Benpres BuildingLopez Holdings Corporation echoed the call of investee First Philippine Holdings Corporation (FPH) for a low-carbon future.
Speaking to shareholders at their annual meeting, Ambassador Manuel M. Lopez (AMML), chairman and chief executive officer of Lopez Holdings, said “clean energy is necessary if our country will fulfill its commitment to COP21 (the 21st Conference of Parties, also known as the 2015 Paris Climate Conference), among them to reduce greenhouse-gas emissions conditionally by 70% by year 2030, in solidarity with other nations.”
AMML said: “We must support economic growth with clean energy, to balance our current needs with those of future generations who will have to deal with greater crises from climate change. We support our government’s thrust to uplift the quality of life of Filipinos through socioeconomic interventions, while at the same time creating resilient communities, prepared for disasters and willing to forgo short-term gains in favor of long-term value.”
FPH subsidiary First Gen Corporation has the cleanest portfolio of power plants in the Philippines with electricity generated from steam, water, wind and natural gas.
“It’s low carbon intensity which means it releases lower carbon dioxide emissions and contributes less to global warming,” AMML said.
Lopez Holdings president Salvador G. Tirona, in his report, said the company continues to improve its year-on-year financial results, based on the solid performance of FPH and ABS-CBN Corporation.
“Lopez Holdings’ total consolidated assets grew to P358.584 billion in 2015 from P338.724B in 2014. This figure mainly includes assets of FPH. Debt-toequity ratio slightly improved at 3.53x in 2015 versus 3.88x in 2014. Also, book value per share was up at P11.88 a share at the end of 2015 from P10.63 a share in 2014,” Tirona said.
The Lopez Holdings board on May 30 declared a P0.20 per share cash dividend to be paid on June 29 to stockholders as of the record date, June 14. Lopez Holdings began paying out annual dividends in 2011. (Story/Photo by: Carla Paras-Sison)