enabling sustainability - Aboitiz Power

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About Aboitiz Sustainability Report Sustainability is a core pursuit for the Aboitiz Group. In 2010, we released our first sustainability report. It documented the various sustainability initiatives of our business operations --- raising awareness about addressing environmental and social concerns, and communicating to our stakeholders our programs and activities towards business sustainability. This second sustainability report encapsulates the various sustainability programs and initiatives undertaken from January 1 to December 31, 2010. Developed to conform to Global Reporting Initiatives (GRI) G3 guidelines, this report is a self-declared C-level document and contains indicators on economic, social and environmental performance. Last year, too, we formalized our five sustainability pillars as guidelines for the business units’ own sustainability programs. This report features the projects and programs in support of each pillar. It does not tackle details of every subsidiary. This report also covers initiatives and performance of the different companies under the Aboitiz group. Aboitiz Equity Ventures, Inc. (AEV) in 2010 including Aboitiz Power Corporation a publicly owned holding company listed with the Philippine Stock Exchange that includes energy generation (hydroelectric, geothermal and thermal power) and distribution utilities. Food includes Pilmico Foods Corporation and Pilmico Animal Nutrition Corporation. Banking UnionBank of the Philippines and City Savings Bank. Aboitiz Transport System Aboitiz Transport System was sold at the end of 2010. However, it is mentioned in this report since it was still part of the group in 2010. Our financial and economic performances are discussed in detail in the 2010 Annual Report while our different corporate social responsibility activities are listed in the annual report of Aboitiz Foundation. Both reports may be accessed at www.aboitiz.com. Through this report we thank our markets, public and stakeholders, and reiterate our commitment to and sincerity in protecting the planet and its resources, our communities and stakeholders. We will also monitor and track our impact on the triple bottom line objectives of sustainability. We would also value your feedback on how to improve future reports. We are reachable at sustainability@aboitiz.com. A thorough discussion of AEV and all its business partners, subsidiaries and affiliates can be found in the annual report and the company website, www.aboitiz.com. 8 ENABLING SUSTAINABILITY
Business at a Glance Our businesses turned in strong operating results. We continue to be guided by our investing discipline and strict adherence to our agreed cost of capital. In 2010, Aboitiz Equity Ventures (AEV) marked substantial growth. AEV’s net income grew by 163% to P 21.9 billion, with the power, banking and food companies as robust contributors. In 2010, AEV recorded a bellweather year in terms of profitability, with three out of four business units registering income contribution growth, AboitizPower bolstered the 2010 bottomline with its 87% contribution, followed by UnionBank and City Savings Bank with 12 %, and Pilmico Corporation with 7 %. AEV President and CEO Erramon I. Aboitiz said, “Our businesses turned in strong operating results. We continue to be guided by our investing discipline and strict adherence to our agreed cost of capital.” For a comprehensive view of the Aboitiz Group’s financial performance, read the AEV Annual Report in www.aboitiz.com ABOITIZ SUSTAINABILITY REPORT 2010 9
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Page 3 and 4: GRI G3 Level C Disclosures 1.1. STR
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Page 11 and 12: RECHARGE COMMUNITIES RENEWABLE ENER
Page 13 and 14: Our Stakeholders STAKEHOLDERS WHAT
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Page 27 and 28: About the artist ALMUN REY LOGRONIO

enabling sustainability - Aboitiz Power

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