About Us
Corporate Initiatives
Contextual Information
| Company Details | |
| Name of Organization | Lopez Holdings Corporation (PSE: LPZ) |
| Location of Headquarters |
16F North Tower, RBC Sheridan, Sheridan cor. United Sts., 1550 Highway Hills, Mandaluyong City |
| Location of Operations | Metro Manila |
| Report Boundary: Legal entities (e.g., subsidiaries) included in this report | Parent company only |
| Business Model, including Primary Activities, Brands, Products, and Services | As a publicly listed holding company invested in sustainable enterprises, LPZ provides management services in Finance and Accounting, Human Resources, Legal, and Public Relations. |
| Reporting Period | 2025 |
| Highest Ranking Person responsible for this report | Salvador G. Tirona, President, COO and CFO |
Materiality Process
Sustainability is a major consideration in the company’s risk management process, in which all employees participate to identify risks, opportunities and corresponding action plans with guidance from its board of directors. Feedback received from stakeholders serve as inputs for service improvement. Lopez Holdings’ company statements include sustainability and regeneration commitments.
It has identified the following as stakeholders, following annual review since 2003: shareholders, affiliates, regulators, creditors, employees and communities in which it operates. Although Lopez Holdings parent has been debt-free since mid-2017, creditors remain as stakeholders at the level of investees, as well as represent short-term creditors, most of whom are suppliers of goods and services that help the company achieve current and future objectives. Chosen material indicators reflect the company’s significant economic, environmental, and social impacts or substantively influence the assessments and decisions of stakeholders.
The material indicators of its major investees are reported in their respective sustainability reports, which are available online along with and as part of their annual reports. Refer to https://fphc.com/investor-relations/annual-reports for FPH and https://www.abs-cbn.com/investors/annual-reports for ABS-CBN. Their respective sustainability frameworks are among the inputs to the risk management process of Lopez Holdings that direct the Parent’s sustainability practices.
ECONOMIC
ECONOMIC PERFORMANCE
Direct Economic Value Generated and Distributed
LPZ (parent only)
Amounts in Php Millions
| Direct Economic Value Generated | 2025 | 2024 | |
| Revenues and Other Income | 622 | 639 | |
| Economic Value Distributed | |||
| Operating Costs | 62 | 65 | |
| Employee Wages and Benefits | 52 | 50 | |
| Payments to suppliers, other operating costs | N/A | N/A | |
| Payments to Providers of Capital (Debt and Equity) | 452 | 454 | |
| Payments to Government | 42 | 37 | |
| Community Investments | 3 | 4 | |
| Economic Value Retained | 11 | 29 | |
LPZ, having invested heavily in FPH and ABS-CBN, relies on dividends declared by these investees to cover parent company commitments to stakeholders. While ABS-CBN has not declared any dividends since 2020, the year in which it lost its broadcast franchise, embedded values, well-established control systems, participation in the boards of its investees, lifelong learning for officers and staff, and adoption of internationally accepted standards allow LPZ to continuously operate in a dynamic business environment.
It regularly evaluates risks and opportunities associated with its objectives of providing shareholders with reasonable returns, affiliates with essential support, regulators and government authorities with timely and full compliance, suppliers with payments, employees with wages and benefits, and beneficiary communities with contributions in cash, kind and volunteer time.
Climate-related risks and opportunities
Climate-related risks and opportunities affect all organizations. Through the Board Risk Oversight Committee (BROC), LPZ recognizes that the greatest impact of climate change is on the power and energy group under FPH. Targets and metrics are in the integrated report of FPH and presented to the BROC as part of its annual risk review. Committee members provide comments and insights on climate-related and other risks as part of the process.
For the Parent company, climate-related risks and opportunities are covered by its regular risk management process. These are part of environmental hazards and relate to the increased frequency and severity of extreme weather events, which affect employees when they occur. Mitigation measures in the office setting include raising sustainability awareness through talks, emergency response training and provision of go-bags, among others. A documented risk and opportunity assessment, done at least annually, was completed on February 4, 2025, and then revised on June 27, 2025 following a recommendation contained in an internal audit report.
PROCUREMENT PRACTICES
Proportion of spending on local suppliers
| Disclosure | Quantity | Units |
| Percentage of procurement budget used for significant locations of operations that is spent on local suppliers | 96 | % |
The objective of the company’s purchasing process is to obtain products and services needed at the best price and quality at the time needed, to support the company’s commitments to stakeholders. Process owners are responsible for the determination and review of requirements related to the provision of service/s including applicable statutory and regulatory requirements.
