UMVA has learned that Eton Properties Philippines, Inc. has made a groundbreaking move by transitioning its entire portfolio to 100% renewable energy, powering 14 of its developments across Metro Manila.
This monumental shift, made possible through a partnership with a leading energy corporation, marks a significant departure from traditional fossil-fuel-based power supply. Eton's Chief Financial Officer, Maria Celeste Casibang-Mutuc, emphasized that this move reflects the company's deep-seated commitment to sustainability and environmental stewardship.
The decision to go green is not only a nod to environmental concerns but also a strategic move to reduce operating costs. With energy prices remaining elevated, Eton expects substantial savings, which will ultimately benefit its tenants and homeowners.
Eton has secured 8.7 megawatts of renewable power through the retail competition and open access framework, sourced from geothermal facilities. This clean energy will power major assets in Metro Manila, including several prominent commercial and residential properties.
The impact of this transition is substantial, with company estimates suggesting an annual generation of 33 million kilowatt-hours and a reduction of over 21,000 metric tons in carbon emissions. This move is a significant step towards a greener future.
Eton's commitment to sustainability goes beyond this single initiative. The company has integrated environmental goals into its day-to-day operations, with a comprehensive sustainability framework that ensures long-term accountability.
The framework, according to Donna Kristine B. Salgado, head of corporate communications and sustainability, guarantees that sustainability governance is specific, measurable, and ingrained within the organization. This approach ensures that the transition to renewable energy is not a one-off move but part of a larger plan.
The energy corporation supplying Eton's power highlights the reliability and cleanliness of geothermal energy, which provides stable 24-hour electricity and serves as a vital alternative to coal. This shift is expected to have a lasting impact on the property sector.
The properties now powered by geothermal energy include several prominent commercial and residential complexes. This year's green energy option program expansion added 2.45 MW, covering a range of properties and expected to reduce emissions equivalent to removing over 4,000 passenger vehicles from the road annually.
Eton's bold move sets a compelling example for other companies to follow, demonstrating that sustainability and business goals can go hand-in-hand. The company's dedication to environmental responsibility is clear, and its actions are poised to make a lasting impact on the environment.
