DMCI Holdings (PSE: DMC) is the only publicly listed holding company in the Philippines that has construction as its core competency.
Known for its strong financial performance and resilient business portfolio, the Company has been steadily improving its Environmental, Social and Governance (ESG) initiatives to promote purposeful and sustainable growth for its stakeholders.
Advancing Environmental Stewardship
DMCI Holdings has businesses that depend primarily on natural resources. Subsidiary Semirara Mining and Power Corporation (PSE: SCC) is the largest coal producer in the Philippines, and the only domestic power producer that generates its own fuel.
In 2022, SCC completed backfilling operations in its Panian mine, once regarded as the largest open pit mine in the Philippines.
After spending P2.9 billion and 11.5 million man-hours on its Panian rehabilitation efforts, SCC was able to fill the pit with over 452 million bank cubic meters of earth material, which is enough to fill 217,000 Olympic-size swimming pools. SCC is now implementing a science-based plan to reforest the land and restore biodiversity in the area.
SCC also supports the conservation and protection of avian, marine and aquatic resources in its host communities through wildlife rescue and rehabilitation, river and coastal cleanups, mangrove reforestation, giant clam propagation, seagrass protection and coral reef rehabilitation, to name a few.
Wholly-owned DMCI Mining Corporation is engaged in the exploration, extraction and export of nickel resources, an essential raw material for the energy transition. Nickel is used to produce batteries for energy storage systems and electric vehicles.
In 2021, DMCI Mining earmarked P110 million for its six-year final rehabilitation program for its Berong mine, which was fully depleted in the fourth quarter of the same year. The program covers 109 hectares of surface mine, 209 hectares of silt control structures and 25 hectares of stockpile area. Around 14 hectares of mine access road will also be rehabilitated and turned over to the host community for their use.
Aside from mine rehabilitation, DMCI Mining is involved in environmental research, genetic resource conservation of indigenous plants, and seedlings production for reforestation activities.
Most of its subsidiaries—namely, D.M. Consunji, Inc., SCC, DMCI Power, and DMCI Mining—also have environmental management systems that are certified to the ISO 14001:2015 standard, allowing them to manage their environmental responsibilities in a systematic and consistent manner.
Towards Gender Equality
The DMCI group mostly operates in male-dominated industries: engineering and construction, mining, power generation and utilities. Despite this, DMC and SCC have been constituents of the Bloomberg Gender-Equality Index (GEI) since 2021.
Bloomberg GEI tracks the performance of public companies across the world, based on their commitment to disclosing their efforts to support gender equality through policy development, representation, and transparency.
DMC and SCC have been included in the 2023 Bloomberg GEI which measures gender equality across five pillars: female leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand.
Only four listed companies in the Philippines joined this year’s roster. This is the third straight year that DMC and SCC have been included in the prestigious index.
Strengthening Corporate Governance
In 2022, DMCI Holdings adopted a governance framework that outlines how the group manages risks and opportunities related to ESG factors. It also formed a Strategy and Sustainability Committee to assist and advise the Board of Directors in developing, assessing, and overseeing major plans and material issues that may affect the sustainability of the Company.
To strengthen Board independence and diversity, DMCI Holdings now has three independent directors whose expertise range from investment banking, finance, economics, law, and education. Its lead independent director (ID) is also the first female ID ever elected by the Company.
With these changes, independent directors now constitute one-third of the DMC Board while female directors account for nearly half (four out of nine) of the governing body.
DMCI Holdings likewise adopted a Diversity, Equality and Inclusion policy to foster an environment where employees are offered equal opportunities, and where employees feel safe, supported, and respected no matter their gender identity, religion, position in the company, or anything else that makes each different.
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