The company depends largely on suppliers who are located in Metro Manila, where its principal office is located.
ANTI-CORRUPTION
Training on Anti-corruption Policies and Procedures
| Disclosure | Quantity | Units |
| Percentage of employees to whom the organization’s anti-corruption policies and procedures have been communicated to | 100 | % |
| Percentage of business partners to whom the organization’s anti-corruption policies and procedures have been communicated to | 90 | % |
| Percentage of directors and management that have received anti-corruption training | 100 | % |
| Percentage of employees that have received anti-corruption training | 100 | % |
After the company adopted its Anti-Bribery and Corruption Policy in December 2019, it was posted on the website primarily to reach investors. The company’s vendor accreditation form was also revised in February 2020 to reflect said policy and agreement of vendors to abide by it. Communication of said policy to existing and new suppliers continue until all vendors are apprised and agree to the same.
Consistent with the Lopez Value of integrity, the policy aims to ensure that no act of bribery or corruption is committed by the company, its employees, officers, directors and consultants in gift-giving.
Incidents of Corruption
| Disclosure | Quantity | Units |
| Number of incidents in which directors were removed or disciplined for corruption | 0 | # |
| Number of incidents in which employees were dismissed or disciplined for corruption | 0 | # |
| Number of incidents when contracts with business partner were terminated due to incidents of corruption | 0 | # |
The Anti-Bribery and Corruption Policy is supported by an earlier adopted Whistleblower Policy, revised in October 2019, which establishes the mechanism for reporting of complaints or acts and omissions that are contrary to laws, rules, regulations or policies; unreasonable, unjust, unfair, oppressive or discriminatory; or represent undue or improper exercise of powers and prerogatives.
ENVIRONMENT
RESOURCE MANAGEMENT
Energy consumption within the organization
| Disclosure | Quantity | Units |
| Energy consumption (renewable sources) | Per DU | GJ |
| Energy consumption (gasoline) | < 1 | GJ |
| Energy consumption (LPG) | 0 | GJ |
| Energy consumption (diesel) | < 1 | GJ |
| Energy consumption (electricity) | 54,758 | kWh |
Reduction of energy consumption
| Disclosure | Quantity | Units |
| Energy reduction (gasoline) | N/A | GJ |
| Energy reduction (LPG) | N/A | GJ |
| Energy reduction (diesel) | N/A | GJ |
| Energy reduction (electricity) | -6,516 | kWh |
The company endeavors to use resources efficiently. All employees are expected to use only what is necessary to deliver on company commitments. Deliberate wastage of company resources is a serious offense under the company’s Code of Conduct. Electricity consumption at the Parent headquarters relies on the sourcing of its distribution utility (DU), Manila Electric Company. Office energy consumption decreased by a further 11% in 2025, following a 23% decrease in 2024. Employees are fully adapted to the hybrid workplace, availing of the company’s Telecommuting Work Arrangement (TWA), even as certain days are set for reporting to the office as required by various functions.
Water consumption within the organization
| Disclosure | Quantity | Units |
| Water withdrawal | N/A | Cubic meters |
| Water consumption | 129 | Cubic meters |
| Water recycled and reused | None | Cubic meters |
Water consumption at the Parent headquarters relies on the sourcing of its water utility, Manila Water Company, Inc. Office water consumption increased by 48% in 2025, following a 42% increase in 2024.
Materials used by the organization
| Disclosure | Quantity | Units |
| Materials used by weight or volume | Not Applicable | |
| *renewable | kg/liters | |
| *non-renewable | kg/liters | |
| Percentage of recycled input materials used to manufacture the organization’s primary products and services | Not Applicable | % |
The Parent provides management services as a publicly listed holding company. It does not use materials for the manufacture of services, other than office supplies, mostly paper for submission of mandatory reports or disclosures.
Ecosystems and biodiversity (whether in upland/watershed or coastal/marine)
| Disclosure | Quantity | Units |
| Operational sites owned, leased, managed in, or adjacent to protected areas and areas of high biodiversity value outside protected areas | Not Applicable | |
| Habitats protected or restored | Not Applicable | ha |
| IUCN Red List species and national conservation list species with habitats in areas affected by operation | Not Applicable |
The Parent operates in an office setting and is not actively involved in ecosystems and biodiversity, other than through its investees. The company encourages employees to participate in programs promoting healthy ecosystems and biodiversity.
