IJGlobal ESG Awards 2025 – APAC Company Winners

The shortlists and winners for the company category of the APAC chapter of the IJGlobal ESG Awards were announced tonight in The Westin Singapore.

The event was staged this evening following the Infrastructure Finance Forum – Asia 2025 that concluded earlier today at the same venue.

IJGlobal ESG Awards are now in their fifth year – hosted tonight for the first time in Asia Pacific – and they recognise developments from 1 July 2024 to 30 June 2025.

We take immense pride in our judging process and the peer-review nature of all our awards which (we believe) make them the most impactful in the infra/energy community.

You can read about the judging panel here and it makes votes on every single category that is considered and – possibly – awarded. We are unaware of any other title in this sector that goes to such lengths to achieve this level of impartiality.

The winners in the company category are:

• Innovation Award – The Private Infrastructure Development Group
• Developer of the Year – MERALCO PowerGen Corporation
• ESG Lender – Societe Generale
• Green Bond Arranger – DBS Bank
• Legal Adviser – A&O Shearman
• ESG Coordinator – ING Bank
• Second Party Opinion Provider – Moody's Ratings
• ESG Consultancy – InCorp Advisory
• Environment Award – The Private Infrastructure Development Group
• Social Award – Horana Plantations PLC

 

IJGlobal ESG Innovation Award 2025

PIDG

The Private Infrastructure Development Group (PIDG) – an infrastructure developer and investor that mobilises private investment in sustainable and inclusive infrastructure in Africa and Asia – was chosen by the independent panel of judges to win the ESG innovation award.

One of the judges said that PIDG was “an important and consistent supporter of key ESG projects” with another recognising “innovative financing structures bringing about environmental and social impact”.

Another of the judges said: “PIDG has both compelling experience and track record. I was particularly impressed by its involvement in the Vietnam water treatment project bond stands.

“This stands out for me. As a project financier, I appreciate the challenges of international debt in this sector and country. This is a landmark transaction and a first of its kind – very much deserving of the ESG innovation award.”

PIDG works with public and private partners to bridge financing gaps, directing capital and expertise into projects that promote climate resilience and sustainable growth.

It works throughout the project lifestyle, with a range of solutions – technical assistance, project development, debt and guarantees – designed to reduce financial risk, transform markets, and build local capacity.

PIDG in 2024 implemented the strategic decision to integrate its project development offerings in Africa and Asia (InfraCo) and the further insourcing of our guarantee solution (GuarantCo). Meanwhile its Emerging Africa and Asia Infrastructure Fund expanded its mandate into Asia.

Its Sustainability and Impact Report 2024 charts a total global investment commitment of $5.5 billion mobilised by PIDG into critical sustainable infrastructure projects.

The submission states: “Combined these projects have provided 5.7 million people with access to improved infrastructure. They will also provide 4,920 short-term and 11,798 long-term jobs.

“Furthermore, 64% of commitments were classified as climate finance, with a focus on both mitigation and adaption, and 72% contributed to gender equality outcomes.

“We achieved financial close on 25 projects, 15 of which were in the least developed countries or fragile and conflict affected states, highlighting PIDG’s focus on the most challenging environments to maximise ESG impact within the energy and infrastructure sectors.”

Of the examples PIDG gave in its submission, the judges were most impressed by the role it played in driving AquaOne Water Treatment Plant in Vietnam to financial close in December (2024).

PIDG provided a $47 million guarantee for the issue of a landmark 20-year green bond to finance a greenfield water treatment and supply system.

The project is Vietnam’s first verified green project bond in the water sector, and the longest-tenor project bond issuance in the country to-date.

The water treatment plant will be operational by early 2026 supplying 150,000 cbm/day of clean water, improving access for 53,000 people.

The submission states: “This project represents a key step in the Vietnamese government’s efforts to transition away from groundwater sources, the overextraction of which has become environmentally harmful.

“By using river water, the project is also ensuring a higher quality of water, which will positively impact public health.”

Water projects are challenging – even in developed markets – and there have been limited instances of international debt financings for water projects in Vietnam.

This transaction is notable in establishing international project financing standards within the water sector locally.

This pioneering project will encourage market replication by demonstrating the viability of bond transactions as a mechanism of channelling long-term private capital towards the water sector.

