FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
The world today is significantly different from what it was when First Philippine Holdings Corporation (FPH) was founded 55 years ago. While the economy is more globalized than ever, and change and development happen at breakneck speeds, the country also faces a myriad of challenges that it did not have to face before.
True to its tagline, “Powered by Good,” and its vision of uplifting key industries and infrastructure that advance national development, FPH is at the forefront of addressing what is possibly the most urgent issue of the century – climate change.
At the core of the company’s interests in sustainable energy is its stand against coal. Approximately a month before its 55th anniversary, chairman Federico R. Lopez (FRL) declared that FPH and its subsidiaries “will not build, develop or invest in any coal-fired power plant.”
“It is our aim that FPH and its subsidiaries will be among the bright navigating stars of Philippine industry, blazing a path toward a decarbonized economy,” FRL said at FPH’s annual meeting with stockholders last May.
According to a report by Germanwatch which releases the Global Climate Risk Index yearly, climate change is an especially pressing concern for the Philippines, which ranks as the number one country experiencing weather-related disasters between 1995-2014.
“If any country in the world has a stake in seeing global carbon emissions reduced, it’s the Philippines, where millions more innocent lives will be destroyed or lost if the march towards a warmer world cannot be stopped,” said the chairman.
As the holding company of Philippine businesses that have become institutions in the country’s energy sector, FPH is now focused on leading the way in the development and mainstreaming of low-carbon energy coming from natural gas, hydro, and geothermal sources. The company is also expanding its portfolio to include wind and solar energy.
For the people at FPH, extraordinary times call for extraordinary change – especially in terms of mindsets among industry and business leaders. With the technology already available, and the pioneering, entrepreneurial spirit that has long been associated with FPH and the Lopez Group, the company looks forward to powering the nation’s growth while leading the switch to a new energy paradigm.
“It is something we have done in the past and something we will, with certainty, do again,” said FRL. “Times may be tough but we are a business group that shines when faced with that combination of adversity and purpose. We have the opportunity to address one of the most pressing needs of our times.”