ACEN clinches higher "B" rating from CDP for disclosure of climate change impacts

Ayala-led ACEN Corporation has clinched ‘B’ rating from CDP, a non-profit global entity which is authoritatively handling the disclosure platform for climate change impacts of investors, corporates and even government instrumentalities like cities and states.

According to the company, its new rating has been two notches higher from what it was able to secure last year, hence, it considers that as a manifestation of its deep commitment to decarbonization – not just through the supply chain of its businesses but on its stance as an environment-friendly corporate neighbor to its host communities and other stakeholders.

“This signifies the company’s strong environmental accountability to its stakeholders, helping it assess, identify and manage environmental risks amid a growing renewables portfolio,” the Ayala energy firm specified.

Jonathan Back, ACEN Group CFO & Chief Strategy Officer said “our commitment to environmental transparency through CDP is a pivotal element of our sustainability strategy,” adding that the CDP reporting decision, “not only reaffirms our accountability to stakeholders but also enhances our capability to manage environmental risks as we expand our renewable energy portfolio globally.”

ACEN qualified that the climb in its CDP score had been mainly attributed to the energy transition mechanism (ETM) it had pursued for its 246-megawatt South Luzon Thermal Energy Corp (SLTEC) coal-fired plant which had already been committed for earlier-than-life cycle decommissioning; as well as on the company’s institutionalization of its net zero roadmap.

“ACEN has elevated its commitment to environmental stewardship by securing a ‘B’ rating for its climate change disclosure through CDP…this rating puts ACEN two levels higher than last year,” the company reiterated.

As emphasized by CDP Chief Executive Officer Sherry Madera,  there are more than 23,000 businesses which had done climate change impact disclosures through CDP this year, and what was apparent has been the accelerating enthusiasm of the companies to be part of such process.

“It is clear that sustainability – and the data that underpins it - is not a ‘nice to have’, but an essential part of long-term success in the business community that is showing no sign of slowing down – nor should it,” she stressed, while primarily citing “the dedication to transparency and accountability shown by ACEN reporting through CDP this year.”

She expounded that “a 1.5 degree future is still possible if the global community works in lockstep to get there. By sharing their environmental data with CDP, ACEN is starting/continuing an environmental journey that will contribute to keeping that future in sight.”

The Ayala company primarily narrated that since it started with its disclosure system with the CDP in 2022, ACEN was able to contribute to the comprehensive inventory of self-reported environmental data through the responses it provided to the Climate Change questionnaire of the organization.

“The company’s ongoing efforts align with the increasing demand for environmental transparency from financial institutions, customers and policymakers,” the Ayala firm noted.

On the committed early retirement of its SLTEC coal plant, the decommissioning is anticipated to happen by 2040 – and the ETM funding cornered by the company will have to be funneled to its programmed renewable energy investments.