Publicly listed Vivant Corporation marks its 20th anniversary this year with a commitment to further strengthen its initiatives under the environment, social, and governance (ESG) framework to ensure the sustainability of its business endeavors and its communities.
“As we look back at the challenges and achievements that propelled us to continue to improve everyday living for the past 20 years, we put environmental, social and governance (ESG) at the forefront of our strategy to achieve long-term sustainable profits,” Vivant Corporation CEO Arlo A.G. Sarmiento said during the annual stockholders meeting.
He said setting a target of 30% renewable energy for the power generation portfolio by 2030 is aligned with the ESG framework. Taking an integrated approach to address the water shortage problem also aligns our investments in water solutions with the ESG framework, he added.
Emil Andre M. Garcia, president, announced that subsidiary Vivant Energy is looking at investing P21 billion in renewable energy projects, making up more than 75% of total capital expenditures through 2030.
He cited the recent acquisition of San Ildefonso Alternative Energy Corporation, which will develop a 22-megawatt peak (MW) solar power plant in Bulacan.
Another fully owned subsidiary, COREnergy, contributes to the RE target by growing its rooftop solar business to 6 MW in 2022. COREnergy, a retail company that offers total energy solutions to commercial and industrial establishments, aims to add 18MW of solar rooftop generation capacity by the end of the year.
“Vivant Energy is committed to playing a meaningful role in energy transformation and to accelerate growth and improvement of power services in the country,” Garcia said. He said the company is looking at wind and solar technology to contribute to surpassing its RE target.
Vivant Energy’s recent acquisition of the shareholding of Gigawatt Power Inc. in several power generation facilities supports the group’s commitment to contribute to social and economic development in the countryside by providing stable and reliable power primarily in SPUG
or off-grid areas. Vivant Energy now has full ownership of Isla Mactan Power Corporation, which operates the 23.3-MW diesel power plant that provides stable and reliable power in
Bantayan Island, Cebu.
Meanwhile, Vivant Infracore Holdings, Inc. – which manages the Vivant Group’s investments in water solutions – is looking at investing about P16 billion in several greenfield and brownfield opportunities in water resource utilization and wastewater engineering over the next five years. These opportunities will help address not only water supply challenges but the threat posed by untreated wastewater on vital ecosystems in many areas in the country.
“Our teams also contribute to our ESG initiatives. Recently, 70 employee volunteers planted 2,000 mangroves in Barangay Cotcot in the northern Cebu town of Liloan,” said Vivant Corporation chief corporate officer Carmela N. Franco. “This was just one of the many initiatives that promote our teams’ contribution to creating value for the group through volunteerism in community outreach and environmental protection activities.”
Vivant employees have been volunteering in various initiatives like coastal cleanup and Brigada Eskwela, which is conducted annually by Vivant Foundation in collaboration with the Department of Education.
Vivant Foundation, the corporate social responsibility arm of the Vivant Group, expanded
its solar energization program to Coron by installing a 15.12-kilowatt peak (kWp) PV system at the Banuang Daan Elementary School and by upgrading the tech-voc electrical installation and maintenance (EIM) track of the Coron School of Fisheries, both in Coron, Palawan.
The solar installation, donated by Vivant Foundation and COREnergy, Inc., powers the basic load of the three classrooms at Banuang Daan Elementary School and is seen to pave the way for DepEd’s computerization program for the off-grid school.
“By addressing environmental, social, and governance factors head-on, we not only protect our company from potential risks but also position ourselves as leaders in creating a more sustainable future,” Sarmiento said. (PR)