• ACEN secures a “B” rating from CDP for its climate change disclosure, two levels up from last year’s score
  • 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 improvement in ACEN’s CDP score is underpinned by its sustainability milestones, including the world’s first ETM deal and the launch of its robust Net Zero roadmap

13 March 2024 – ACEN has elevated its commitment to environmental stewardship by securing a “B” rating for its climate change disclosure through CDP, a global non-profit that runs the world’s leading environmental disclosure platform. This rating puts ACEN two levels higher than last year’s, underscoring ACEN’s dedication to decarbonization and adherence to the highest environmental standards.

Since beginning its disclosures with CDP in 2022, ACEN has actively participated in the Climate Change questionnaire, contributing to the world’s most comprehensive inventory of self-reported environmental data. The company’s ongoing efforts align with the increasing demand for environmental transparency from financial institutions, customers and policymakers.

In 2022, ACEN completed the world’s first Energy Transition Mechanism (ETM) transaction that enabled the full divestment of the 246 MW South Luzon Thermal Energy Corporation (SLTEC) coal plant. Under the ETM framework, the coal plant will be retired by 2040, reducing its operating life of up to 50 years by half and reducing up to 50 million metric tons of carbon emissions.

In 2023, ACEN was also the first energy company in Southeast Asia to launch a robust Net Zero roadmap, which includes near-term emission reduction targets aligned with the GHG protocol and the latest climate-science.

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

Sherry Madera, CDP CEO, said: “With over 23,000 businesses disclosing through CDP this year, 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.

“Disclosure works, and today we should take a short pause to celebrate the dedication to transparency and accountability shown by ACEN reporting through CDP this year. 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,” she added.

Related links: