Coconut products exporter Axelum Resources Corp. said it had reduced its direct greenhouse gas emissions by up to 20% in 2021 as part of its effort to enhance the company’s climate change resiliency.
“Our climate action response forms a major part of our inclusive sustainability agenda. Aligned with the goals of the Paris Agreement, we enacted a proactive approach to contribute to mitigating the effects of global warming. For Axelum, this is just the beginning of a long-term commitment to advancing sustainable development for the benefit of the next generation,” Axelum Chairman Romeo I. Chan said in a statement on Friday.
In 2020, Axelum implemented methodologies and standards set by the Department of Environment and Natural Resources to measure its greenhouse gas output.
The company installed equipment to regulate electricity voltage supply and limit dependence on diesel-powered generators.
For 2022, Axelum plans to invest in a solar energy facility for its Medina plant in Misamis Oriental.
“This is reflective of a progressive mindset to deeply integrate the value of sustainability in the context of our business,” Mr. Chan said.
Axelum produces, manufactures, and exports coconut products including coconut water, desiccated coconuts, coconut milk powder, coconut milk and cream, reduced fat coconut, sweetened coconut, and coconut oil.
In the third quarter of 2021, its attributable net income increased 44.5% to P260.3 million from P180.2 million the year before.
From the January to September period, attributable net income rose 51% to P578.7 million from P383.1 million in 2020.
At the stock exchange Friday, Axelum shares increased P0.09 or 3.45% to finish at P2.70 apiece. — Luisa Maria Jacinta C. Jocson