The University of Asia and the Pacific through its Center for Social Responsibility launches a pioneering bulletin that aims to promote sustainability reporting in the Philippines. The maiden issue features geothermal giant Energy Development Corporation, which has been producing its integrated sustainability report using the Global Reporting Initiative Framework for Electric Utilities Sector. At B+, EDC has recently reported on 82 out of the 104 key performance indicators (KPIs).
In the Philippines, sustainability reporting is a nascent activity. Manila Water Corporation, an Ayala-led utility company, was the first business to do a sustainability report in the late 90s. Soon after, its parent company and subsidiaries followed suit. Recently, however, there was a decline in enthusiasm as Manila Water remained using a self-declared GRI-based report. The slack was picked up by companies in the energy sector. Today, the most active reporters are Petron Corporation (San Miguel-owned), Team Energy and Energy Development Corporation (Lopez-owned). All three companies seem to be advancing the practice of corporate reporting by including assurance in its report aside from using the GRI 3.1 framework. Team Energy and Energy Development Corporation are using the Electric Utilities Sector Supplement which has more set of parameters specific to power generating companies. Aboitiz Power joined the fold publishing its maiden report at B-level, self-declared.
With the launching of UA&P-CSR’s Sustainability Bulletin, it is expected that the practice of sustainability reporting will be promoted.
To download a copy, click on the link below: