About the Report

Scope and Boundary

The 2019 Integrated Report of First Philippine Holdings Corporation (FPH)covers the conglomerate’s financial, operational, environmental, and social performance from January 1 to December 31, 2019. The report focuses on the performance of our majority-owned and managed subsidiaries in energy, real estate, manufacturing, and construction, which includes the assets which were in service in 2019. As the report focuses on the performance of the conglomerate, data from our subsidiaries have been consolidated. 

Reporting Framework and Standards

This year, we adopted the Integrated Reporting <IR> Framework of the International Integrated Reporting Council (IIRC) to better define how we create value for our different stakeholders. The framework helped us better connect our financial and operational performance with our Environmental, Social, and Governance (ESG) initiatives, thereby providing a more holistic view of the company. 

We prepared the financial section of this report in compliance with the Philippine Financial Reporting Standards (PFRS). To better communicate our ESG or non-financial performance, we employed multiple sustainability reporting frameworks, standards, and protocols, most notable of which is the Sustainability Reporting Guidelines for Publicly-Listed Companies of the Philippine Securities and Exchange Commission (SEC). For a complete list of the relevant disclosures and sustainability reporting standards and references used for this report, please see page 132.

Approval and Assurance

The FPH Board of Directors provided internal assurance for the report, with support from its Corporate Governance Committee. The Center for Social Responsibility (CSR) of the University of Asia and the Pacific (UA&P), on the other hand, reviewed our materiality assessment process and adherence with the <IR> principles. As of 2019, UA&P is the only institution in the Philippines that provides IR-certified training, done in partnership with Singapore-based CSRWorks International, the licensed foundation partner of <IR> in Southeast Asia.