ENVIRONMENTAL IMPACT MANAGEMENT
AIR EMISSIONS – Not Applicable
GHG
| Disclosure | Quantity | Units |
| Direct (Scope 1) GHG Emissions | 0 | Tonnes CO2e |
| Energy indirect (Scope 2) GHG Emissions | <1 | Tonnes CO2e |
| Emissions of ozone-depleting substances (ODS) | 0 | Tonnes |
The Parent operates in an office setting with air emissions limited to the daily transportation requirements of 12 employees. The company has adopted a hybrid workplace, allowing employees to avail of TWA, thereby reducing the need for transport services.
Air pollutants
| Disclosure | Quantity | Units |
| NOx | 0 | Kg |
| SOx | 0 | Kg |
| Persistent organic pollutants (POPs) | 0 | Kg |
| Volatile organic compounds (VOCs) | 0 | Kg |
| Hazardous air pollutants (HAPs) | 0 | Kg |
| Particulate matter (PM) | 0 | Kg |
The Parent is not involved in any processes that directly generate air pollutants.
SOLID AND HAZARDOUS WASTES – Not Applicable
Solid Waste
| Disclosure | Quantity | Units |
| Total solid waste generated | Kg | |
| Reusable | Zero | Kg |
| Recyclable | Zero | Kg |
| Composted | Zero | kg |
| Incinerated | Zero | kg |
| Residuals/Landfilled | All | kg |
The Parent operates in an office setting and solid waste generated is limited to office supplies used in regulatory compliance.
Hazardous Waste
| Disclosure | Quantity | Units |
| Total weight of hazardous waste generated | 0 | kg |
| Total weight of hazardous waste transported | 0 | kg |
The Parent is not involved in any processes that directly generate hazardous waste.
Effluents
| Disclosure | Quantity | Units |
| Total volume of water discharges | Zero | Cubic meters |
| Percent of wastewater recycled | Zero | % |
The Parent is not involved in any processes that directly generate effluents.
ENVIRONMENTAL COMPLIANCE
Non-compliance with Environmental Laws and Regulations
| Disclosure | Quantity | Units |
| Total amount of monetary fines for non-compliance with environmental laws and/or regulations | 0 | PhP |
| No. of non-monetary sanctions for non-compliance with environmental laws and/or regulations | 0 | # |
| No. of cases resolved through dispute resolution mechanism | 0 | # |
As a publicly listed holding company that provides management services in Finance and Accounting, Public Relations, Human Resources and Legal Services, the office operations of LPZ adhere to Occupational Safety and Health standards, as well as to environmental, safety and health (ESH) regulations enforced by the local government unit of Mandaluyong City, where the office is located.
An ESH Committee leads compliance with applicable OSH/ESH standards through policy recommendations, training, and information dissemination. Officers and staff annually review hazards and risks faced by the organization and act to mitigate or eliminate them. ESH risks were covered in the risk and opportunity assessment conducted on February 4, 2025. Results of the process were further discussed during the Quality Management System Planning held on the same day. Climate-related risks and opportunities, as well as those faced by employees as they avail of the TWA, were included in the assessment.
SOCIAL
EMPLOYEE MANAGEMENT
EMPLOYEE HIRING AND BENEFITS
Employee data
| Disclosure | Quantity | Units |
| Total number of employees | 12 | # |
| a. Number of female employees | 9 | # |
| b. Number of male employees | 3 | # |
| Attrition rate | 0 | Rate |
| Ratio of lowest paid employee against minimum wage | 3.31 | Ratio |
Employee benefits
| List of Benefits | Y/N | % of female employees who availed for the year | % of male employees who availed for the year |
| SSS | Y | 89 | 33 |
| PhilHealth | Y | 89 | 33 |
| Pag-ibig | Y | 89 | 33 |
| Solo Parent Act | Y | 0 | 0 |
| Parental leaves | Y | 0 | 0 |
| Vacation leaves | Y | 100 | 100 |
| Sick leaves | Y | 22 | 0 |
| Medical benefits (aside from Philhealth | Y | 33 | 0 |
| Housing assistance (aside from Pag-ibig) | N | N/A | N/A |
| Retirement fund (aside from SSS) | Y | 22 | 0 |
| Further education support | Y | 0 | 0 |
| Company stock options | N/A | N/A | N/A |
| Telecommuting | Y | 100 | 100 |
| Flexible-working Hours | Y | 100 | 100 |
| Others: | |||
| Company loan facilities (education, emergency) | Y | 22 | 0 |
| Clothing allowance | Y | 86 | 33 |
| Rice benefit | Y | 86 | 33 |
Lopez Holdings treats employees as partners in the success of the company. Their health and well-being are of prime importance in sustaining productivity and company growth. Health benefits, including a hospitalization plan, constitute a significant component of the company’s employment package. Regular employees undergo annual medical examinations, flu vaccinations and virtual seminars or webinars on physical, emotional, financial and spiritual wellness. Flu vaccinations in 2025 were done in employees’ homes through a mobile vaccination arrangement with a qualified nurse. Annual physical examinations (APEs) are conducted at the employee’s option in accredited clinics of their choice. Half (50%) of all employees availed their APE benefit for 2025, compared to 64% in 2024, and 82% in 2023. As the company adopted a hybrid workplace, where employees set days on which to report to headquarters, environment, safety and health protocols continued to be observed.
