Philippine Geothermal Production Company, Inc. (PGPC), a subsidiary of SM Investments Corporation (SMIC), has become the first energy firm in the Philippines to adopt the Taskforce on Nature-related Financial Disclosures (TNFD) framework. The move signals a major advancement in the integration of biodiversity and nature-related risks into corporate sustainability reporting.
PGPC announced that it will implement the TNFD framework in its 2025 Sustainability Report. The company now joins over 500 organizations in more than 50 countries and territories that have committed to the framework, making it the fourth company in the Philippines to do so.
TNFD, launched in 2021, is a global initiative supported by governments, financial institutions, and private enterprises. It aims to guide organizations in identifying, assessing, and disclosing nature-related dependencies, impacts, risks, and opportunities, with the goal of shifting global financial flows toward nature-positive outcomes.
“As a resource provider for clean, renewable, geothermal energy, we at PGPC have always ensured that our operations take into consideration the preservation of our natural ecosystems,” said Jason R. Aguirre, PGPC’s Chief Financial Officer and Treasurer. “Our adoption of the TNFD framework is consistent with PGPC’s dedication to responsible stewardship of natural resources and aligns with our ongoing efforts to build a sustainable energy future for the country.”
PGPC currently operates two of Southeast Asia’s major geothermal steam fields — one in Tiwi, Albay, and another in Mak-Ban, spanning the provinces of Batangas and Laguna. Combined, these sites deliver up to 300 megawatts (MW) of renewable baseload power. The company is also advancing exploration efforts in new geothermal concession areas across Luzon, which could potentially contribute an additional 300 MW of clean energy in the near future.
PGPC’s move places it alongside major global TNFD adopters such as EY, PwC, ANA, Qantas, Moody’s, S&P Global, and Sumitomo, underscoring the growing international momentum behind integrating nature-related risks into business and investment decision-making.
