Organizational overview and external environment

Link

Business Environment

pp 26 to 31

Governance

Corporate Governance

pp 54 to 67

Business model

About the Company: pp 20 to 25

Strategy and Business Model: pp 70 to 94

Value Creation Framework: pp 180 to 183

ESG Outcomes: pp 108 to 177

Risk and Opportunities

Risk Management

pp 68 to 69

pp 75 to 87

Strategy and Resource Allocation

pp 70 to 72

Performance

2023 Highlights: pp 8 to 9

Progress on Our Mission: pp 190 to 195

ESG Outcomes: pp 108 to 177

Outlook

pp 196 to 199

Basis of preparation and presentation

About the Report: pp 4 to 6

Materiality: pp 100 to 107

Governance

a) Describe the board’s oversight of 

     climate-related risks and 

     opportunities.

Corporate Governance, 

Climate Governance, Governance Structure

pp 68 to 69

p 54

b) Management’s role in assessing and
managing climate-related risks and
     opportunities.

Corporate Governance, 

Climate Governance, Governance Structure

pp 68 to 69

p 54

Strategy

a) Climate-related risks and
     opportunities

Risk Management

pp 88 to 91

b) Impact of climate-related risks and
opportunities on the organization’s
     businesses, strategy, and financial

     planning.

Implications on Business and Strategic Options, Implications on the Resilience of FPH Business Strategy

pp 92 to 93

c) Organization’s strategy, taking into
consideration different climate-
related scenarios, including a 2°C or
     lower scenario.

Climate Scenario Analysis, Our Chosen Path (subsidiary strategy)

pp 88, 22

Risk Management

a) Organization’s processes for
     identifying and assessing climate-
     related risks.

Risk Management, Climate Scenario Analysis, Climate Risk/Opportunity Analysis

pp 68 to 69

p 88

b) Organization’s processes for managing
     climate-related risks.

Risk Management

pp 68 to 69

c) Integration of processes to identify,
     assess, and manage climate-related
     risks in the organization’s overall risk
     management.

Risk Management, Climate Risk and opportunity analysis

pp 68 to 69

pp 89 to 91

Metrics and Targets

a) Metrics used by the organization
     to assess climate-related risks and
     opportunities in line with its strategy
     and risk management process.

Risk Management, Climate Action

To be developed in 2024

b) Scope 1, Scope 2, and Scope 3
     greenhouse gas (GHG) emissions, and
     the related risks.

Emissions

pp 127 to 129

Targets used by the organization to manage climate-related risks and opportunities and performance against targets.

Emissions

Targets to be established

 General Information

GRI 2: General Disclosures;

The organization and its reporting practices

2-1 Organizational details

p 20

2-2 Entities included in the organization’s sustainability reporting

p 4

2-3 Reporting period, frequency and contact point

p 4

2-4 Restatements of information

p 253

2-5 External assurance

pp 202 to 211

GRI 2: General Disclosures;

Activities

2-6 Activities, value chain and other business relationships

pp 20 to 25

 Environment

GRI 305: Emissions 2016

305-1 Direct (Scope 1) GHG emissions

pp 126 to 129

305-2 Energy indirect (Scope 2) GHG emissions

pp 126 to 129

305-3 Other indirect (Scope 3) GHG emissions

pp 126 to 129

305-6 Emissions of ozone-depleting substances (ODS)

