Creating long-term value for its stakeholders is at the core of Metro Pacific Investments Corp.’s (MPIC) sustainability strategy.
In making investments across the group, particularly in infrastructure and power, MPIC has always put in mind how such investments could add value for customers and communities by improving the quality of infrastructure assets, enhancing the efficiency with which they are run and extending their coverage to more people.
In its sustainability briefer, MPIC said it has put into heavy consideration the impact of climate change to these investments.
“Due to our geographical location, MPIC’s investments are vulnerable to the effects of earthquakes, volcanic eruptions and tropical storms, including strong winds, storm surge and heavy rains giving rise to landslides and extensive flooding. ..
In the face of uncertainty about the nature, scale and time frame of environmental and social impacts that could be associated with climate change, MPIC adopts a precautionary approach to implementing cost-effective measures to manage and mitigate those risks in accordance with our long-term business objectives and willingness of regulators to approve the cost of these initiatives,” MPIC said.
By investing in the highest standards of infrastructure that the country can afford, such as reliable, clean and efficient coal-fired power generation, robust systems for water treatment, world-class expressways and enhanced light rail services, “We expect that our portfolio of high-quality investments will continue to serve our business and our stakeholders productively for many years to come,” MPIC said.
At the same time, MPIC’s operating companies have purchased business interruption and environmental risk insurance to mitigate the risks of destruction to life and property, and are continuously reviewing and enhancing their business continuity processes, disaster recovery programs and crisis management capabilities.
In power, MPIC focuses on developing, operating and maintaining socially and environmentally compatible energy sources and infrastructure.
Power distribution arm Manila Electric Co. (Meralco) in 2018 reported that 39.1% of consolidated distributed electricity was sourced from natural gas plants, 29.9% from coal-fired plants, 0.2% from liquid fuels, including bio-fuels, and 30.9% from multi-fuel i.e. originating from coal, hydro, biomass and geothermal compared with 2017 at 37.5% for natural gas, 34.1% coal, 1.6% liquid fuels and 26.8% multi-fuel.
To ensure compliance with relevant environmental standards and regulations, Meralco also monitors and installs pollution abatement systems to make sure that all emissions and discharges are within the allowable limits imposed by the regulating bodies.
Renewable energy is also a key part of MPIC’s overall sustainable development strategy.
The company explores various opportunities around the country to convert waste into energy.
One of these recent initiatives is one with Dole Philippines—the local subsidiary of the world’s largest producer of fresh fruits, vegetables and cut flowers—to design, construct and operate integrated waste-to-energy facilities for its canneries in South Cotabato. These facilities will generate 5.7 MW of clean energy for Dole and reduce its GHG emissions by 100 ktCO2e per year.
MPIC is also leading a consortium with Covanta Energy and Macquarie Group to develop a 36 MW (net) waste-to-energy facility from up to 3,000 metric tons of municipal waste in Quezon City.