MERALCO MGEN POWER GENERATION Sustainability Profile
Meralco MGen Power Generation Corporation, commonly referred to as MGen, is a leading player in the Philippine energy sector, headquartered in Pasig City, Philippines. Established in 2016, MGen focuses on power generation, primarily through renewable and conventional energy sources, contributing significantly to the country's energy landscape. With a commitment to sustainability, MGen operates various power plants across Luzon, enhancing the reliability of electricity supply. The company’s core services include the development, operation, and maintenance of power generation facilities, distinguished by their innovative technologies and adherence to environmental standards. MGen has achieved notable milestones, including strategic partnerships and investments in renewable energy projects, positioning itself as a key contributor to the Philippines' transition towards a more sustainable energy future.
DitchCarbon Score
How does MERALCO MGEN POWER GENERATION's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electricity Distribution industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
MERALCO MGEN POWER GENERATION's score of 7 is lower than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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MERALCO MGEN POWER GENERATION's reported carbon emissions
In 2023, MERALCO MGEN Power Generation reported significant carbon emissions, with Scope 1 emissions totalling approximately 10,200,842,400 kg CO2e and Scope 2 emissions from purchased electricity at about 230,180,110 kg CO2e. The company has not disclosed any Scope 3 emissions data. For the previous year, 2022, the Scope 2 emissions were reported at approximately 255,473,170 kg CO2e, while Scope 1 emissions included about 63,670 kg CO2e from gasoline consumption and 8,000 kg CO2e from coal combustion. In 2021, Scope 2 emissions were around 198,860,220 kg CO2e, with similar Scope 1 emissions figures. Despite these emissions, MERALCO MGEN Power Generation has not set specific reduction targets or climate pledges, as indicated by the absence of documented reduction initiatives. The emissions data is cascaded from its parent company, Meralco PowerGen Corporation, which is part of the Manila Electric Company corporate family. Overall, while MERALCO MGEN Power Generation has substantial emissions, it currently lacks defined climate commitments or reduction strategies, reflecting a broader industry context where many companies are still developing comprehensive climate action plans.
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| 2019 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 927,435,000 | - | - | 00,000,000,000 |
| Scope 2 | 1,740 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | - |
How Carbon Intensive is MERALCO MGEN POWER GENERATION's Industry?
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MERALCO MGEN POWER GENERATION's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
MERALCO MGEN POWER GENERATION has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