pp 126 to 129

305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions

p 129

GRI 302:
Energy 2016

302-1 Energy consumption within the organization

pp 124 to 126

302-4 Reduction of energy consumption

pp 124 to 126

GRI 301:
Materials 2016

301-1 Materials used by weight or volume

pp 130 to 131

GRI 306:
Waste 2020

306-1 Waste generation and significant waste-related impacts

pp 131 to 133

306-2 Management of significant waste-related impacts

pp 131 to 133

306-3 Waste generated

pp 131 to 133

306-4 Waste diverted from disposal

pp 131 to 133

306-5 Waste directed to disposal

pp 131 to 133

GRI 303:
Water and Effluents 2018

303-1 Interactions with water as a shared resource

p 134

303-2 Management of water discharge-related impacts

p 134

303-3 Water withdrawal

p 135

GRI 304:
Biodiversity 2024

304-3 Habitats Protected or Restored

pp 137 to 139

GRI 308:
Supplier Environmental Assessment 2016

308-1 New suppliers that were screened using environmental criteria

p 168

308-2 Negative environmental impacts in the supply chain and actions taken

p 168

Social

GRI 2: General Disclosures; Stakeholder Engagement

2-29 Approach to stakeholder engagement

pp 158 to 162

2-30 Collective bargaining agreements

p 164

GRI 2: General Disclosures

2-7 Employees

pp 140 to 141

GRI 401:
Employment 2016

401-1 New employee hires and employee turnover

p 142

401-3 Parental leave

p 147

GRI 404:
Training and Education 2016

404-1 Average hours of training per year per employee

p 143

404-2 Programs for upgrading employee skills and transition assistance programs

pp 143 to 144

404-3 Percentage of employees receiving regular performance and career development reviews

100% of employees received performance reviews in 2023.

GRI 402:
Labor and Management Relations 2016

402-1 Minimum notice periods regarding operational changes

30 days

GRI 405:
Diversity and Equal Opportunity 2016

405-1 Diversity of governance bodies and employees

pp 59, 140-141, 147

GRI 407:
Freedom of Association and Collective Bargaining 2016

407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk

p 164

GRI 403:
Occupational Health and Safety 2018

403-1 Occupational health and safety management system

pp 148 to 150

403-2 Hazard identification, risk assessment, and incident investigation

pp 148 to 150

403-3 Occupational health services

pp 148 to 150

403-4 Worker participation, consultation, and communication on occupational health and safety

pp 148 to 150

403-5 Worker training on occupational health and safety

pp 148 to 150

403-6 Promotion of worker health

pp 148 to 150

 GRI 403:
Occupational Health and Safety 2018

403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships

pp 148 to 150

403-8 Workers covered by an occupational health and safety management system

pp 148 to 150

403-9 Work-related injuries

p 150

403-10 Work-related ill health

p 150

GRI 406:
Non-discrimination 2016

406-1 Incidents of discrimination and corrective actions taken

No incidences of discrimination have been reported in 2023.

GRI 408:
Child Labor 2016

408-1 Operations and suppliers at significant risk for incidents of child labor

p 164

GRI 409:
Forced or Compulsory Labor 2016

409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor

p 164

GRI 413:
Local Communities 2016

413-1 Operations with local community engagement, impact assessments, and development programs

pp 165, 170-173

413-2 Operations with significant actual and potential negative impacts on local communities

p 165

GRI 411:
Rights of Indigenous Peoples 2016

411-1 Incidents of violations involving rights of indigenous peoples

p 165

GRI 414:
Supplier Social Assessment 2016

414-1 New suppliers that were screened using social criteria

p 168

414-2 Negative social impacts in the supply chain and actions taken

p 168

GRI 416:
Customer Health and Safety 2016

416-2 Incidents of non-compliance concerning the health and safety impacts of products and services

No cases of non-compliance

GRI 418:
Customer Privacy 2016

418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data

p 154

No incidences of breaches

in personal and corporate data.

Governance

GRI 2: General Disclosures; Governance

2-9 Governance structure and composition

p 54

2-10 Nomination and selection of the highest governance body

p 57

2-11 Chair of the highest governance body

p 54

2-12 Role of the highest governance body in overseeing the management of impacts

p 54

2-13 Delegation of responsibility for managing impacts

p 54

2-14 Role of the highest governance body in sustainability reporting

In 2018, the FPH Board issued a resolution declaring sustainability as a fiduciary duty of directors. Further, the Board shall be assisted by the Corporate Governance Committee to assist the board in sustainability matters.

2-15 Conflicts of interest

This is one of the responsibilities of the Audit Committee and is covered

by our Conflict of Interest Policy, available on our website.

2-16 Communication of critical concerns

Critical issues are communicated to the Board by the CEO, the President and the Chief Risk Officer through the Board Risk Oversight Committee.

2-17 Collective knowledge of the highest governance body

p 66

2-18 Evaluation of the performance of the highest governance body

An annual board assessment is conducted by the Board of its performance, key officers, and committees.

