SMIC-led Philippine Geothermal Production Company, Inc. (PGPC) has become the first energy company in the Philippines to adopt the Taskforce on Nature-related Financial Disclosures (TNFD) framework, marking a significant leap forward in integrating nature and biodiversity considerations into corporate sustainability reporting.

A wholly-owned subsidiary of SM Investments Corporation (SMIC), PGPC has announced that it will apply the TNFD framework in its 2025 Sustainability Report. It is the fourth Philippine company overall to adopt these guidelines, joining over 500 organizations across 50 countries and territories worldwide.

TNFD is a global initiative launched in 2021, supported by governments, businesses, and financial institutions. Its overall goal is to guide companies in identifying and disclosing risks and opportunities related to natural ecosystems and biodiversity, ultimately encouraging 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 company’s ongoing efforts to build a sustainable energy future for the country.”

PGPC is Southeast Asia’s first commercial geothermal power provider and currently operates two major geothermal steam fields: one in Tiwi, Albay, and another in Mak-Ban, located in the provinces of Batangas and Laguna. Together, the facilities have a combined generation capacity of up to 300 megawatts (MW).

The company is also pursuing further exploration, targeting new geothermal concession areas across Luzon. These new sites, if successfully developed, could contribute another 300 MW of renewable baseload power to the region in the coming years.

Other major global TNFD adopters include EY, PwC, ANA, Qantas, Moody’s, S&P Global, and Sumitomo, showcasing growing international momentum toward nature-integrated sustainability frameworks.

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