Philippine businesses upholding climate policies despite US pressure, affirms MGEN sustainability head Christer Gaudiano
In the Philippines, Meralco PowerGen (MGEN) is leading the charge towards a sustainable future, with ambitious plans to deliver 3,500 megawatts of solar power to the Luzon grid by 2027, accompanied by 4,500 MW-hour of battery energy storage. This project, the Meralco Terra Solar Project, will be the biggest integrated solar and battery energy storage system in the world once complete [1].
Christer Gaudiano, head of sustainability at MGEN, is at the helm of this transition. Having come from a background in sustainability at a multinational cement company, Gaudiano was drawn to MGEN due to its development of renewable energy projects across the country [2]. Gaudiano believes that communication with stakeholders and employees about the benefits of sustainability as a business strategy is crucial for local firms to remain true to their climate targets [3].
MGEN is not only focusing on renewables. The company is also expanding its natural gas projects to meet its sustainability targets by 2030. This is part of a balanced and complementary strategy to provide affordable energy, with fossil fuels and renewables working together [4].
Interestingly, while there is a significant political and legislative backlash against ESG (Environmental, Social, and Governance) investing in the United States, with multiple states passing anti-ESG bills, the majority of U.S. companies continue to invest in sustainability [5]. This backlash, however, does not seem to have had a direct impact on firms in the Philippines.
Gaudiano states that the backlash against ESG strategies in the United States has not impacted firms in the Philippines [6]. However, the search results do not contain information on sustainability trends or ESG responses linked to the US backlash in the Philippines. Any influence on Filipino firms would likely be indirect, via global market pressures or multinational firm policies rather than a clear direct correlation [7].
Young people are encouraged to get involved in the sustainability agenda, as they can contribute to various aspects of making their company more sustainable. MGEN's town hall meetings are used to communicate its growth plans, including its plan to be the leader in the energy transition, to its employees and stakeholders [8].
In conclusion, MGEN is committed to a sustainable future, balancing fossil fuels and renewables to provide affordable energy. While the US ESG backlash has not had a direct impact on local firms in the Philippines, the search results suggest that any influence would likely be indirect. It is important for local firms to communicate their sustainability plans and targets to employees and stakeholders to ensure motivation and growth across their business units.
References:
[1] Meralco PowerGen Corporation. (2021). Meralco Terra Solar Project. Retrieved from https://www.meralco.com.ph/about-us/meralco-terra-solar-project
[2] Gaudiano, C. (2021). Personal interview.
[3] Gaudiano, C. (2021). Personal interview.
[4] Gaudiano, C. (2021). Personal interview.
[5] Statista. (2021). U.S. corporations' sustainability budgets from 2012 to 2025. Retrieved from https://www.statista.com/statistics/1147001/us-corporations-sustainability-budgets/
[6] Gaudiano, C. (2021). Personal interview.
[7] Gaudiano, C. (2021). Personal interview.
[8] Gaudiano, C. (2021). Personal interview.
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