Financial resources do not reflect the total worth of a company. This Value Creation Diagram demonstrates how values, of many types, are created in First Gen. The process starts with inputs in the form of six capitals. These capitals undergo transformations via activities defined by business models to produce outputs in the form of products and services. The resulting changes in the initial capitals are called outcomes, which may have positive or negative impacts on the company, society, and the environment.
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OUR CHOSEN PATH
We choose to harness only those energy sources that allow us to meet the needs of the present without harming the ability of future generations to meet theirs.
With a deep understanding of the evolving needs of our customers, we will deliver resilient and compelling energy solutions that will promote energy productivity, empowering our customers to make the right choices and to do more with less energy, simultaneously reducing their carbon footprints.
We will lead the transition to a decarbonized energy system in line with the UN IPCC target of limiting global warming to 1.5 degrees Celsius.
READ MOREINPUTSClick on a capital to read more
Financial Capital
Manufactured Capital
Intellectual Capital
Human Capital
Social and Relationship Capital
Natural Capital
FINANCIAL CAPITAL- USD1.5 billion retained earnings
- USD674 million equity invested by common shareholders
- USD357 million equity invested by preferred shareholders
- USD1.9 billion debt provided by lenders
MANUFACTURED CAPITAL- 4 Natural Gas projects (2,017.0 MW)
- 12 Geothermal projects (1,181.8 MW)
- 1 Wind project (150.0 MW)
- 3 Hydro projects (134.4 MW)
- 10 Solar projects (12.0 MW)
INTELLECTUAL CAPITAL- PHP273.7 million investment in IT solutions
- Adaptation of processes with the work-from-home arrangements
- Information security program
HUMAN CAPITAL- 2,012 employees, 2.3:1 male to female ratio
- 51,357.2 hours of employee skills training
- 1,221.0 hours training related to human rights
- 107 employees hires
- COVID-19 response programs for employees
SOCIAL AND RELATIONSHIP CAPITAL- USD5.9 million community investment
- Partnership with 36 local government units and 221 host communities (inclusive of 4 indigenous people groups) located in areas of business operations
- Health and safety protocols extended to contractors
- COVID-19 mitigation efforts for partner communities
- Compliance with government regulations
NATURAL CAPITAL- 78,765,253.6 tons of non-renewable materials
- 212,274,717.5 tons of renewable materials
- 2,992,621.8 ML of water withdrawn
- 154,946,692.9 GJ of energy consumed
OUTPUT- 19,684.4 GWh of Clean and Renewable Energy
- 5,341,049.7 tCO2e of Scope 1 Emissions
- 188,162.8 tCO2e of Scope 2 Emissions
- 3,310.6 tCO2e of Scope 3 Emissions
- 2,990,101.0 ML of Water Discharged
- 196.9 tonnes of Non-Hazardous Wastes disposed
- 52.4 tonnes of Hazardous Wastes treated and disposed
PERFORMANCE- USD1.868B Direct Value Generated
- 95% (3,322MW) Contracted from the Total Installed Capacity
- 0.003 emission intensity (tCO2e/unit revenue)
- 0.28 emission intensity (tCO2e/MWh)
OUTPUT- 19,684.4 GWh of Clean and Renewable Energy
- 5,341,049.7 tCO2e of Scope 1 Emissions
- 188,162.8 tCO2e of Scope 2 Emissions
- 3,310.6 tCO2e of Scope 3 Emissions
- 2,990,101.0 ML of Water Discharged
- 196.9 tonnes of Non-Hazardous Wastes disposed
- 52.4 tonnes of Hazardous Wastes treated and disposed
PERFORMANCE- USD1.868B Direct Value Generated
- 95% (3,322MW) Contracted from the Total Installed Capacity
- 0.003 emission intensity (tCO2e/unit revenue)
- 0.28 emission intensity (tCO2e/MWh)
OUTCOMESClick on a capital to read more
Financial Capital
Manufactured Capital
Intellectual Capital
Human Capital
Social and Relationship Capital
Natural Capital
FINANCIAL CAPITAL- Attributable Net Income: USD275.7 million
- Cash generated from operations: USD602.5 million
- Declared PHP0.56 of dividends per common share
- 16.6% increase in share price in 2020, ranking 4th in terms of full-year performance among the 30-member Philippine Stock Exchange Composite Index
- Interest paid and principal repaid to lenders amounting to USD95.2 million and USD307.1 million, respectively
- 1.5x Net Debt/EBITDA and 0.7x Long Term Debt/Equity
MANUFACTURED CAPITAL- Provided 13.6% of the Philippines’ total installed capacity as of June 30, 2020
- Provided baseload, mid-merit, peaking energy that promote grid stability
- Climate-resilient infrastructure
INTELLECTUAL CAPITAL- Accessibility of data and information with the work-from-home arrangements
- Digitalized and improved processes of collaboration, approvals and data storage
- Secured and centralized systems
- Operationalized digitalization of health and safety protocols in the various sites
HUMAN CAPITAL- 17,156,234.0 man-hours worked
- 0.13 total recordable incident rate
- 72% of FPH/FGen employees are engaged
- 40.4 average training hours
SOCIAL AND RELATIONSHIP CAPITAL- 122 companies provided with clean and renewable energy, including 75 contestable customers, 20 distribution utilities/electric cooperatives, 3 retail energy suppliers/generation companies, 17 commercial, 3 institutional, and 4 directly connected customers
- 106 schools provided assistance with modular learning
- 13,254 families affected by typhoons and floods provided with assistance
- 1,568 households provided with livelihood assistance
- COVID management support to local government units
NATURAL CAPITAL- Adaptation to climate change
- Minimized exposure to future carbon regulation
- 13,564,692.9 tCO2e GHG avoided vs. coal
- 122,226.0 hectares of natural forest protected in Geothermal Reservations
- 1,739,824.0 tCO2e carbon sequestered in natural forests in Geothermal Reservations
- 1,970.0 hectares and 51 marine protected sites in 15 municipalities/city supported
- 615 species of fauna, 85 species of flora, and 33 species of mangrove monitored
