The Manila Electric Company (Meralco) commemorated Earth Day with a significant milestone of planting and nurturing 2 million trees across the Philippines, demonstrating the company’s commitment to environmental sustainability and social responsibility.
The company has also programmed P100 billion until 2030 for its projects that will ensure energy security while addressing the challenges posed by climate change.
In an opinion piece published in a government news portal, Joe Zaldarriaga, Meralco Vice President and Head of Corporate Communications, said that the company’s One for Trees project “has also provided livelihood opportunities for its host communities. Engaging local communities to take part in the program has created tangible benefits for them, helping improve their quality of life through access to a sustainable source of income.”
“Evidently, One for Trees denotes that environmental sustainability and social responsibility can go hand in hand to create a lasting benefit for the people and the planet. Its recent achievement highlights how important it is for members of the private sector to take a leadership role in helping mitigate climate change through promotion of sustainable development,” he said.
One for Trees is One Meralco’s environmental advocacy program led by the company’s social development arm, One Meralco Foundation. The program aims to contribute to the preservation and protection of Philippine forests through reforestation and agroforestry across the country.
Since its start in 2019, the program reached the provinces of Bohol, Bukidnon, Aklan, Agusan del Norte, Pampanga, Bulacan, Laguna, Panay and Cebu.
And on Earth Day itself, the Pangilinan-led Meralco celebrated by planting 600 new trees at the Laguna-Quezon Land Grant (LQLG) in Siniloan, Laguna. This was done in collaboration with non-profit organization Fostering Education & Environment for Development Inc.
P100-BILLION INVESTMENT
Meralco has committed to invest over P100 billion in capital expenditures (capex) to also support the attainment of a sustainable future.
“With sustainability deeply embedded in Meralco’s operations and long-term plans, we are proud to commit over P100 billion in capital expenditures to initiatives that not only enhance our infrastructure but also align with the government’s vision for a sustainable future,” Meralco executive vice president and chief operating officer Ronnie Aperocho said in a statement over the weekend.
Meralco Chairman and Chief Executive Officer Manuel Pangilinan added that the company is eyeing nuclear energy and battery energy systems that will help accelerate the country’s energy transition goals and to become coal-free by 2050, among many other solutions.
“As we pursue our decarbonization strategies, we envision a thriving society with access to education, clean water, quality healthcare, dignified livelihoods, and disaster preparedness — all in alignment with the United Nations’ Sustainable Development Goals,” Pangilinan said.
The P100 billion capex will be allocated to projects involving enhancing grid reliability, reducing system loss, transitioning to natural ester oil for distribution transformers, implementing energy efficiency solutions, and expanding electric vehicle (EV) fleets and infrastructure, which are part of the Meralco’s long-term sustainability strategy (LTSS).
Through the LTSS, Meralco is eyeing to cut total carbon emissions by 20 percent by 2030.
Its renewable energy (RE) unit MGen Renewable Energy Inc. (MGreen) also aims to accelerate RE projects, particularly solar and wind sources.
“Core to our long-term sustainability strategy are twin commitments to secure 1,500 megawatts (MW) of renewable energy supply contracts and to develop 1,500 MW of attributable green energy generation capacity. This underscores our dedication to our low-carbon transition and to serving the country’s growing energy demand with clean power,” Meralco first vice president and chief sustainability officer Raymond Ravelo added.
Meralco’s solar power business unit MSpectrum Inc. is also targeting to hasten the adoption of solar energy technologies in businesses and homes while rolling out social development and amelioration programs through One Meralco Foundation’s electrification initiatives for underserved households, rural health centers, water access projects, and livelihood programs.