.
Mitigation Strategies
  • Implemented a Just Energy Transition by adopting the principles of the Energy Transition Mechanism.
  • Completed the full divestment of the South Luzon Thermal Energy Corporation coal plant using the ETM framework.
  • Expanded its pipeline of development projects through strategic partnerships.
  • Improved and streamlined business processes, deployed appropriate technologies, and leveraged outsourced services.

Supply Chain Management

Responsible Procurement
  • Alignment to E&S Policy
  • Close coordination and continuous dialogue with suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Temperature extremes
  • Coastal flooding
  • Drought and tropical cyclones
Transition Risks
  • Regulatory and litigation
  • Technology
  • Reputation
  • Market
Opportunities
  • Energy efficiency
  • Materials use efficiency
  • Energy resilience
  • Innovation in products and services
  • Prospects in new markets

Reporting Standards

Frameworks Used: TCFD, SASB, Framework, UN SDGs, CDP, GRI Standards: Core Option

Certifications: ISO 14001:2015, ISO 45001:2018

Third-party Assurance: DNV Business Assurance Singapore Pte. Ltd.

Sustainable Products & Innovation

  • Eco-products from recycled plastic waste

Awards & Recognition

  • Numerous awards listed in the report for green bonds, sustainable finance, M&A deals, project finance, innovation, and sustainability.

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:5,058,123.92 tCO2e/year
Scope 1 Emissions:109,451.85 tCO2e/year
Scope 2 Emissions:16,899.17 tCO2e/year
Scope 3 Emissions:5,058,123.92 tCO2e/year
Renewable Energy Share:99%
Carbon Intensity:453.61 tCO2e/GWh in 2023

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • People
  • Governance

Environmental Achievements

  • Reduced Scope 1 emissions from generation activities by 62% from 2021 baseline.
  • Achieved a 15% reduction in emissions from own generation and retail activities compared to the 2021 baseline.
  • Planted ~978,000 trees (98% of 1M trees target by 2025).
  • ~94 KT carbon stored in Ilocos Norte Conservation Estate (equivalent to 345 KT CO2e avoided).

Social Achievements

  • Invested over ~₱14 million in training and development programs.
  • 92% of employees responded favorably to Sustainable Engagement items.
  • 96% top talent retention rate.
  • ~20,450 jobs created across 39 sites.
  • ~₱636 million community investments.

Governance Achievements

  • Received four Golden Arrows from the 2023 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards.
  • Established supplementary policies in 2023 to strengthen governance on crucial ESG themes.
  • Zero incidents of corruption and no breaches of the Code of Conduct.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
Medium-term Goals:
  • Achieve Net Zero GHG emissions by 2050.
  • Develop, operate and own 20 GW of renewables by 2030.
Short-term Goals:
  • Reduce water consumption by 10% by 2025 (implied)

Environmental Challenges

  • Large construction projects faced execution challenges related to grid connection, extreme weather, and right-of-way issues.
  • Slight increase in emissions from mobile sources and Scope 2 emissions.
Mitigation Strategies
  • Successfully commenced full operations of six new projects (1.6 GW) by the end of 2023.
  • Exploring options to install or procure renewable energy to directly reduce emissions under target 2.
  • Implemented climate-resilient infrastructure design in Vietnam wind farms.
  • Developed rapid emergency repair teams across solar and wind farms.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct
  • HSE assessments during supplier onboarding

Climate-Related Risks & Opportunities

Physical Risks
  • Temperature extremes
  • Fluvial flooding
  • Coastal flooding
  • Wildfire
  • Water stress
  • Tropical cyclone
Transition Risks
  • Changes in wind patterns, heat indices, and global supply chain affecting value of renewable energy technologies.
Opportunities
  • Development of energy-efficient products and services

Reporting Standards

Frameworks Used: TCFD, GRI Standards: Core Option, SASB Standards for electric utilities & power generators, Integrated Reporting Framework, UN Sustainable Development Goals

Certifications: ISO 14001:2015 (EMS), ISO 45001:2018 (OHS)

Third-party Assurance: SyCip Gorres Velayo & Co. (limited assurance on selected GRI and SASB disclosures); Carbon Check (India) Private Limited (verification of GHG removal)

UN Sustainable Development Goals

  • 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17

Various initiatives align with multiple SDGs, including poverty reduction, health, education, gender equality, clean energy, climate action, responsible consumption, and partnerships.

Awards & Recognition

  • Four Golden Arrows (2023 ASEAN Corporate Governance Scorecard Golden Arrow Awards)
  • Top Sustainability Advocate in Asia
  • Asia Pacific Emerging Energy Deal of the Year (ACEN's ETM deal)
  • Gold for CSR & ESG Leadership Award (2023 Asiamoney Asia’s Outstanding Companies Poll)
  • Platinum for Best in Country Excellence Award (Philippines) (2023 Asiamoney Asia’s Outstanding Companies Poll)
  • Most Outstanding Company in the Energy Sector (2023 Asiamoney Asia’s Outstanding Companies Poll)
  • Development Deal of the Year (Uxolo Development Finance Path Finder Awards 2022)
  • Best Issuer for Sustainable Finance (The Asset Triple A Country Awards for Sustainable Finance 2022)
  • Most Innovative Deal (The Asset Triple A Country Awards for Sustainable Finance 2022)
  • Best Equity Deal (Proximo)
  • Best Issuer for Sustainable Finance (The Asset Triple A Sustainable Finance Awards 2024)

Reporting Period: 2024-01 to 2024-03

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:99% of attributable capacity (4,784 MW of 4,852 MW)
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Not disclosed

Environmental Achievements

  • Renewables output reached 1,580 GWh which is +49% year-over-year driven by production from newly operational plants.

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Reach its 20-GW renewable energy target by 2030
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Lower Wholesale Electricity Spot Market (WESM) price environment compared to last year tempered revenue growth in the Philippines.
  • Higher overhead expenses due to development ramp up.
Mitigation Strategies
  • Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed