Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Indofood’s Agribusiness group adopts the principles of sustainable agriculture, implementing sustainable palm oil based on ISPO/RSPO standards, maintaining High Conservation Value (HCV) and High Carbon Stock (HCS) areas, preserving peatland, improving organic agricultural input and preventing haze risk.
• Goodman Fielder is committed to sourcing certified sustainable palm oil (CSPO) for all our products in Australia and New Zealand using the mass balance supply chain model.
• Goodman Fielder announced our commitment to use cage-free eggs for all products manufactured in Australia and New Zealand.

Social Achievements

• First Pacific Group leads its CSR initiatives from the highest level. Management at Head Office and within our operating companies leverage their leadership, industry expertise and employees’ participation to provide timely and long-term support to their communities.
• Indofood’s social and community development comprises five pillars: Building Human Capital, Nutrition for All, Strengthening Economic Value, Protecting the Environment and Solidarity and Humanity.
• PLDT-Smart Foundation (PSF) has been a source of hope for many indigent families across the Philippines. Initiatives focus on education, sports and disaster response.

Governance Achievements

• First Pacific is committed to building and maintaining high standards of corporate governance.
• The Company’s first ESG report was published on the websites of the SEHK and the Company in mid-July 2017.
• All Directors have confirmed compliance with the Model Code for Securities Transactions.

Climate Goals & Targets

Environmental Challenges

• Headwinds in key markets and industries
• 5% depreciation in the average Philippine Peso
• Increasing interest rates
• Lower overall level of dividend income
• Regulatory uncertainty risks relating to the inaction or delayed decisions/resolutions on pending and future applications, petitions and cases before the Energy Regulatory Commission (ERC)

Mitigation Strategies

• Reduced borrowings and interest bill
• Review of assets with an eye towards disposing of non-core investments
• Cost cutting
• Closely monitoring developments in cases and actively participating in the hearings and in the deliberations of new draft rules at the ERC
• Developing alternative water supply (Maynilad)

Supply Chain Management

Responsible Procurement

• Goodman Fielder adopted Wilmar’s No Deforestation, No Peat and No Exploitation Policy for sourcing ingredients

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters

Awards & Recognition

• PLDT winning four out of six awards from OpenSignal for quality of mobile experience

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Indofood: Over half of total energy consumption derived from renewable energy sources (mainly palm kernel shells and fiber). Agribusiness group: 99% of palm oil mills fuel sources are renewable.
• PLDT: Continuous network improvements recognized by Ookla and umlaut.
• MPIC: Shore It Up! underwater and coastal clean-up with 145 volunteer divers.
• Philex: Padcal mine reforested with eight million trees, 90% survival rate.
• PLP: Technologically advanced facility certified as a Clean Development Mechanism project under the United Nations Framework for Climate Change.
• RHI: 40% reduction in wastewater generation at CACI.

Social Achievements

• Indofood: Supports Indofood Riset Nugraha research grant and Indofood Rumah Pintar educational community centers.
• PLDT: Gabay Guro Program supported 1,770 scholars, distributed 9,082 Sack of Joy bags.
• MPIC: Health It Up! medical mission treated 422 patients.
• Philex: HELPS program provided health services, livelihood projects, and infrastructure support to host and neighboring communities.
• PLP: Crea8 Sustainability competition engaged over 250 students.
• RHI: Collaborative livelihood projects launched in bamboo plantation, sustainable agriculture, and tailoring.

Governance Achievements

• Established a Finance Committee and an Ad Hoc Selection Committee to improve investment strategies, capital allocation, and board composition.
• Added a fifth INED and a fourth NED to the board of directors.
• Reviewed and updated the First Pacific Code on Corporate Governance Practices.

Climate Goals & Targets

Environmental Challenges

• Indofood: Increased competition in Indonesia's food market, potential impact of Covid-19 outbreak.
• PLDT: Lower consolidated core net income, higher manpower rightsizing program expenses.
• MPIC: Lower contribution from water business, uncertainty over contracted tariff increases.
• Philex: Lower volumes of metal sold due to lower production, ore grades, and copper prices.
• PLP: Lower non-fuel margins, higher marketing and interest expenses.
• RHI: Lower cane supply due to competition and lower farm productivity.
• Covid-19 pandemic impacting demand for goods and services.

Mitigation Strategies

• Indofood: Strengthening brand equity, product innovation, export sales expansion, raw material sourcing diversification, cost saving initiatives.
• PLDT: Continuous network improvements, capital expenditure to support growing data traffic.
• MPIC: Divestment of MPHHI, new water projects, share buyback program.
• Philex: Exploration for additional mine assets, preparation for equity investor in Silangan Project.
• PLP: Relying on efficiency advantage and marketing to defend market share.
• RHI: Cost control measures to maintain profitability, debt reduction opportunities.
• First Pacific: Prioritizing debt reduction and share repurchases.

