On the final day of the APEC Business Advisory Council meetings held 14 to 16 November in Bangkok, Thailand and attended by global industry captains and business leaders, Aboitiz Group President and Chief Executive Officer and ABAC PH member Sabin Aboitiz was announced as the 2023 ABAC Sustainable Growth Working Group Vice-Chair.
"I look forward to my new role with optimism and enthusiasm as we continue to work closely together towards achieving our shared goals for the region and delivering more sustainable and meaningful outcomes for the world," said Aboitiz, who will be working with 2023 ABAC Sustainable Growth Working Group Chair ABAC China member Ning Gaoning.
The initial areas of focus for the 2023 ABAC Sustainable Growth Working Group include promoting an effective response to climate change and transition to a low-carbon economy, advancing realistic energy transitions toward low carbon in the region, and supporting efficient and sustainable processes across the food value chain of the region.
Aboitiz will be able to draw on the continuing success of the Aboitiz Group's "Great Transformation" growth strategy, which has thrust the century-old conglomerate toward becoming the Philippines' first techglomerate. By leveraging technology and a renewed entrepreneurial mindset, the Aboitiz Group is able to tackle the challenges that plague the region, from energy to food insecurity, in a sustainable and inclusive manner.
AboitizPower has been building its clean energy portfolio while helping meet the country's energy security needs. At present, one out of five megawatts of installed renewable energy capacity in the Philippines comes from AboitizPower. The company aspires to a 50:50 balance between its renewable and thermal assets by 2030 with run-of-river, large hydro, solar, geothermal and wind sources.
Recently, AboitizPower entered into a joint venture with global renewable energy company Mainstream Renewable Power to build a 90-MW onshore wind project in Libmanan, Camarines Sur.
The Aboitiz Group has also risen to the continuing challenges that the food industry faces through Pilmico and Gold Coin Group, its integrated agribusiness and food unit. Addressing the threat posed by African swine fever and other harmful animal diseases, Pilmico increased facilities and capacities across the region, recognizing the importance of a region-wide food value chain.
Locally, a new breed and nursery farm in Nueva Ecija was completed in October to support and augment swine production. Regionally, Gold Coin, as part of the unified Food Group, is expanding capacity operations in China and Vietnam, to be completed by 2023, and research and development capabilities across the region, contributing to the United Nations' "zero hunger" sustainable development goal.