In 2025, out of 160 sick leave (SL) days, two employees used their SL for a total of 13.5 days or 8% utilization. This compares with 20% utilization in 2024 and 11% utilization in 2023.
It is the policy of the company to look after the general welfare of its employees. The company provides a wide range of benefits to meet employee needs, including life insurance; health care and other medical benefits that extend to immediate family members; vacation and sick leave entitlement; rest and recreation programs; and financial assistance in the form of loan facilities.
Employee Training and Development
| Disclosure | Quantity | Units |
| Total training hours provided to employees | 277.00 | hours |
| a. Female employees | 238.00 | hours |
| b. Male employees | 39.00 | hours |
| Average training hours provided to employees | 23.08 | hours/employee |
| a. Female employees | 26.44 | hours/employee |
| b. Male employees | 13.00 | hours/employee |
Lopez Holdings is committed to lifelong learning. It has an established process for identifying the learning and development needs of employees at every level. It provides resources for necessary and appropriate learning solutions, consistent with corporate goals. The corporate learning and development plan is reviewed and updated on an annual basis. The plan covers training that includes leadership, behavioral and technical skills.
The company aims to have each employee undergo at least three training man-days per year. Employees underwent mostly virtual learning sessions with an average of 2.9 training man-days in each of the years 2025 and 2024, and 3.2 training man-days in 2023.
Labor-Management Relations
| Disclosure | Quantity | Units |
| % of employees covered with Collective Bargaining Agreements | Zero | % |
| Number of consultations conducted with employees concerning employee-related policies | 1 | # |
As partners in the success of the company, Lopez Holdings employees enjoy merit-based compensation and benefits. The company’s performance management system provides for needs-based learning and active feedback on individual and team performance. Its Code of Conduct and Discipline clearly communicates desired behavior consistent with the Lopez Values, as well as lists sanctions for unacceptable behavior.
Diversity and Equal Opportunity
| Disclosure | Quantity | Units |
| % of female workers in the workforce | 75 | % |
| % of male workers in the workforce | 25 | % |
| Number of employees from indigenous communities and/or vulnerable sector | 6 | # |
Employees from vulnerable sectors comprise 54% of the Parent’s workforce. They enjoy mandatory benefits and an accessible workplace for the disabled should they need to go to the office.
WORKPLACE CONDITIONS, LABOR STANDARDS, AND HUMAN RIGHTS
Occupational Health and Safety
| Disclosure | Quantity | Units |
| Safe Man-Hours | 1,728 | Man-hours |
| No. of work-related injuries | Zero | # |
| No. of work-related fatalities | Zero | # |
| No. of work-related ill-health | Zero | # |
| No. of safety drills | 1 | # |
Employee safety is important to the company. The company ensures that employees are regularly trained in maintaining safety in the workplace and in preparing for and dealing with emergencies. They undergo building exit drills at least once a year, and in 2025, they participated in an exit drill held at company headquarters on April 11, 2025. The company’s ESH committee leads the enforcement of emergency protocols and provides regular ESH updates
Labor Laws and Human Rights
| Disclosure | Quantity | Units |
| No. of legal actions or employee grievances involving forced or child labor | Zero | # |
Do you have policies that explicitly disallows violations of labor laws and human rights (e.g., harassment, bullying) in the workplace?
| Topic | Y/N | If Yes, cite reference in the company policy |
| Forced labor | N | |
| Child labor | N | |
| Human Rights | N |
The Code of Conduct sanctions offenses against conduct and decorum. Among serious offenses are using disrespectful, profane, contemptuous, obscene and/or abusive language uttered verbally or by written or printed means, or by means of body signs or gestures, in dealing with, or relating to an immediate superior, subordinate employee, co-employee regardless of rank, title, position, customers, visitors and/or any other person doing or transacting business with the company, within company premises; while violating the Anti-Sexual Harassment Act is a grave offense.
