ACEN Upgraded To 'B' Rating By CDP, Reinforces Environmental Transparency Commitment

ACEN, the energy arm of the Ayala Group, has recently been awarded a "B" rating by CDP for its climate change disclosure, showcasing a notable improvement from its previous score. This rating highlights ACEN's dedication to environmental stewardship and its effective management of environmental risks amidst the expansion of its renewable energy portfolio. The company's enhanced CDP score reflects significant sustainability achievements, including the execution of the world's inaugural Energy Transition Mechanism (ETM) deal and the introduction of an extensive Net Zero roadmap.

CDP, a leading global non-profit, provides the foremost platform for environmental disclosure. ACEN has been an active participant in CDP's Climate Change questionnaire since 2022, contributing to a detailed inventory of self-reported environmental data. This participation underscores the growing demand for environmental transparency among financial institutions, customers, and policy makers.

In a landmark move in 2022, ACEN finalized the ETM transaction leading to the divestment of the South Luzon Thermal Energy Corporation (SLTEC) coal plant. The ETM framework stipulates that this coal plant will cease operations by 2040, thereby shortening its operational lifespan and reducing carbon emissions. Furthermore, in 2023, ACEN became the first energy company in Southeast Asia to unveil a comprehensive Net Zero roadmap, establishing emission reduction targets in line with global standards.

Jonathan Back, ACEN Group CFO & Chief Strategy Officer, stressed the importance of CDP's environmental transparency for the company's sustainability agenda. Sherry Madera, CEO of CDP, praised ACEN for its commitment to transparency and accountability. She emphasized that environmental disclosure plays a crucial role in achieving long-term business success.

ACEN aspires to become the largest listed renewables platform in Southeast Asia, aiming for 20 GW of renewable energy capacity by 2030. The company is on a path to convert its generation portfolio entirely to renewable energy by 2025 and aims to achieve Net Zero greenhouse gas emissions by 2050.

CDP operates an environmental disclosure system utilized by companies, cities, states, and regions worldwide. It collaborates with financial institutions to encourage organizations to disclose their environmental impacts and work towards emissions reduction. In 2023 alone, over 25,000 organizations globally disclosed their data through CDP.

It is crucial to acknowledge that forward-looking statements made in this disclosure are subject to potential risks and opportunities that could influence ACEN's strategic plans. The actual outcomes of transactions described herein may vary from those projected in these forward-looking statements.