Citicore Energy REIT Corporation, the country’s first energy REIT, was voted Most Committed to Environmental Stewardship, Most Committed to High Governance Best Standards and Most Committed to Social Causes. These three awards are just among the seven Country awards received by CREIT during the recently concluded FinanceAsia’s 22nd Best Companies in Asia Poll.
CREIT debuted in the Philippine Stock Exchange last February 22, 2022 as the first energy- themed REIT in the country, a trailblazer going beyond the traditional commercial REITs in the market.
The company pioneered the Agro-Solar concept in the Philippines, which promotes the co- existence between solar power harvesting and vegetable farming. Various root crops and vegetables are planted underneath the panels to augment income of community farmers living within the vicinity of CREIT’s properties, with a long-term goal of transforming Filipino communities through positive energy and empowering investments through green sources of revenue.
As global economies continued to grapple with Covid-19 in 2021, the company focused on prioritizing the needs of its employees and partner communities. This included strengthening its Environmental, Social, and Governance (ESG) platform, which FinanceAsia’s 2022 Philippines’ Best CEO Oliver Tan considers vital amid the debilitating impact of the health crisis.
“CREIT remains supportive of the country’s desire to return to pre-COVID levels and always looks after the welfare of Filipino families. We are glad to be in the energy sector, which remains resilient due to a sustained demand for electricity amid remote work arrangements and enables us to further extend assistance to our partner communities. Our ESG standards serve as the baseline in achieving our triple bottomline goal of environmental, social, and economic sustainability and we remain thankful to our business partners and investors for recognizing and appreciating our drive to enhance our ESG program to secure the Company’s long-term sustainable growth,” Tan added.
FinanceAsia, a Hong Kong-based publication covering financial and capital markets in Asia, conducts an annual poll among members of the finance industry to determine the best managed companies in the region in categories that include overall management, corporate governance, corporate social responsibility, and corporate leadership. Capital providers, including lenders and investors, participate in the survey and voting process.
