Aboitiz Power Corp
AP
Industrials
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Aboitiz Power Corporation operates a significant coal-fired power generation fleet in the Philippines. Its subsidiary, GNPower Dinginin Ltd. Co., operates a 1,336 MW supercritical coal plant in Bataan, one of the largest in the country. The company has pursued expansion of coal capacity, including the Cebu coal project, which it states was exempt from the national coal moratorium instituted in 2020.
SN Aboitiz Power, a joint venture with SN Power of Norway, operates large-scale hydropower projects in the Philippines. In 2026, the company did not respond to allegations of violence against community defenders resisting its hydropower projects. The Business & Human Rights Resource Centre documented these allegations, which relate to the impacts of hydropower development on local communities and ecosystems.
The Department of Environment and Natural Resources - Environmental Management Bureau Region 6 (DENR-EMB 6) issued a notice of violation to AC Energy Corporation, an affiliate within the Aboitiz Group, for violating the Philippine Clean Water Act of 2004. While AboitizPower reports no significant environmental sanctions for 2024, this notice documents a regulatory action against a closely associated entity for water pollution.
Aboitiz Power Corp operates a significant portfolio of coal-fired power generation assets. Its 340-megawatt Toledo power plant in Cebu is a coal-fired facility, and the company has defended its coal expansion projects against claims of breaching the national moratorium. While AboitizPower is diversifying into renewable energy, its current generation mix and public statements cite a “pragmatic approach” that maintains a role for coal in balancing the Philippine grid. The company’s thermal power segment, which is primarily coal-based, remains a core part of its business as one of the nation's largest energy producers.
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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