2-19 Remuneration policies

p 57

2-20 Process to determine remuneration

p 57

GRI 2: General Disclosures; Strategy, Policies, and Practices

2-22 Statement on sustainable development strategy

p 73

2-23 Policy commitments

p 55

2-24 Embedding policy commitments

pp 55, 163

2-25 Processes to remediate negative impacts

pp 55, 158, 162

2-26 Mechanisms for seeking advice and raising concerns

pp 55, 158, 162

2-27 Compliance with laws and regulations. 

The FPH group ensures compliance with all laws and regulatory requirements.

GRI 201:
Economic Performance 2016

201-1 Direct economic value generated and distributed

p 113

201-2 Financial implications and other risks and opportunities due to climate change

pp 88 to 91

201-3 Defined benefit plan obligations and other retirement plans

p 151

201-4 Financial assistance received from government

No assistance received from government

GRI 203:
Indirect Economic Impacts 2016

203-1 Infrastructure investments and services supported

pp 170 to 173

203-2 Significant indirect economic impacts

Indirect Economic Impacts

pp 170 to 173

GRI 204:
Procurement Practices 2016

204-1 Proportion of spending on local suppliers

p 113

GRI 205:
Anti-corruption 2016

205-1 Operations assessed for risks related to corruption

p 55

205-3 Confirmed incidents of corruption and actions taken

From our knowledge, no corruption or bribery issues have been reported in 2023.

1 No Poverty

1.5 By 2030, build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters

pp 170 to 173

3 Good Health
 and Well-being

3.8 Achieve universal health coverage, including financial risk protection, access to quality essential health-care services and access to safe, effective, quality and affordable essential medicines and vaccines for all

p 170

4 Quality Education

4.1 By 2030, ensure that all girls and boys complete free, equitable and quality primary and secondary education leading to relevant and effective learning outcomes

p 171

4.3 By 2030, ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university

p 171

4.4 By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship

p 171

4.5 By 2030, eliminate gender disparities in education and ensure equal access to all levels of education and vocational training for the vulnerable, including persons with disabilities, indigenous peoples and children in vulnerable situations

p 171

4.7 By 2030, ensure that all learners acquire the knowledge and skills needed to promote sustainable development, including, among others, through education for sustainable development and sustainable lifestyles, human rights, gender equality, promotion of a culture of peace and non-violence, global citizenship and appreciation of cultural diversity and of culture’s contribution to sustainable development

pp 143, 171

4.b By 2020, substantially expand globally the number of scholarships available to developing countries, in particular least developed countries, small island developing States and African countries, for enrolment in higher education, including vocational training and information and communications technology, technical, engineering and scientific programmes, in developed countries and other developing countries

pp 143, 171

5 Gender Equality

5.1 End all forms of discrimination against all women and girls everywhere

pp 147 to 148

6 Clean Water and Sanitation

6.2 By 2030, achieve access to adequate and equitable sanitation and hygiene for all and end open defecation, paying special attention to the needs of women and girls and those in vulnerable situations

p 170

6.3 By 2030, improve water quality by reducing pollution, eliminating dumping and minimizing release of hazardous chemicals and materials, halving the proportion of untreated wastewater and substantially increasing recycling and safe reuse globally

pp 134-135, 170

6.4 By 2030, substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity and substantially reduce the number of people suffering from water scarcity

pp 134-135, 170

7 Affordable and Clean Energy

7.1 By 2030, ensure universal access to affordable, reliable and modern energy services

pp 114-116, 155, 189

7.2 By 2030, increase substantially the share of renewable energy in the global energy mix

pp 114-116, 155, 189

12 Responsible Consumption and Production

12.5 By 2030, substantially reduce waste generation through prevention, reduction, recycling and reus

pp 131 to 133

12.6 Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle

FPH annually produces an Integrated Report that details the conglomerate’s impact to the environment and its stakeholders.

