We propel the regulatory,
financial and technological
advancements required to
accelerate clean energy
adoption.
At ACEN, we aim to be a governance leader in the power industry. We integrate environmental and social considerations into our investment decisions and ensure robust systems are in place to implement our ESG policy effectively.
We are committed to continuously evolving our governance practices to lead with integrity across all our operations.
In our organization
Board-level Sustainability Committee
Executive-level ESG Committee
Executive-level Risk and Health & Safety Committee
Corporate-Level Sustainability Team
Diversity in leadership
We are committed to having our board comprised of qualified and dedicated directors with a diverse mix of expertise, experience, skills and backgrounds. Diversity includes business experience, age, gender and ethnicity. Nominees shall be selected based on merit. With respect to gender, the Board shall commit to ensure appropriate representation of women in the board to the greatest extent possible.
Our board has a diverse group of highly qualified and experienced leaders in their respective fields. Among our 11 Board members, 27 percent are women, while 36 percent are independent directors. As of December 31, 2024, 91 percent of the board is composed of non-executive and/or independent directors.
For the second consecutive year, ACEN has been honored with 4 Golden Arrows by the Institute of Corporate Directors (ICD) at the 2024 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards.
Independent directors do not have any interest or relationship with the company that may hinder their independence, or which could reasonably be perceived to interfere with the exercise of their independent judgment while carrying out their responsibilities as directors of non-executive and/or independent directors. Independent directors do not have any interest or relationship with the company that may hinder their independence, or which could reasonably be perceived to interfere with the exercise of their independent judgment while carrying out their responsibilities as directors.
In our policies
We hold sound governance and ethical conduct across all facets of our business, ensuring that our interactions with stakeholders, counterparties and communities are guided by a profound respect for human rights.
As part of our dedication to integrating sustainability into our operations, we continue to be guided by policies that strengthen governance on crucial ESG themes such as:
We uphold excellence in corporate governance by ensuring our employees follow the highest standards through our policies and Code of Conduct
To ensure that our principles of good governance and business ethics are cascaded across the organization, we launched governance programs that are embedded in the learning and development of each employee. All new employees are required to undergo training on the different aspects of the Code of Conduct and Ethics which were followed by online assessments. Annually, employees are required to declare that they have complied with the Code of Conduct and Ethics.
Our Code of Conduct and Ethics provides guidelines to the following topics:
The announcement of our Net Zero by 2050 ambition in 2021 and the launch of our Net Zero roadmap in 2023 — the first energy company in Southeast Asia to take such a critical step — demonstrates our commitment to climate action. Our roadmap includes near-term emission reduction targets by 2030 aligned with the GHG Protocol and the latest climate-science and long-term targets by
2040 that are consistent with the deep decarbonization of the power sector.
Since then, we conducted the following activities to ensure that efforts to implement our targets and address remaining gaps on emissions reduction:
Environment and Social Management System
As we continue to expand our business, we diligently identify opportunities to address environmental and social (E&S) challenges.
Our Environmental and Social Management System (ESMS) serves as a robust framework for managing E&S risks and impacts across the entire project lifecycle.
Our Environment and Social Management System Process
PHASE 1:
ASSESS E&S RISKS
Step 1. General E&S Risk Identification
Step 2. Risk Prioritization
Step 3. Stakeholder
Engagement and Mapping
Step 4. Emergency Scenarios Assessment
PHASE 2:
MANAGE E&S RISKS
Step 5. Formulate E&S Action Plan for Priority Risks
Step 6. Formulate Stakeholder Engagement Plan
Step 7. Develop Stakeholder Communication Platform
Step 8. Formulate Emergency Preparedness Plans (as necessary)
PHASE 3:
APPROVAL OF E&S ACTION PLANS
Step 9. Secure approval of E&S Action Plans
Step 10. Issue Notice to Proceed
PHASE 4:
IMPLEMENTATION
MONITORING & REPORTING
Step 11. Ensure compliance with national regulatory requirements and internal monitoring of E&S Action Plan implementation
Step 12. Conduct a semi-annual review on the progress and compliance of all E&S Action Plans and Stakeholder Engagement Plans
Supply chain
Our dedication to fostering responsible and ethical business practices covers not only our operations but also our entire value chain. We seek to partner with suppliers that share our commitment to conducting business with integrity and the highest ethical standards. By building and maintaining strategic partnerships that are anchored on sustainability, we create a ripple effect that drives positive environmental and social impact for our stakeholders.
In 2023, the Board approved our Supplier Code of Conduct which reflects our commitment to uphold and protect human rights, adhere to labor, environmental, health, and safety standards, and observe ethical business practices at all times. The code applies to all of ACEN’s bidders, vendors, consultants, contractors, and their employees, representatives, subcontractors and agents that supply or offer to supply goods and services to ACEN.
Our sustainability and procurement teams consistently collaborate to operationalize sustainability in our supply chain.
Suppliers are required to comply with all applicable laws and regulations in the Philippines and in the jurisdictions where they operate. In addition to our Supplier Code of Conduct, our Procurement Policy was approved and adopted by the Board in 2024 to guide our procurement activities. The policy establishes key principles and best to uphold high standards throughout the procurement process while ensuring compliance with business integrity, ethical conduct and our ESG policy.
ACEN Australia has also signed a modern slavery pledge developed by the Clean Energy Council to strengthen efforts in managing the risks of modern slavery in the supply chain. The pledge aims to show a commitment to action and to drive change in the energy industry.
Integrating ESG into the supply chain through givvable
To promote the alignment of our ESG goals with our suppliers, in 2024, we began a
pilot engagement with givvable, an Artificial Intelligence (AI)-powered platform that gathers third-party verified ESG data on suppliers.
The platform allows us to track the credentials of suppliers on sustainability, collecting environmental, ethical sourcing, social impact, governance, community engagement, diversity, equity and inclusion practices, and their mapping to the United Nations Sustainable Development Goals (UN SDGs) and corporate objectives.
Through the engagement, we analyze ESG data of select 100 suppliers with the objective of aligning them with our overall sustainability framework, standards and targets, including our Net Zero goals. Givvable also provides free sustainability modules and a dedicated training session that suppliers can leverage on to enhance awareness and drive action on sustainability.
Insights from the pilot engagement will be used in setting ACEN’s comprehensive strategy and roadmap to embed ESG into our supply chain. Additionally, we aim to expand ESG screening by evaluating all critical suppliers. on potential ESG risks to identify key gaps and drive improvements.
