CODE OF BUSINESS CONDUCT AND ETHICS:
The Corporation implements and monitors compliance with the code of ethics or conduct every year.
CORPORATE SOCIAL RESPONSIBILITY
– To become a self-sustaining and profitable Company for a long period of time by providing energy and energy-related products as its contributions to enhance energy supply in the country.
– To make an economic investment that protects the environment and natural resources.
– To avert forest loss and bring back biodiversity.
– To preserve, conserve and develop forests reserves for clean air, portable water, oxygen, watersheds, increase breeding, minimize erosion, etc.
– To utilize alternative source of energy to reduce burning of fossil fuels that produce carbon dioxide.
– To endeavor on education and awareness on climate change.
– Maintain and mobilize seedling stations and plant nurseries.
– Steward the growth and propagation of timber, fruit bearing trees, crops and vegetables, such as: mahogany, kamagong/mabolo, ipil, dao, gmelina, mango, mangosteen, lanzones, durian, pine tree, bamboo, napier grass, cassava, and other green vegetation.
– Study, research and technology in the development and utilization of organic farming.
1. Whistle-blowing Policy.
The Company has no whistle-blower program in place as yet.
2. Conflict of Interest Policy.
No any member of the Board of Directors or Officers is elected or appointive of public position in any department, branch, agency or instrumentality of government.
Should any member of the Board of Directors or Officers is elected or appointed to any government position such directors or officers have the task to make necessary disclosure and/or to make the necessary leave of absence or resignation to either offices in conflict of his or her position.
3. Related Party Transaction Policy.
Related Party relationships exist when one party has the ability to control, directly or indirectly through one or more intermediaries, the other party or exercise significant influence over the other party in making financial and operating decisions. Such relationship also exist between and/or among entities, which are under common control with the reporting enterprise or between and/or among the reporting enterprises and their key management personnel, directors or their shareholders.
Transactions between related parties are accounted for at arm’s length prices or on terms similar to those offered to non-related entities in an economically comparable market
Advances to/from related parties are stated at fair market value.
4. Policy and Data Relating to Health, Safety and Welfare of Employees, including company sponsored trainings.
The Company adheres to and provides the grant of social benefits and health services unto its staffs/personnel conformably with law.
The Company encourages its staffs/personnel to undergo academic training and seminar for professional development and technical competitiveness at the Company’s expense, in order to be at pace with the dynamic and evolving global standards.