12.7 Promote public procurement practices that are sustainable, in accordance with national policies and priorities

p 168

13 Climate Action

13.1 Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries

p 172

13.2 Integrate climate change measures into national policies, strategies and planning

p 172

13.3 Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning

p 172

14 Life Below Water

14.2 By 2020, sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience, and take action for their restoration in order to achieve healthy and productive oceans

pp 137 to 139

 14 Life Below Water

14.4 By 2020, effectively regulate harvesting and end overfishing, illegal, unreported and unregulated fishing and destructive fishing practices and implement science-based management plans, in order to restore fish stocks in the shortest time feasible, at least to levels that can produce maximum sustainable yield as determined by their biological characteristics

pp 137, 139

14.5 By 2020, conserve at least 10 per cent of coastal and marine areas, consistent with national and international law and based on the best available scientific information

pp 137, 139

14.6 By 2020, prohibit certain forms of fisheries subsidies which contribute to overcapacity and overfishing, eliminate subsidies that contribute to illegal, unreported and unregulated fishing and refrain from introducing new such subsidies, recognizing that appropriate and effective special and differential treatment for developing and least developed countries should be an integral part of the World Trade Organization fisheries subsidies negotiation.

pp 137, 139

15 Life on Land

15.1 By 2020, ensure the conservation, restoration and sustainable use of terrestrial and inland freshwater ecosystems and their services, in particular forests, wetlands, mountains and drylands, in line with obligations under international agreements

pp 137 to 139

15.2 By 2020, promote the implementation of sustainable management of all types of forests, halt deforestation, restore degraded forests and substantially increase afforestation and reforestation globally

pp 137 to 139

15.3 By 2030, combat desertification, restore degraded land and soil, including land affected by desertification, drought and floods, and strive to achieve a land degradation-neutral world

pp 137 to 139

15.4 By 2030, ensure the conservation of mountain ecosystems, including their biodiversity, in order to enhance their capacity to provide benefits that are essential for sustainable development

pp 137 to 139

15.5 Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity and, by 2020, protect and prevent the extinction of threatened species

pp 137 to 139

15.7 Take urgent action to end poaching and trafficking of protected species of flora and fauna and address both demand and supply of illegal wildlife products

pp 137 to 139

8 Decent Work and Economic Growth

8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

pp 140 to 144

8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

pp 140, 172

8 Decent Work and Economic Growth

8.5 By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value

p 172

8.7 Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms

pp 162 to 166

8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

pp 162 to 166

9 Industry, Innovation and Infrastructure

9.1 Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all

pp 155 to 157

9.2 Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries

p 172

9.3 Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets

p 172

9.4 By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities

pp 155 to 157

10 Reduced Inequalities

10.2 By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status

pp 170 to 173

10.3 Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard

pp 170 to 173

11 Sustainable Cities and Communities

11.7 By 2030, provide universal access to safe, inclusive and accessible, green and public spaces, in particular for women and children, older persons and persons with disabilities

p 145

16 Peace, Justice and Strong Institutions

16.3 Promote the rule of law at the national and international levels and ensure equal access to justice for all

p 187

17 Partnership for the Goals

17.17 Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships

pp 160 to 162

Not applicable to FPH as a private organization

Foundational Principles

Business enterprises should respect human rights. This means that they should avoid infringing on the human rights of others and should address adverse human rights impacts with which they are involved.

FPH has existing social safeguard policies that realize our role and commitment to respecting the human rights of all of our stakeholders. These policies are: Human Rights, Gender Equality and Diversity, Rights of Indigenous Peoples, and Responsible Asset Management.

FPH and our subsidiaries have undertaken the basic requirement  of “Human Rights Due Diligence” to ensure potential salient issues are prevented.

These are detailed in our Social and Relationship Capital section. 

The responsibility of business enterprises to respect human rights refers to internationally recognized human rights—understood, at a minimum, as those expressed in the International Bill of Human Rights and the principles concerning fundamental rights set out in the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work.

The respect for universal rights under the International Bill of Rights is a requirement under the FPH Human Rights Guidelines to support the policy issued December 15, 2020

The responsibility to respect human rights requires that business enterprises:

(a) Avoid causing or contributing to adverse human 

      rights impacts through their own activities, and 

      address such impacts when they occur;

(b) Seek to prevent or mitigate adverse human 

      rights impacts that are directly linked to their 

      operations, products or services by their 

      business relationships, even if they have not 

      contributed to those impacts.

The ”Due Diligence” process undertaken by FPH and our subsidiaries included a Human Rights Impact Assessment across the value chain to address these requirements.

