ACEN Corp. has launched a net zero roadmap that includes near-term emission reduction targets aligned with greenhouse gas (GHG) protocols as well as climate-science based long-term targets that are also consistent with the decarbonization of the power sector.
The move makes ACEN likely the first energy firm in Southeast Asia to take step towards achieving net zero and providing an accountable and transparent framework for monitoring its progress.
To reach the net zero outcome, ACEN will rely on both emissions reduction and neutralization of residual emissions.
ACEN’s roadmap details the company’s goal to achieve near-term emission reduction targets in 2030; achieve long-term emission reduction targets in 2040; and neutralize residual emissions by 2050 and meet net zero ambition.
“We are pleased to share our progress on our commitment to achieve Net Zero GHG emissions by 2050, including reaching our long-term decarbonization goals by 2040, with clear milestones providing an accountable and transparent framework for measuring progress. The entire organization and the board fully support this initiative. Our climate ambition is well aligned with our vision to reach 20 gigawatts (GW) of renewables by 2030,” said Eric Francia, ACEN president and chief executive officer.
In October 2021, ACEN announced its commitment to achieve net zero GHG emissions by 2050 and has been transitioning its generation portfolio to 100 percent renewable energy by 2025.
ACEN currently owns a generation portfolio of 4,030 megawatts (MW) of capacity based on ownership stake, with 98 percent coming from renewable technologies across Asia-Pacific.
The ACEN group now has more than 2,400 MW of projects under construction and expects to spend P50 billion to P70 billion as capital expenditures this year to own 20,000 MW worth of RE capacity by 2030.
ACEN also has operations across the Philippines and the region, including Australia, Vietnam, Indonesia, India and the United States.
