Power producer STEAG State Power Inc. has been cited for being Best in Corporate Social Responsibility (CSR) Program during simple ceremonies that marked the 36th anniversary celebration of the PHIVIDEC Industrial Authority over the weekend.
Phividec Administrator Ninfa Along-Albania said that the award was a special recognition of Steag’s various efforts to help bring about the socioeconomic development of the people especially in its host communities in Misamis Oriental. Administrator Albania also cited Steag for being a reliable partner in the economic progress of the region.
Steag is one of the locators within a 3,000 hectare industrial estate owned and managed by PIA. At the moment, about 82 manufacturing and service industries are doing business in the estate boosting Region 10’s position as the largest regional economy in Mindanao. NSCB data showed that Region 10 has a GRDP of P73.2 billion accounting for about 28.1% of Mindanao’s GRDP.
Since start of its operations in 2006, Steag has delivered more than 4 billion kwH of electricity to the Mindanao grid representing about 20% of the island’s total power supply. Aside from helping secure a reliable source of power to the grid, the company has also embarked on various social development projects benefitting thousands of residents in its host communities.
Through the years, Steag has also managed to sustain its responsible business practices posting zero violation of local and international environmental standards and Zero LTA (Lost Time due to Accident). Its plant operation efficiency of 36% has exceeded the global average by as much as 28.5% thereby ensuring a more environmentally acceptable power generation process.
Steag Power Plant Manager Dr. Carsten Evers said the company has viewed CSR not just as an isolated program but as part of its core business.
“We strike a good balance between business sustainability, the interests of our stakeholders and the protection of the environment. We managed to achieve this by making CSR a part of our culture and by practicing responsibility and accountability in all aspects of our business” Dr. Evers said.