The responsibility of business enterprises to respect human rights applies to all enterprises regardless of their size, sector, operational context, ownership and structure. Nevertheless, the scale and complexity of the means through which enterprises meet that responsibility may vary according to these factors and with the severity of the enterprise’s adverse human rights impacts.

The FPH subsidiaries are of varied sizes and complexities numbering from less than 50 to as high as 4,800 employees or operating in one location or across the country and abroad. All these operating units are covered by the Human Rights policy and guidelines.

Foundational Principles

In order to meet their responsibility to respect human rights, business enterprises should have in place policies and processes appropriate to their size and circumstances, including:

(a) A policy commitment to meet their responsibility 

      to respect human rights;

All the 3 requirements are present in FPH and its subsidiaries:

Policy was issued on December 19, 2018

(b) A human rights due diligence process to 

      identify, prevent, mitigate and account for how 

      they address their impacts on human rights;

Training conducted by the Philippine Commission on Human Rights, University of the Philippines Human Rights Institute and Ateneo Human Rights Center, and Business and Human Rights Resource Center, UK in Aug.2021 and completed in 2022.

(c) Processes to enable the remediation of any 

      adverse human rights impacts they cause or to 

      which they contribute.

Grievance Redress Mechanism is available in all subsidiaries

Operational Principles

POLICY COMMITMENT

As the basis for embedding their responsibility to respect human rights, business enterprises should express their commitment to meet this responsibility through a statement of policy that:

(a) Is approved at the most senior level of the 

      business enterprise;

(b) Is informed by relevant internal and/or external 

      expertise;

(c) Stipulates the enterprise’s human rights 

      expectations of personnel, business partners 

      and other parties directly linked to its 

      operations, products or services;

(d) Is publicly available and communicated 

      internally and externally to all personnel, 

      business partners and other relevant parties;

(e) Is reflected in operational policies and 

      procedures necessary to embed it throughout 

      the business enterprise.

FPH has existing social safeguard policies that realize the role of businesses in respecting human rights. These policies are: Human Rights, Gender Equality and Diversity, Rights of Indigenous Peoples, and Responsible Asset Management.

Similarly, we completed our Human Rights Due Diligence processes in 2021-2022. Details on our progress and activities done by the conglomerate are detailed in our Social and Relationship Capital section.

HUMAN RIGHTS DUE DILIGENCE

In order to identify, prevent, mitigate and account for how they address their adverse human rights impacts, business enterprises should carry out human rights due diligence. The process should include assessing actual and potential human rights impacts, integrating and acting upon the findings, tracking responses, and communicating how impacts are addressed. Human rights due diligence:

Training conducted by the Philippine Commission on Human Rights, University of the Philippines Human Rights Institute and Ateneo Human Rights Center, and Business and Human Rights Resource Center, UK in August 2021 and completed in 2022.

(a) Should cover adverse human rights impacts that 

      the business enterprise may cause or contribute 

      to through its own activities, or which may 

      be directly linked to its operations, products or 

      services by its business relationships;

Our Human Rights policies and HRDD process encompasses all of our business activities and all of our stakeholders. Details on our progress and activities done by the conglomerate are detailed in our Social and Relationship Capital.

Operational Principles

(b) Will vary in complexity with the size of the 

      business enterprise, the risk of severe human 

      rights impacts, and the nature and context of its 

      operations;

The  Human Rights Impact Assessment was conducted per subsidiary across the value chain to capture the peculiarities of their respective operations.

(c) Should be ongoing, recognizing that the human 

      rights risks may change over time as the

Regularly reviewed

18. In order to gauge human rights risks, business enterprises should identify and assess any actual or potential adverse human rights impacts with which they may be involved either through their own activities or as a result of their business relationships. This process should:

(a) Draw on internal and/or independent external 

      human rights expertise;

(b) Involve meaningful consultation with potentially 

      affected groups and other relevant 

      stakeholders, as appropriate to the size of the 

      business enterprise and the nature and context 

      of the operation.

In order to prevent and mitigate adverse human rights impacts, business enterprises should integrate the findings from their impact assessments across relevant internal functions and processes, and take appropriate action.