 

Developer of the Year

MERALCO PowerGen Corporation

MERALCO PowerGen Corporation (MGEN) – the wholly-owned subsidiary of MERALCO and the largest private sector electric distribution utility in the Philippines – was chosen to win the ESG developer award based for MTerra Solar.

As one judge said of MTerra, it is “a hugely important and impactful solar project” that another says “demonstrated ESG impact through project and community impact”.

Another judge said: “The size of the transaction makes this deal impressive, noting some of the challenges that project finance deals typically meet in the Philippines, including securing land.”

MGEN Renewable Energy (MGreen) is a wholly owned subsidiary of MGEN, serving as the renewable energy (RE) arm focused on investing in and developing energy projects that utilise clean and sustainable energy sources.

Its portfolio (at the time of writing the submission) comprised 8 operational and under-construction solar assets across the Philippines, with a total of 1,078MWdc of capacity.

It holds a direct stake in SP New Energy Corporation (SPNEC) – an integrated developer, owner and operator of solar power projects in the Philippines.

MGEN won this ESG award for MTerra Solar, a pioneering 3.5GW solar PV project with an associated 4,500 MWhr battery energy storage solution (BESS) project being built and operated by Terra Solar Philippines Inc (TSPI).

It has a power supply agreement (PSA) signed with MERALCO and the project was identified and pursued as a one-of-a-kind opportunity since 2016 with various pre-development works completed (rights and permits, land consolidation, offtake with Meralco).

Site construction commenced upon the execution of EPC contracts in November 2024.

The shareholding of MTerra breaks down with SPNEC holding the 60% majority and by Actis with 40% having bought into it in March through Actis Energy 5.

 

IJGlobal ESG Lender

Societe Generale

Societe Generale was chosen by the APAC panel of ESG judges to win the regional lenders category having already picked up the global financial advisory trophy.

One of the judges described Societe Generale as “one of the leading banks in ESG financing throughout Asia Pacific” and another celebrating its involvement in “a wide variety of energy projects including sectors that are more challenging”.

SocGen impressed the judges with a submission that laid out its impact across Asia Pacific having embarked on its maiden and second forays to finance renewable energy projects in Indonesia and India.

The French bank has leveraging key players active in Japanese renewables while also growing its track record in offshore wind in Taiwan, working on ever-broadening Australian project.

It has been advancing financing into data centres and inaugural telecoms projects in India, while also adapting financing in New Zealand transport and financing critical minerals within the EV value chain.

One of the projects that SocGen was keen to highlight for this ESG financial advisory award was the 50MW Ibu Kota Nusantara Solar PV Plant with associated 14MWh BESS

SG acted as financial adviser and MLA for the $52 million project financing of IKN Solar Power + BESS project in Nusantara, East Kalimantan – Indonesia’s new capital city.

The project is being developed by PT Nusantara Sembcorp Solar Energi, a JV between Sembcorp Renewables Indonesia and PT PLN Nusantara Renewables Investasi.

Construction is divided into 2 phases – an initial 10MW of solar capacity followed by the remaining 40MW solar capacity alongside the BESS component.

The submission states: “This is the first renewable project in Nusantara, the new capital city of Indonesia and is a strategic step to accelerate the supply of renewable energy in Nusantara.

“This project marks Sembcorp’s initial foray into utility-scale solar development in Indonesia and represents Singapore’s first foreign investment in Nusantara City.”

SG played an instrumental role in assisting the sponsors negotiate the PPA with PLN within 9 months post-appointment and achieving financial close within 6 months after agreement on the financing term sheet.

This financing marks SG’s first advisory for a renewable project in the country building on its track record of arranging diverse renewable financings.

The bank also acted as MLA on the $250 million refinancing of a 90MW waste-to-energy project in Hanoi – the 75MW Hanoi Soc Son WtE Plant.

The project was developed by Ha Noi Thien Y Environmental Energy JCS, a Vietnam incorporated entity that is 94% owned by China Tianying Inc.

It was developed as a successful alternative to the highly overloaded and poorly managed Nam Son landfill, Hanoi's largest landfill.

The first 2 phases have been operational since 2023 while Phase 3 is expected to come online this year (2025).

