The information in this microsite contains information from our most recent Annual Integrated Report.

Reporting Standards

GRI Standards

Aboitiz Equity Ventures Inc. has reported in accordance with GRI Standard for the period from January 1, 2022 to December 31 2022. We provide a summary of how we developed this report, determining material topics and reporting disclosures using GRI Material Topics 2021 and GRI Topic Standards for each material topic , as well as our GRI Content index to help readers locate specific information about our policies, programs, and performance.

Taskforce on Climate Related Financial Disclosure

Aboitiz Equity Ventures (AEV) is the first Philippine signatory to the Task Force on Climate- related Financial Disclosure (TCFD). We are committed to aligning our disclosures to its framework that will provide the company with better information and preparedness towards the impacts of climate-related business scenarios.

UNGC Communication on Progress

Our Communication on Progress sets out key information, including the following requirements:

  1. Our CEO Message includes statements expressing our continued support for the UN Global Compact and renewing the AEV’s ongoing commitment to the initiative.
  2. AEV’s description of practical actions that the company has taken, or plans to take to implement the Ten Principles in each of the four areas: human rights, labor, environment, and anti- corruption.
  3. Outcomes that are measured based on the aligned key performance indicators with the United Nations Sustainable Development Goals (SDGs) and the 10 business principles of the United Nations Global Compact.

The company is also one of the participants to the enhanced CoP Early Adopter Program, wherein we provide information on our progress through the new CoP Digital Platform.

 

Reporting Principles

To define the content of this sustainability report, we follow these reporting principles:

  • Balance: provided a balanced representation of our economic, governance, social, and environmental performance.
  • Clarity: presented our information in a clear and concise manner to ensure that our stakeholders can easily understand our performance.
  • Comparability: provided a basis for comparison with our previous performance and with other organizations to enhance transparency and accountability.
  • Sustainability Context: identified the broader sustainability context of our business and provided information on how our performance aligns with our sustainability goals.
  • Timeliness: reported on our performance within a reasonable timeframe to ensure that the information provided is relevant and up-to-date.
  • Verifiability: ensured that our reported information is accurate and can be verified through a transparent and independent auditing process.

 

Reporting Scope

The reporting scope of our Annual Integarted Report considers the level of operational control and influence that the holding company has on its business subsidiaries. The scope is different from the consolidation and scoping of our Annual Audited Financial Statements for reference please see our 2022 20-IS Report.

We worked closely with our Environmental, Social, and Governance Technical Working Group and their respective sustainability stewards in business units across the region where we operate, using a standardized data collection and monitoring process. The business units covered in this report are:

POWER

  • Aboitiz Power Corporation
  • AP Renewables, Inc.
  • Balamban EnerZone Corporation
  • Cebu Private Power Corporation
  • Cotabato Light and Power Company
  • Davao Light and Power Company, Inc.
  • East Asia Utilities Corporation
  • Hedcor, Inc.
  • Hedcor Sibulan, Inc.
  • Hedcor Tudaya, Inc.
  • Hedcor Sabangan, Inc.
  • Hedcor Bukidnon, Inc.
  • LiMA EnerZone Corporation
  • Luzon Hydro Corporation
  • Mactan EnerZone Corporation
  • Malvar EnerZone Corporation
  • San Carlos Sun Power, Inc. INFRASTRUCTURE
  • SN Aboitiz Power – Magat, Inc.
  • SN Aboitiz Power – Benguet, Inc.
  • Subic EnerZone Corporation
  • Therma Marine, Inc.
  • Therma Mobile, Inc.
  • Therma Power-Visayas, Inc.
  • Therma South, Inc.
  • Therma Visayas, Inc.
  • Visayan Electric Company Inc.

BANKING AND FINANCIAL SERVICES

  • Union Bank of the Philippines
  • City Savings Bank, Inc.
  • PETNET, Inc.
  • UnionBank Digital Inc.
  • UBX Philippines Corporation

FOOD

  • Pilmico Foods Corporation
  • Pilmico Animal Nutrition Corporation
  • Gold Coin Management Holdings Ltd.

INFRASTRUCTURE

  • Aboitiz InfraCapital, Inc.
  • Apo Agua Infrastructura, Inc.
  • Lima Water Corporation
  • Lima Land Inc.
  • Republic Cement and Building Materials, Inc.*

LAND

  • AboitizLand, Inc.

CORPORATE SOCIAL RESPONSIBILITY

  • Aboitiz Foundation, Inc.

*The business unit is not included in the presentation of quantitative sustainability data. **Legal and Financial Reports are included in the parent company AboitizLand. However, since operational management is done by Aboitiz InfraCapital, Operations Data such as Environment and Social Data is included under Aboitiz Infracapital.

Materiality Process

materiality process

Note on forward-looking statements

The OneAboitiz Sustainability Microsite may feature “forward-looking” statements describing AEV’s objectives, achievements and outlooks, projections, and expectations. Actual results may differ from the statements expressed or suggested in the report.

Important factors that could impact the company’s operations include, among others, economic conditions affecting demand or supply dynamics, price conditions in markets where the company operates, changes in government regulations, tax laws, and other statutes and incidental factors.