enabling sustainability - Aboitiz Power

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Corporate Governance The Aboitiz Group managed to achieve tremendous growth amid challenges in 2010 by adhering to a set of core values that include integrity, fairness, prudence, trust and social responsibility. These values comprise the Group’s corporate governance policy. The Aboitiz Group’s corporate governance policy provides for a comprehensive information security management, strong regard for shareholders’ benefits and the institutionalization of the sustainability principle—which aims to strike a balance among economic growth, social development and environmental stewardship. Compliance with the corporate governance policy starts with the Board of Directors. BOARD OF DIRECTORS The direction of the Group is set by the Board of Directors, which ensures compliance with high standards and relevant laws and codes of business practices, as well as the adoption of best practices. The Board adheres to the Amended Manual on Corporate Governance of the Group, which defines its responsibilities and corporate governance policies. The manual is based on the Group’s mission and vision, which is to provide Filipinos the basic goods and services necessary to meet the demands of a growing economy. The Board’s primary objectives are: to improve shareholder returns; develop responsible, long-term investors; and achieve disciplined and sustainable growth. The Board of Directors is composed of nine members, three of whom are independent. Each member of the Board is schooled in the principles of good corporate governance. The current Chairman of the Board is a non-executive director. DISCLOSURE AND TRANSPARENCY As part of the practice of good corporate governance, the Group maintains transparency through the publication and distribution of the Annual Report, which is also accessible through its website. Disclosure and transparency are also signified through company information statement, and disclosures to the Philippine Stock Exchange and the Securities and Exchange Commission. CODE OF ETHICS Compliance with good corporate governance is institutionalized within the Group upon the establishment of the Code of Ethics and Amended Manual on Corporate Governance. This Code is observed Group-wide, starting with the Board of Directors. Committees within the Board of Directors monitor and ensure compliance with these principles. The Board Corporate Governance Committee represents the Board in discharging its responsibility in relation to the Group’s governance principles and guidelines, nomination of persons to the Board, and Group senior leadership roles and compensation matters. The Board Strategy Committee represents the Board in discharging responsibilities related to the Group’s business strategy and direction. The Board Risk Management Committee represents the Board in matters related to risk management. The Board Audit Committee represents the Board in its oversight responsibility over all audit-related matters of the Company’s group companies. It oversees the optimization of effective financial management, as well as compliance with regulatory reporting requirements for all Business Units. All the business dealings of the Group are also anchored on the Fair Dealing Policy, as stipulated in the Code of Ethics and Business Conduct. The basis of the Fair Dealing Policy serves as the foundation of the Group’s objective to outperform competition in a fair and honest manner, through superior performance. Details regarding the Group’s corporate governance can be found in the Annual Report, which can be accessed through www.aboitiz.com. 12 ENABLING SUSTAINABILITY
Our Stakeholders STAKEHOLDERS WHAT WE COMMIT HOW WE ENGAGE STAKEHOLDERS / INVESTORS Enchance shareholder value Investor relations Analysts’ briefings Investor conferences One-on-one meetings and open line communication with analysts Stockholders’ meeting and annual report COMMUNITIES Be the neighbor of choice where the business operate Aboitiz Foundation program for education and skills development, enterprise development, and primary health and child care Company-specific community development programs EMPLOYEES Develop talents and recognize employees and business partners Financial and non-financial rewards Life-long learning through the Universal Training Program Talent Management Program ENVIRONMENT Address climate change issues through mitigation and adaptation measures Compliance with regulations and legistration Efficiency in operating processes Greenhouse gas inventory Ecology enhancement programs ABOITIZ SUSTAINABILITY REPORT 2010 13
Page 1 and 2: Enabling Sustainability enabling su
Page 3 and 4: GRI G3 Level C Disclosures 1.1. STR
Page 5 and 6: On the supply side, AboitizPower ge
Page 7 and 8: Aboitiz Group 2010 AboitizPower COA
Page 9 and 10: Business at a Glance Our businesses
Page 11: RECHARGE COMMUNITIES RENEWABLE ENER
Page 15 and 16: Simultaneous tree planting To prote
Page 17 and 18: Race to Reduce run Sustainability i
Page 19 and 20: Waste is unavoidable. However, wast
Page 21 and 22: A thousand hours for the planet For
Page 23 and 24: ABOITIZ SUSTAINABILITY REPORT 2010
Page 25 and 26: Corporate Social Responsibility The
Page 27 and 28: About the artist ALMUN REY LOGRONIO

enabling sustainability - Aboitiz Power

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