Supply Chain Management

Responsible Procurement

• Indofood: Standards carefully controlled in accordance with Indofood’s Integrated Total Quality Management Program and Good Manufacturing Practices.

Climate-Related Risks & Opportunities

Physical Risks

• Indofood: Unpredictable weather patterns, natural disasters.

Awards & Recognition

• First Pacific: Caring Company, Good MPF Employer, Green Office, Eco-Healthy Workplace

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Human Rights
• Supply Chain Management
• Biodiversity

Environmental Achievements

• 14% year-on-year decrease in total energy consumption at Head Office compared with 2021
• 67.7% renewable energy utilization at Indofood
• 59% reduction in waste diverted to landfill at Philex
• 53% increase in renewable energy consumed at LRMC
• Planted over 1 million trees at Maynilad

Social Achievements

• First Pacific Head Office raised nearly US$1 million for Typhoon Odette victims
• More than one million communities vaccinated through Indofood’s program
• PLDT donated over 30,000 relief packs to Typhoon Odette victims
• Philex provided scholarships to 2,744 students
• IndoAgri conducted 710 visits to ensure ISPO compliance

Governance Achievements

• Established a gender diversity target of 20% for its Board of Directors
• Updated Code of Conduct and Anti-Bribery and Corruption Policy in 2022
• Zero whistleblowing cases or allegations in 2022
• Zero reported cases of corruption at First Pacific or Investees in 2022
• Formal Cyber Security Policy approved by the Board

Climate Goals & Targets

Environmental Challenges

• Climate change physical risks (extreme weather)
• Climate change transition risks (financial, regulatory, market risks)
• Supply chain disruptions
• Maintaining high ESG standards across diverse Investees

Mitigation Strategies

• Implementing climate-related risk assessments and mitigation/adaptation strategies
• ESG Impact Assessment Policy and Responsible Investment Policy for due diligence
• Supplier Code of Conduct
• Regular communication with Investee boards and management
• Investing in renewable energy sources and energy efficiency improvements

Supply Chain Management

Supplier Audits: 710 visits, audits, and workshops at IndoAgri (100% coverage)

Responsible Procurement

• Supplier Code of Conduct
• Sustainable procurement practices at Indofood and IndoAgri

Climate-Related Risks & Opportunities

Physical Risks

• Damage caused by extreme weather

Transition Risks

• Financial risks
• Regulatory risks
• Market risks
• Reputation and liability risks

Opportunities

• Investing in renewable energy
• Developing energy-efficient products

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, SEHK ESG Reporting Guide, UN Global Compact Ten Principles, TCFD Recommendations

Certifications: CarbonCare® Label, CarbonCare® Star Label, ISO 45001 (Indofood), ISO 50001 (Indofood)

Third-party Assurance: Carbon Care Asia Limited (Head Office GHG emissions)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• See Section 9 for a list of awards received

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Energy and GHG Emissions
• Waste Management
• Water and Wastewater Management
• Employee Development, Diversity and Engagement
• Employee Health, Safety, and Well-being
• Labor Practices
• Supply Chain Management
• Product Quality and Safety
• Responsible Marketing
• Community Relations
• Board Composition and Governance
• Risk Management
• Responsible Investment
• Cyber Security

Environmental Achievements

• 1.9% year-on-year decrease in total GHG emissions per dollar of revenue compared with 2022 (Head Office)
• Completely offset Scope 2 GHG emissions via purchase of 95,000 kWh of renewable energy (Head Office)
• 8.4% reduction in absolute GHG emissions (62,100 tCO2e) from energy sector relative to 2018 base year (Indofood)
• 66.1% total energy consumption is made up of renewable sources (Indofood)
• 100% of biomass waste (equal to more than 5.87 million tons) reused as waste to renewable energy since 2018 (Indofood)
• Generated 19,954 MWh of electricity from renewable energy (PLDT)
• Secured 100% renewable energy from a geothermal source to power its facilities (PLDT)
• Established a 2030 decarbonization roadmap of reducing Scopes 1 and 2 emissions by 40% (PLDT)
• 5 biodiversity conservation partnerships (MPIC)
• 97,370 hectares of terrestrial or marine protected areas for rehabilitation or protection (MPIC)
• 31% of recycled waste (MPIC)
• 12% decrease in total generated hazardous waste compared to 2022 (Maynilad)
• Anabu Modular Treatment Plant fully operational, producing up to 16 million liters per day of potable water (Maynilad)
• Completed the first phase of its Advanced Turbine Efficiency Upgrade, improving output by 15MW and reducing carbon emissions by over 18,000 tons annually (PLP)
• A total volume of 11,001,992 cubic meters of water was reclaimed (Philex)
• Reforestation activity covered 64 additional hectares (Philex)
• Planted more than 12 million trees on 4,700 hectares in project sites (Philex)