SUPPLY CHAIN MANAGEMENT
Do you have a supplier accreditation policy? If yes, please attach the policy or link to the policy:
__________Yes (Attached: uncontrolled copy of Operation Policy (QM-LHC-06-01), and Vendor Accreditation Form (FM-LHC-02-10 (1)) ________________
Do you consider the following sustainability topics when accrediting suppliers?
| Topic | Y/N | If Yes, cite reference in the supplier policy |
| Environmental performance | Y | Operation Policy, Vendor Accreditation Form (Annex B) |
| Forced labor | Y | Operation Policy, Vendor Accreditation Form (Annex B) |
| Child labor | Y | Operation Policy, Vendor Accreditation Form (Annex B) |
| Human rights | Y | Operation Policy, Vendor Accreditation Form (Annex B) |
| Bribery and corruption | Y | Operation Policy, Vendor Accreditation Form (Annex B) |
Lopez Holdings accredits suppliers who agree to its policy on Operation Planning and Control, which lists as part of criteria for the process and acceptance of services the vendor’s agreement to comply with all pertinent laws and standards. These include those that prohibit forced labor, child labor, human rights and environmental violations, bribery and corruption, among others.
RELATIONSHIP WITH COMMUNITY
Significant Impacts on Local Communities
| Operations with significant (positive or negative) impacts on local communities (exclude CSR projects; this has to be business operations) | Location | Vulnerable groups (if applicable) | Does the particular operation have impacts on indigenous people (Y/N)? | Collective or individual rights that have been identified that or particular concern for the community | Mitigating measures (if negative) or enhancement measures (if positive) |
| Not Applicable |
For operations that are affecting IPs, indicate the total number of Free and Prior Informed Consent (FPIC) undergoing consultations and Certification Preconditions (CPs) secured and still operational and provide a copy or link to the certificates if available: _________
| Certificates | Quantity | Units |
| FPIC process is still ongoing | N/A | # |
| CP secured | N/A | # |
The Parent operates in an office setting with minimal impact on the local community. Its investees with significant impacts on their local communities report on these in their respective sustainability reports.
CUSTOMER MANAGEMENT
Customer Satisfaction
| Disclosure | Score | Did a third party conduct the customer satisfaction study (Y/N)? |
| Customer satisfaction | 4.3 out of 5 | N |
Lopez Holdings aims to deliver on its commitments to stakeholders satisfactorily. It provides services to affiliates, complete compliance with regulators, timely payment to suppliers, above average compensation and benefits to employees and meaningful support to communities in which its investees and corporate foundations operate. It also provided dividends to shareholders from 2011-2020 and again in 2022-2025. The company received an overall rating of 4.3 out of 5.0 in the customer satisfaction measurement survey conducted immediately after its virtual Annual Stockholders’ Meeting on June 19, 2025.
Health and Safety
| Disclosure | Quantity | Units |
| No. of substantiated complaints on product or service health and safety | Zero | # |
| No. of complaints addressed | Zero | # |
The Parent ensures the health and safety of stakeholders in the conduct of events, including its ASM and social responsibility projects. The employment of reputable third-party service providers helps the company address stakeholder issues satisfactorily. Health and safety risks form part of the risk register reviewed prior to and post-event. In 2025, the conduct of virtual meetings (including e-learning modules) through applicable online platforms contributed to the continued safety of company stakeholders.
Marketing and labelling – Not Applicable
| Disclosure | Quantity | Units |
| No. of substantiated complaints on marketing and labelling | N/A | # |
| No. of complaints addressed | N/A | # |
The Parent is not involved in services that require marketing and labelling.
Customer privacy
| Disclosure | Quantity | Units |
| No. of substantiated complaints on customer privacy | Zero | # |
| No. of complaints addressed | Zero | # |
| No. of customers, users and account holders whose information is used for secondary purposes | Zero | # |
The Parent controls stakeholder information in compliance with its Data Privacy Policy, downloadable from this page on the company website: https://lopez-holdings.ph/corporate-governance/policies.
Data Security
| Disclosure | Quantity | Units |
| No. of data breaches, including leaks, thefts and losses of data | Zero | # |
The Parent employs third party service providers to ensure the security of its data. There were no breaches detected in 2025.