The Securities and Exchange Commission (SEC) has granted Alternergy Holdings Corp. the Green Equity Label, making it the first listed Philippine company to earn this recognition.
The designation honors listed companies or those planning to go public that generate over 50 percent of their revenues from green activities and direct more than half of their investments toward them.
Alternergy president Gerry Magbanua said an external report from accounting firm SyCip Gorres Velayo and Co. verified the renewable power firm’s compliance with the SEC’s requirements for the label.
The report showed that 100 percent of Alternergy’s revenues were derived from clean energy, with more than 90 percent of its operating and capital spending dedicated to green activities.
‘Alternergy is a pure-play renewable energy developer, dedicated exclusively to clean power generation, which directly aligns with the requirements of the SEC certification,’ Magbanua said.
‘We commend the SEC for its recent issuance of Green Equity Label guidelines that aim to usher in more sustainability investors and grow the capital market for green initiatives, which Alternergy could tap for our future equity financing needs,’ he added.
According to a memorandum circular issued in September, the SEC said the Green Equity Label is designed to increase the visibility and attractiveness of companies committed to green activities.
These initiatives include economic activities that are environmentally and socially sustainable.
‘By identifying and recognizing these businesses, the Philippine Green Equity Label aims to direct capital flows toward enterprises that demonstrate environmental stewardship,’ the corporate regulator said.
Debuting on the Philippine Stock Exchange in 2023, Alternergy has positioned itself as one of the fastest-growing renewable power developers in the country.
Currently, the company’s portfolio includes wind, run-of-river, battery storage, solar farm and commercial rooftop, aiming to achieve at least 500 megawatts of renewable electricity capacity by 2026.