Social Achievements

• Donated US$468,000 to supported charities and non-government organizations (Head Office)
• Partnership with more than 80,000 farmers and more than 120,000 SMEs (Indofood)
• 100% Indofood production facilities certified with an international Food Safety or Quality Management System (Indofood)
• PLDT’s Digital Farmers Program trained 2,946 farmers (PLDT)
• 16.3 billion cyber attacks and data breaches prevented (PLDT)
• 100% employees trained with a minimum of 4 hours training for each employee (MPIC)
• 100% employee volunteers with a minimum of 2 hours of volunteerism service (MPIC)
• Donated 49 units of drinking fountains (Maynilad)
• 18% reduction in hazardous waste disposal through intensified materials recovery (LRMC)
• Acquisition of Medical Center Imus and Antipolo Doctors Hospital (Metro Pacific Health)
• Over 140 kg of trash was collected and S$5,600 raised for charity (PLP)
• Provided scholarships, financial assistance, and subsidies to 2,705 students (Philex)

Governance Achievements

• Implemented a Board Diversity Policy
• Updated Code of Conduct
• ESG Impact Assessment Policy
• Responsible Investment Policy
• Whistleblowing Policy
• Cyber Security Policy

Climate Goals & Targets

Environmental Challenges

• Uncertainty how differing paces of adoption of IFRS S1 and S2 across the Group’s jurisdictions will affect the overall consistency in reporting quality
• Expanded sustainability and climate change reporting requirements require meaningful investments of time and money

Mitigation Strategies

• Incorporating the Company’s first in-depth stakeholder survey since 2019 to ensure that First Pacific’s understanding of materiality is consistent with that of our stakeholders.
• Developed an updated double materiality matrix

Supply Chain Management

Supplier Audits: Indofood performed supplier audits in accordance with GMP, Halal, and Indofood food safety and quality standards.

Responsible Procurement

• Supplier Code of Conduct
• Indofood’s Sustainable Agriculture Policy aligned with ISPO criteria

Climate-Related Risks & Opportunities

Physical Risks

• Coastal floods
• Droughts
• Prolonged Rainfall
• Wildfires
• Shortage of key raw materials
• Extreme temperatures
• Water stress
• Higher incidence of forest fires and drought
• Flooding (PLP)

Transition Risks

• Changes in environmental regulation
• Emission caps
• Carbon tax
• Increase in energy costs
• Price changes of raw materials
• Changes in client/customer behavior
• Equipment becoming outdated
• Challenges relating to ability to attract/ retain investors, talent attraction/ retention, access to capital, and license to operate

Opportunities

• Development of energy-efficient products
• Transition towards the use of cleaner energy, and towards decarbonization (Indofood)
• Expanding Sustainable Energy Solutions (PLP)
• Development of low emission products (PLP)
• Selling carbon credits (PLP)

Reporting Standards

Frameworks Used: Appendix C2 – Environmental, Social and Governance Reporting Guide of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited, GRI Universal Standards 2021, UNGC Ten Principles, TCFD Recommendations

Certifications: ISO 14001, ISO 50001, ISO 45001, ISO 17025, FSSC 22000, BizSafeSTAR

Third-party Assurance: Carbon Care Asia, SGS

UN Sustainable Development Goals

• Goal 2: Zero Hunger
• Goal 7: Affordable and Clean Energy
• Goal 13: Climate Action

Details throughout the report.

Sustainable Products & Innovation

• Indofood's healthier choice products
• PLDT's solar energy for cell sites

Awards & Recognition

• Numerous awards listed in the report for Head Office and Investee Companies

Environmental Metrics

ESG Focus Areas

• Greenhouse gas emissions
• Board diversity
• Sustainability KPIs

Environmental Achievements

• First Pacific Head Office Scope 2 greenhouse gas emissions reached zero in 2023 owing to the purchase of carbon offsets.

Social Achievements

• Not disclosed

Governance Achievements

• Sustainability KPIs have been included in the calculation of annual bonuses from fiscal 2022, amounting up to 15% of total payout
• Five Independent Non-Executive Directors make up 50% of First Pacific’s 10-person Board of Directors

Climate Goals & Targets

Environmental Challenges

• ESG risk scoring has been raised to “major” from ”moderate” in First Pacific’s hierarchy of risks facing the company

Mitigation Strategies

• First Pacific and major group companies have published ESG and sustainability reports for fiscal 2023 that reference or conform to TCFD standards ahead of new IFRS S1 and S2 reporting requirements widely expected in 2025 and later

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: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed