SNAP hosts forum on ESG opportunities and best practices for businesses

Responsible Energy provider SN Aboitiz Power Group (SNAP), as part of its commitment to promoting a sustainable future for the country, hosted “The ABCs of ESG” on July 18, in continuation of its ‘SNAP Conversations’ series—a quarterly knowledge-sharing event dedicated to fostering insightful discussions on key topics within the power sector and beyond.

The virtual talk focused on Environmental, Social, and Governance (ESG) principles, updates on global standards, and integrating ESG into corporate strategy. It featured Jonas Dumdum, Consultant for Industry Solutions Consulting (ISC) Sector and Lead of Nomura Research Institute (NRI) Manila Sustainability Service.

Dumdum, who reiterated that “sustainability and ESG is not a one-time thing”, provided updates on ESG-related and sustainability matters, highlighting the ongoing efforts to promote the adoption of new global ESG standards at the local level. He also shared important points on ESG integration into the strategy and risk management of businesses. “Companies in the Philippines have yet to fully embrace this. Leading companies in the country have already integrated ESG-related risks and opportunities through their ERM system or through their risk management [program], Business Continuity Plan, or other related systems.”

He noted that sustainability culture can enhance company values, and eventually lead to more effective sustainability frameworks, enhanced external engagements, higher operational efficiency, and better ESG investor performance, “people’s mindset when it comes to sustainability can influence the rest of a company’s efforts to become more sustainable down the line.”

SNAP Vice President for Corporate Affairs, Atty. Mike Hosillos, recognized the pivotal role that businesses hold in the country’s sustainability journey, with emphasis on the significant contribution of renewable energy. “The essence of our business, to generate power from renewable sources, puts us in a unique position to enable society to balance the need for growth while ensuring that we protect, conserve, and promote the resources and environment that will enable future generations to thrive.”

This, he notes, is where SNAP hopes to add value. “SNAP will continue to work on ensuring that through ESG, our business will have a positive impact by growing our renewable energy portfolio. It is our hope that through our business, we can help and enable all of you to achieve your own sustainability aspirations through clean, responsible, and renewable energy.”