Environmental Performance

The policy spells out Cebu Property Ventures and Development Corporation (CPVDC's) concern for environmental problems, specifically climate change, as it affects all spheres of the Company’s business.

The real estate sector is one of the sectors that will mostly bear the effects of climate change as real estate is driven mainly by its site-specificity, i.e. we cannot relocate our real estate assets to other areas if there are problems on flood, sea level rise, water scarcity, disease outbreaks, and other natural and man-made calamities.

To respond to the call to mitigate the Company's environmental impacts and improve its environmental performance, the Company strives to efficiently use natural resources, reduce input materials and waste and contribute to the conservation of biodiversity of the areas that the Company controls. The Company also measures and reviews the effectiveness of its Quality, Environment and Health and Safety Management Systems (QEHS MS), in conformity with the requirements of ISO 9001:2008, ISO14001:2004, and OHSAS 18001:2007, and also in alignment with the Balanced Scorecard.

Organization

With these areas in focus, the Company formed a Pollution Control Officers' Team (PCO Team), composed of the property administrators and technical supervisors and assistants of the Property Management Division (PMD), with the QEHS Management Representative to ensure that the PCO Team is always guided and aligned with the overall environmental goals of the Company. The members of the PCO Team are accredited by the Department of Environment and Natural Resources (DENR).

Environmental and Occupational Health and Safety Impact and Risk Assessment and Objective Setting

To identify priority areas, the PCO Team, together with the Health and Safety Committee and the representatives of all departments, underwent an Environmental and Occupational Health and Safety Impact and Risk Assessment for all areas and processes. This exercise is done in a structured manner and at least once a year; if there are changes in operations; or if there are incidents that need to be analyzed, in conformity with the requirements of ISO 14001:2004 and OHSAS 18001:2007 standards.

As of December 2009, there is no impact or risk that is rated above 27, so all are considered not significant. To strengthen it further, CPVDC subjected the impacts or risks rated above 15 to further filter the applicable hierarchy of controls (e.g. elimination, substitution and controls).

Even though the EHS impact or risk is considered as not significant, the Company still implements objectives and targets to ensure that these are managed.