2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures 2007 ANNUAL REPORT Power Corporation - Aboitiz Equity Ventures
CORPORATE SOCIAL RESPONSIBILITY Empowering communities The strong commitment to corporate social responsibility and the deep sense of sharing and belongingness in a community propel Aboitiz Power companies to support and assist their host communities. The strong commitment to corporate social responsibility and the deep sense of sharing and belongingness in a community propel companies of Aboitiz Power Corporation (AP) to support and assist their host communities. AP companies actively implement CSR programs and projects in areas where they operate. The fulfillment of sharing the fruits of their company’s operations and improve the quality of life of residents in their host communities goes far beyond the company’s bottomline figures. As a group, AP companies allocated a total of 86 million for various social development initiatives in 2007. The bulk of the different interventions conducted by the companies are in the area of community development wherein a percentage of company revenues is shared with the host communities for use in various social development projects. Continuing projects that are specific to power companies like rural electrification were also implemented. Further, the allocation of a special fund as mandated by the Department of Energy ER 1-94 has helped communities in alleviating poverty in their respective areas. ER 1-94 is a program in partnership with the generation facilities/private sector wherein the generation facility allocates one centavo for every kilowatt hour of total electricity sales as financial benefits to the communities hosting the power plants. The funds are used to finance community projects proposed by the host communities. The projects should show potential for enhancing progress, provide a decent source of livelihood, and uplift the community’s general economic conditions. AP companies also supported education-related activities such as infrastructure building, computerization programs, values formation training, scholarships and financial assistance programs. They also undertook initiatives in environment and enterprise development. 46 • ABOITIZ POWER CORPORATION ANNUAL REPORT 2007
The fulfillment of sharing the fruits of their company’s operations and improve the quality of life of residents in their host communities goes far beyond the company’s bottomline figures. Aboitiz Power, through the Aboitiz Group Foundation, also supports education-related activities in partnership with the Department of Education. ABOITIZ POWER CORPORATION ANNUAL REPORT 2007 • 47
- Page 1 and 2: Power Corporation Powering New Fron
- Page 3 and 4: P o w e r i n g New Frontiers ABOIT
- Page 5 and 6: FINANCIAL SUMMARY For the Year (In
- Page 7 and 8: R E P O R T T O O U R S T O C K H O
- Page 9 and 10: h Powering New Frontiers With deman
- Page 11 and 12: Results of Operations POWER D I S T
- Page 13 and 14: R E S U L T S O F O P E R A T I O N
- Page 15 and 16: A SFELAPCO crew does live line work
- Page 17 and 18: Results of Operations POWER G E N E
- Page 19 and 20: POWER G E N E R A T I O N Hedcor si
- Page 21 and 22: STEAG State Power Inc. (SPI) contri
- Page 23 and 24: We expect our distribution companie
- Page 25 and 26: The strong and stable financial per
- Page 27 and 28: DIRECTORS SPECIAL AND REGULAR BOARD
- Page 29 and 30: Director and Senior Executive Compe
- Page 31 and 32: The Office of the Chief Compliance
- Page 33 and 34: Employee Relations In AP, people ar
- Page 35 and 36: P o w e r i n g New Frontiers F E A
- Page 37 and 38: The rest of its capacity is traded
- Page 39 and 40: The annual energy requirement will
- Page 41 and 42: Gone are the long queues at VECO’
- Page 43 and 44: The three utilities aim to provide
- Page 45 and 46: CPPC, meanwhile, is situated on a 1
- Page 47: and reliable supply of electricity.
- Page 51 and 52: Board of Directors Jon Ramon M. Abo
- Page 53: Corporate Officers Benjamin A. Cari
The fulfillment of<br />
sharing the fruits<br />
of their company’s<br />
operations and<br />
improve the<br />
quality of life of<br />
residents in their<br />
host communities<br />
goes far beyond<br />
the company’s<br />
bottomline<br />
figures.<br />
<strong>Aboitiz</strong> <strong>Power</strong>, through the <strong>Aboitiz</strong> Group Foundation,<br />
also supports education-related activities in<br />
partnership with the Department of Education.<br />
ABOITIZ POWER CORPORATION <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2007</strong> • 47
Change language