Climate Change Data

First Philippine Holdings Corporation

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:12.4 million tCO2e
Waste Generated:14,263.6 tons

ESG Focus Areas

  • Climate change
  • Decarbonization
  • Regeneration
  • Diversity, Equity, and Inclusion (DEI)
  • Human Rights
  • Community Development
  • Governance

Environmental Achievements

  • Maintained 127,608.0 hectares of natural forests protected
  • 1.7 million tCO2 sequestered by watersheds protected and restored
  • 10.7 million tCO2e emissions avoided by using natural gas and RE in power generation
  • 22.7 thousand tCO2e emissions avoided by using electricity from RE sources
  • Reduced waste disposed by 14.3 thousand tonnes

Social Achievements

  • Maintained favorable Customer Satisfaction (CSAT) results, averaging at 92% for the group
  • Maintained our Human Rights Due Diligence (HRDD) process and installed Grievance Redress Mechanisms across our businesses
  • 20 climate and sustainability advocacy engagements attended by 2,559 participants
  • 38 projects, activities, and programs on environment, socio-economic development, education, and health
  • PHP268.1 million environment and community investments

Governance Achievements

  • Maintained ISO certifications for quality management, environment management, occupational health and safety management, and asset management
  • Two-fold increase in cybersecurity investments
  • Integration of mission in key business functions (business development, operations, and product and service offerings)
  • Issued key safeguard policies: Policy Against Forced Labor and Child Labor and Responsible Asset Protection Policy

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
Medium-term Goals:
  • Achieve 13 GW of renewable energy capacity by 2030
  • Complete Aya Pumped-Storage Hydro Power Project by 2027
Short-term Goals:
  • Grow low carbon energy portfolio to 13,000 MW by 2030 (9,000 MW from renewable energy)

Environmental Challenges

  • Climate change impacts (extreme weather, heat waves, typhoons)
  • Supply chain disruptions
  • Depletion of Malampaya natural gas reserves
  • Competition for skilled talent
  • Increasing interest rates
  • Inflation
  • Cybersecurity risks
  • Regulatory landscape challenges
Mitigation Strategies
  • Developed alternative sourcing strategies
  • Completed LNG import terminal
  • Implemented various weather-proofing and resilience initiatives
  • Improved emergency response and business continuity management plans
  • Secured natural catastrophe insurance coverage
  • Implemented talent centricity initiatives
  • Established predictable cash flow
  • Availed loans only for important synergistic investments
  • Implemented IT and OT vulnerability assessment studies and mitigation plans
  • Launched information security, technology risk, and data privacy programs
  • Developed related frameworks and policies to cascade and implement cybersecurity

Supply Chain Management

Responsible Procurement
  • FPH Code for Responsible Sourcing
  • ESG questionnaire for suppliers
  • Supplier Assemblies
  • Sustainability Compliance Form

Climate-Related Risks & Opportunities

Physical Risks
  • Drought
  • Tropical typhoons, floods, landslides
  • High ambient temperature
  • Sea level rise
Transition Risks
  • Carbon pricing
  • Market shifts
  • Technological advancements
Opportunities
  • Renewable energy expansion
  • Energy efficiency improvements
  • Development of sustainable products and services
  • New markets for sustainable solutions

Reporting Standards

Frameworks Used: International Financial Reporting Standards (IFRS) S1 and S2, Philippine Securities and Exchange Commission (SEC) guidelines, Integrated Reporting () Framework, GRI, SASB, TCFD, UN SDGs, UNCTAD-ISAR, UNGP

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 55001:2014

Third-party Assurance: University of Asia and the Pacific - Center for Social Responsibility (UA&P-CSR)

UN Sustainable Development Goals

  • SDG 1
  • SDG 3
  • SDG 4
  • SDG 6
  • SDG 7
  • SDG 8
  • SDG 9
  • SDG 10
  • SDG 13
  • SDG 16
  • SDG 17

Initiatives contribute to these goals through various environmental and social programs

Sustainable Products & Innovation

  • Super Green transformers
  • Smart Meters
  • Surge Arresters
  • Renewable energy solutions

Awards & Recognition

  • 9 awards for business excellence
  • 2 awards for corporate governance
  • 6 awards for sustainability reporting
  • 8 awards for environmental initiatives
  • 4 awards for employee health and safety
  • 1 award for stakeholder engagement/CSR