(a) Effective integration requires that:

(i)  Responsibility for addressing such impacts is 

      assigned to the appropriate level and 

      function within the business enterprise;

(ii) Internal decision-making, budget allocations 

      and oversight processes enable effective 

      responses to such impacts.

(b) Appropriate action will vary according to:

(i)  Whether the business enterprise causes or 

      contributes to an adverse impact, or whether 

      it is involved solely because the impact is 

      directly linked to its operations, products or 

      services by a business relationship;

(ii) The extent of its leverage in addressing the 

      adverse impact.

Our HRDD processes are performed by our business segments across the value chain or in collaboration with their respective corporate functions. These include key personnel such as those from human resources, community relations, operations, project management, corporate communications, and procurement to name a few.

In order to account for how they address their human rights impacts, business enterprises should be prepared to communicate this externally, particularly when concerns are raised by or on behalf of affected stakeholders. Business enterprises whose operations or operating contexts pose risks of severe human rights impacts should report formally on how they address them. In all instances, communications should:

(a) Be of a form and frequency that reflect an 

      enterprise’s human rights impacts and that are 

      accessible to its intended audiences;

Part of our human rights due diligence activities is the identification of human rights-related risks encountered by our subsidiaries in their respective operations. Our businesses are required to enumerate measures to address or mitigate these risks from occurring.

For 2023, these risks are identified on pages 164-166 of the Social and Relationship Capital section.

Operational Principles

(b) Provide information that is sufficient to evaluate 

      the adequacy of an enterprise’s response to the 

      particular human rights impact involved;

(c) In turn not pose risks to affected stakeholders, 

      personnel or to legitimate requirements of 

      commercial confidentiality.

REMEDIATION

Where business enterprises identify that they have caused or contributed to adverse impacts, they should provide for or cooperate in their remediation through legitimate processes.

As prescribed by our Human Rights policy, our business operations are encouraged to maintain a grievance redress mechanism (GRM), enabling stakeholders to report cases, therefore allowing the organization to provide remedies for such cases and instances. The GRM is also a tool not only to get the incidents but to analyze how the transgression of rights can be prevented.

ISSUES OF CONTEXT

In all contexts, business enterprises should:

(a) Comply with all applicable laws and respect 

      internationally recognized human rights, 

      wherever they operate;

(b) Seek ways to honor the principles of 

      internationally recognized human rights when 

      faced with conflicting requirements;

(c) Treat the risk of causing or contributing to gross 

      human rights abuses as a legal compliance 

      issue wherever they operate.

Our human rights policies are compliant and aligned with the applicable local laws and internationally recognized legislations on human rights. 

Where it is necessary to prioritize actions to address actual and potential adverse human rights impacts, business enterprises should first seek to prevent and mitigate those that are most severe or where delayed response would make them irremediable.

Our projects undertake an Environmental and Social Assessment where we can identify the areas of impact and on whom (individuals or communities). Measures are provided and submitted to secure an Environmental Compliance  Certificate from the government to operate the project.

The GRMs are operations-focused so we can capture the issues on the ground.

Foundational Principles

To make it possible for grievances to be addressed early and remediated directly, business enterprises should establish or participate in effective operational-level grievance mechanisms for individuals and communities who may be adversely impacted.

FPH and our subsidiaries have an established GRM targeted to provide remedies to stakeholders impacted by our business operations. Additionally, the company identifies potential human rights risks through the existence of our Human Rights Due Diligence process. These are performed on a regular basis to ensure that all potential and actual incidences are mitigated and remediated.

Industry, multi-stakeholder and other collaborative initiatives that are based on respect for human rights-related standards should ensure that effective grievance mechanisms are available.

FPH and our subsidiaries work with local agencies and institutions to properly execute our HRDD activities. We have a firm partnership with the Commission of Human Rights in the Philippines guiding the organization’s HRDD activities.

Operational Principles

Operational-level mechanisms should also be:

(h) Based on engagement and dialogue: consulting 

      the stakeholder groups for whose use they are 

      intended on their design and performance, and 

      focusing on dialogue as the means to address 

      and resolve grievances.

Stakeholder engagement plays a key role in ensuring the success of our HRDD processes and human rights policies. In our areas of operation, we deploy our community relations and operation teams to regularly dialogue with community members on these matters.