Climate Change Data

Environmental Metrics

ESG Focus Areas

• Green designs
• Affordable housing
• Community resiliency

Environmental Achievements

• Installed 5,303 photovoltaic solar panels on the rooftops of Festival Mall, supplying about 28 percent of the mall’s peak demand and saving close to 41,000 tons of CO2 annually.
• More than 48 million liters of effluent reused (26% increase from 2021).
• Mimosa Plus Golf Course switched to Zoysia grass, reducing water and fertilizer usage and saving up to 1,000 cubic liters of water.

Social Achievements

• Overall Customer Happiness score of 76 (8.6% improvement over 2021).
• 1,900 affordable housing units completed and delivered.
• Launched seven new socialized housing projects with an intended 3,617 housing units.
• FilVax program helped procure 100,000 vaccine doses, prioritizing Filinvest employees and donating bulk to communities.

Governance Achievements

• Recognized at the Golden Arrow Awards as one of the top-performing publicly listed companies in the Philippines based on the ASEAN Corporate Governance Scorecard (ACGS) 2021 results.
• Recognized by Corporate Governance Asia as one of Asia’s Best in Investor Relations, as well as Best CEO, Best CFO, and Best Investor Relations Professional.

Climate Goals & Targets

Environmental Challenges

• Global uncertainty, high commodity prices, rising inflation and interest rates.
• Hybrid work arrangements reducing demand for office space.
• Lingering impact of the COVID-19 pandemic affecting non-REIT rental assets.

Mitigation Strategies

• Plans in place to ensure business resilience.
• Signed new leases for office buildings totaling 19,670 square meters.
• Renewed 28,370 square meters (90%) of expiring leases in 2022.
• Prudent capital spending, prioritizing projects that minimize the cash conversion period.
• Raised P11.9 billion through retail bonds.

Supply Chain Management

Supplier Audits: 98.11% of procurement budget spent on local suppliers in 2022.

Responsible Procurement

• Established Supplier Accreditation Program

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards, SEC Memorandum Circular No. 4, Series of 2019

Certifications: LEED, EDGE, WELL

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 11: Sustainable Cities and Communities

Focus on building sustainable homes and communities that add value to the quality of life of future generations.

Sustainable Products & Innovation

• The Crib (co-living spaces)
• Ready-Built Factories (RBFs)

Awards & Recognition

• Golden Arrow Awards
• Asia’s Best in Investor Relations (Corporate Governance Asia)
• Best CEO, Best CFO, Best Investor Relations Professional (Corporate Governance Asia)

Environmental Metrics

ESG Focus Areas

• Green Designs for Sustainable Communities
• Circular Economy
• Net Zero
• Serving the Unserved and Underserved
• Nurturing Talent
• Engaging Communities
• Resiliency of Assets and Operations
• Agility

Environmental Achievements

• Secured EDGE Level One certifications for six pre-existing office buildings and EDGE Level Two (Advanced) certification for Filinvest One.
• Increased RE consumption by 30% compared to 2022 in office leasing business; eight buildings enjoyed 100% renewables supply in 2023.
• Festival Mall continues to use power generated from its 2.8 megawatt rooftop solar installation.

Social Achievements

• Completed 1,716 socialized and affordable housing units and launched 11 projects covering 1,278 units.
• Increased average training hours for employees by almost 20%.
• Achieved 35,501,606 safe man-hours among employees and contractors’ workforce with no fatalities.

Governance Achievements

• Honoree at the Golden Arrow Awards based on ASEAN Corporate Governance Scorecard (ACGS) 2022 results.
• Reviewed and updated Filinvest-wide Code of Business Conduct and Ethics.
• No incidents of fraud or misconduct reported.

Climate Goals & Targets

Environmental Challenges

• Competition in the real estate market.
• Global office sector downturn due to flexible work arrangements.
• Project delivery risks (time, budget, quality).
• Compliance risks due to shifts in government policies and regulations.
• Talent risks (capacity, capability, connection).
• ESG risks (inefficient operations, workforce disengagement, brand reputation).
• Related party transactions.
• Increase in interest rates and inflation.

Mitigation Strategies

• Customer service excellence, competitive pricing, relevant products.
• Foray into non-traditional office asset utilization.
• Improved financial and procurement information systems, business segment reorganization, process improvement.
• Full compliance with regulations, monitoring of new laws, industry chamber involvement.
• Succession planning, competitive benefits, employee engagement programs.
• Minimum compliance with regulations, sustainability best practices, stakeholder engagement, renewable energy sourcing, green building certifications.
• Corporate governance provisions, arms-length principle, compliance with BIR guidelines.
• Optimization of operating costs, compliance with debt covenants.

Supply Chain Management

Supplier Audits: 99.16% of procurement budget spent on local suppliers

Responsible Procurement

• Vendor accreditation program linked to business code of conduct.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, SEC MC 2019-004

Certifications: LEED, WELL, EDGE, BERDE

Sustainable Products & Innovation

• Green buildings (LEED, WELL, EDGE, BERDE certified)

Awards & Recognition

• Golden Arrow Awards
• Circle of Excellence Awardee for Executive Leadership Team of the Year (Asia CEO Awards)
• Silver award at The Stevie International Business Awards for Executive of the Year in Real Estate
• Gawad Parangal para sa Pagpapaunlad (DHSUD Region 4A)