ACEN gets rating report upgrade

Ayala-backed ACEN Corp. has secured a “B” rating for its climate change disclosure through CDP, a globally recognized environmental disclosure platform.

ACEN said on Thursday that the rating was two levels higher than last year’s assessment, which reflected the company’s commitment to decarbonization by adhering to environmental standards.

“Our commitment to environmental transparency through CDP is a pivotal element of our sustainability strategy,” ACEN Group CFO and chief strategy officer Jonathan Back said.

“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,” he added.

Since engaging 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.

Ecology transparency

The company’s efforts align with the growing demand for environmental transparency from financial institutions, customers, and policymakers.

For CDP CEO Sherry Madera, championing sustainability is important for companies to achieve long-term success in the business community.

“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. By sharing their environmental data with CDP, ACEN is starting or continuing an environmental journey that will contribute to keeping that future in sight,” she added.

In 2022, ACEN completed the world’s first Energy Transition Mechanism transaction, enabling the full divestment of the 246 MW South Luzon Thermal Energy Corporation coal plant.

Under the framework, the coal plant will be retired by 2040, reducing its operating life by half and mitigating up to 50 million metric tons of carbon emissions.