Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Megaworld goes fully renewable across key assets

MEGAWORLDCORP.COM

LISTED real estate developer Megaworld Corp. has fully transitioned its offices, hotels, lifestyle malls, and residential properties to 100% renewable energy (RE) as part of its sustainability initiatives.

The shift covers 54 commercial properties owned by Megaworld and listed under its real estate investment trust, MREIT, Inc., the company said in a stock exchange disclosure on Thursday.

These include 26 office towers, 15 lifestyle malls and retail establishments, and eight hotels located in Uptown Bonifacio, Eastwood City, McKinley Hill, McKinley West, Newport City, Southwoods City, Twin Lakes, Boracay Newcoast, and Iloilo Business Park.

Several residential properties in Uptown Bonifacio, Forbes Town in Taguig, Westside City in Parañaque, and Makati City have also fully transitioned to renewable energy.

These properties are classified as “contestable customers,” defined as establishments consuming 500 kilowatt-hours or more of electricity.

Contestable customers may source their electricity from licensed retail energy suppliers offering renewable energy solutions under the Retail Competition and Open Access framework.

“Reaching 100% renewable energy for all our properties is a significant leap forward in our sustainability journey. This milestone underscores Megaworld’s long-term commitment to environmental stewardship, and we are fully committed to extending these efforts to all our developments as we work towards building townships of the future powered by fully sustainable energy sources,” Megaworld Sustainability Head Jose Arnulfo C. Batac said.

Non-contestable properties, including those under Megaworld subsidiaries and joint ventures, are targeted to transition to renewable energy by 2030 under the company’s MEGreen sustainability program.

Launched in 2023, MEGreen consolidates all the company’s environmental initiatives under a unified platform aligned with the United Nations Sustainable Development Goals.

Megaworld shares were unchanged at P1.75 per share on Thursday. — Revin Mikhael D. Ochave

    You May Also Like

    Finance

    Gary Neville is known to most as a football legend – a stalwart of Manchester United and England, a leader on the pitch, and...

    Stock Markets

    PHILIPPINE President Ferdinand R. Marcos, Jr. met with Laos Prime Minister Sonexay Siphandone on May 26 as part of the 46th ASEAN Summit and...

    Stock Markets

    1 of 3 CHINESE AUTO giant Geely Auto recently arranged an international media tour predicated on the Auto Shanghai 2025. In a release, the...

    Finance

    Tesla has encountered legal headwinds in its push to trademark the terms “Robotaxi” and “Cybercab”, dealing a blow to the company’s highly anticipated autonomous...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.