Century Pacific Food Inc. (PSE: CNPF), one of the Philippines’ leading food companies, was recognized for “Best ESG” in the Philippines in Institutional Investor’s All-Asia Executive Team 2020 rankings.
Institutional Investor is a leading international business-to-business publisher focused primarily on international finance. Its annual rankings of the region’s best executives, investor relations programs, and ESG (Environmental, Social, Governance), are highly anticipated by analysts and money managers at financial institutions. The 2020 results were determined through a survey of 2,532 investment professionals.
As the recognition affirms the growing importance of ESG, the company is continuing on its sustainability strategy and accelerating initiatives that contribute to planet preservation and social responsibility.
Key medium-term projects include the use of solar energy, reducing fresh water consumption, enhancing its feeding program, plastic neutrality, as well as introducing healthier, affordable product innovations.
To support its commitment to lessen greenhouse gas emissions, the company recently approved a 4.5 megawatt solar project in General Santos, its largest manufacturing base. Solar panels will be installed on the roofs of all its facilities in the area. This will allow CNPF to source almost 20% of its power requirements in General Santos through renewable energy and reduce its emissions by around 123,900 metric tons.
The company aims to reduce fresh water consumption in some plants by 30% within three years via a set of initiatives running through its manufacturing facilities, such as rain water recycling, desalination and condensate recovery, among others.
CNPF will also continue its 100% plastic neutral initiative through its recent partnership with Plastic Credit Exchange for plastic offsetting, as well as the verification and certification of this activity. This program collects municipal plastic waste equivalent to the tonnage of post-consumer plastic CNPF products use, and co-processes the plastic into energy in lieu of using coal.
For its “KAIN Po” feeding program, the group aims to maintain donating 5 million meals or more a year as part of its hunger alleviation and nutrition enhancement advocacy. Since inception in 2010, KAIN Po has donated more than 30 million meals. The group will now target activities towards some of the most impoverished communities in Mindanao and combine livelihood enhancement measures.
For new product innovations, the company aims to launch healthier and more affordable products, and have an impact on some of the country’s nutrition gaps. For example, CNPF recently launched a competitively priced milk product fortified with Vitamin C and Zinc for health and immunity, benefits that are in significant demand especially during this COVID-19 pandemic. Alongside efforts to fortify its products with nutrients, CNPF targets to reduce sodium levels. This will enhance the overall nutritional value of its products while maintaining their taste, quality, and affordability.
“Our vision is to be a responsible food company that is a leader in affordable nutrition. We intend to integrate this sustainability paradigm into our way of doing business. These initiatives are the first steps in a long journey. It is a real honor to receive this recognition from Institutional Investor. This award will motivate us to accelerate our move in this direction,” said CNPF Executive Chairman Christopher T. Po.