ENVIRONMENT, SOCIAL & GOVERNANCE
UGEP is a socially responsible company. We place a lot of importance on ESG in our operations. Our ESG framework guides how we can make positive contributions to the UN’s Social Development Goals particularly SDG7 (Affordable and Clean Energy) and SDG5 (Gender Equality).
Our goal of 500 MW of solar energy focuses on affordable and clean energy, SDG7. Investing in different renewable energy sources, solar, wind, and hydro power will help improve energy accessibility for all people as well as reducing carbon emissions.
Renewable energy, by its very nature, reduces carbon emissions.
This is one of the main driving forces behind UGEP.
UGEP approaches construction with plans in place to minimize air and water pollution and deforestation as well as waste management.
We are committed
to inclusivity and respect for all staff.
We are committed to improving the gender bias at every stage of the development process in what is a male dominated industry.
UGEP has signed the Women's Empowerment Principles (WEPS) with UN Women. Women and minority populations at UGEP play an essential role in accelerating the technological revolution.
Both within UGEP and the wider communities we work in we consider people and relationships to be central to our success. Our value leans heavily on the quality of our staff and we offer guidance and incentives in furthering their careers.
We also place much importance on the communities we work in. We contribute to and support local activities and involve as many local people as possible in construction and operations.
Ethics is at the core of our operations.
We have corporate standards on Board composition, audit, transparency to shareholders, executive compensation, conflict of interest and lobbying.
We are committed to ending bribery and corruption to ensure that all benefits accrue to the people of the Philippines.
Our ESG Goal & Activities
Gender inclusion for women. despite a male dominated industry, we are conscious about including women to change the gender bias of the construction/ renewable energy activities.
Net zero targets are now the top priority of countries and companies that have vowed to help limit the rise of global temperatures. To meet this goal, it is critical for the energy sector, the major source of global emissions, to transition to clean energy technologies such as renewables and energy efficiency retrofits.
By 2030, unabated coal and oil & gas power plants should be phased out in advanced economies and 1,020 GW of renewable energy capacities shall be added annually. By 2040, unabated coal and oil & gas power plants should be phased out globally and net zero emissions for electricity generation should be met. By 2050, almost 70% of electricity generation globally should be sourced from solar photovoltaics and wind.
UGEP shares the same vision of a sustainable and carbon-neutral future which is why we are committing to develop 500MW utility-scale and 100MW commercial-scale renewable energy by 2030. 1,188 tons of CO2 emissions are avoided annually for every megawatt of generated energy from renewable sources. Once we reach our goal, we will be able to avoid 712,800 tons of CO2 emissions annually that would otherwise have been the unfortunate by-product of burning fossil fuels.
Despite setting such an ambitious goal, we are determined to achieve this by strengthening our technical and commercial capabilities, maintaining the strong relationship with our current stakeholders, and expanding our network further.
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Unit 318B, LRI Design Plaza, 210 Nicanor Garcia, Makati, 1209 Metro Manila
+63 (02) 8851 7660