The project is underpinned by a 20-year fixed price PPA with state-owned Electricity Vietnam (EV). Waste supply is backed by a 49-year municipal solid waste supply agreement with the City of Hanoi’s Hanoi People's Committee.

It enables Vietnam to reduce dependence on landfills while meeting rising electricity demand. The project is aligned with the government's ambition to utilise 70% of municipal solid waste for electricity generation by 2030.

The project is the largest waste-to-energy project in Vietnam and third largest worldwide.

As SG's first waste-to-energy project financing in Vietnam, it demonstrates the lender’s ability to deliver comprehensive financing solutions for a complex market.

 

Green Bond Arranger

DBS Bank

The Singapore judging panel chose DBS Bank to win the green bond arranger trophy in the IJGlobal ESG Awards 2025.

One of the judges said DBS was “a leader among ESG arrangers” while another recognised it for having a “demonstrated ability to close a green bond”.

DBS in 2020 launched the world’s first sustainable and transition finance framework and taxonomy serving as a reference to guide clients to adapt and build resilience in the face of climate change, resource scarcity and address critical global issues such as social inequality.

The next year (2021), DBS committed to Net Zero by 2050 and was the first Singapore bank to join the UN-linked Net-Zero Banking Alliance.

This, according to the submission, “reinforces the bank’s continued commitment to work alongside industry peers, customers and policymakers in collective efforts in the global transition towards net zero”.

Through the bank’s institutional banking group (IBG) sustainability team and investment banking (IB) ESG advisory, it provides support to clients for their ESG needs, helping to shape their sustainable business and financing practices.

Services span from the establishment of sustainable finance frameworks, coordination of external reviews (second party opinions), and assistance with investor and stakeholder engagements, alongside other structuring activities.

DBS was the sole green bond coordinator, joint arranger and joint global coordinator, lead manager and bookrunner for Equinix’s $3 billion Euro medium term note programme and its inaugural SGD drawdown.

The SGD 500 million issuance was the first green bond by a foreign non-financial corporate issuer in the SGD bond market, first US corporate issuer to tap the SGD bond market since 2019 and the largest SGD bond issued by a non-Asian corporate.

DBS was a joint lead manager and joint bookrunner for MTRC’s maiden public CNH issuance.

The 10-year tranche was the largest CNH 10-year public bond issuance issued by a corporate while the 30-year tranche was the first 30-year CNH public bond for a Greater China corporate issuer and longest tenor public CNH bond by a corporate issuer.

 

Legal Adviser

A&O Shearman

The independent panel of judges was won over by the A&O Shearman submission – against strong competition – to win the ESG award for legal advisory across Asia Pacific.

One of the judges said A&O Shearman had “good experience and displayed an impressive variety of transactions closed across a range of countries and sectors” with another adding that it had been involved in “innovative financing structures, including capital markets”.

The A&O Shearman team has – over the course of the judging period – been instrumental in designing and executing transactions that have broken new ground, both in terms of legal structuring and market impact.

It led the way on India’s largest sustainability-linked data centre financing for AdaniConneX, introducing a sophisticated margin adjustment mechanism tied to ambitious sustainability performance indicators, such as power usage effectiveness, renewable energy consumption, and safety standards. This was not just a first for the Indian market, but a model for the region.

The submission states: “Our bespoke legal structuring provided operational flexibility for portfolio expansion and introduced a unique events of default regime to minimise cross-project risk.

“This transaction has set a new precedent for sustainable infrastructure finance in India, directly supporting the country’s net zero ambitions and the growth of green digital infrastructure.”

Its work with the Asian Development Bank on the IF-CAP facility established the first leveraged guarantee mechanism for climate finance by a multilateral development bank, multiplying the effect of every dollar invested and setting a new global standard.

In Hong Kong, the law firm advised on the first multi-currency, digitally native green bond issuance, harnessing distributed ledger technology to deliver unprecedented transparency, efficiency, and investor access.

The submission states: “Our ability to navigate complex, cross-border regulatory environments has allowed us to embed ESG considerations at every stage, working closely with development finance institutions, corporates, and regulators to create scalable, replicable models for sustainable finance.

“These efforts have not only supported the transition to net zero but have also helped shape the future of sustainable finance in the region.”

 

ESG Coordinator

ING Bank

ING Bank was selected by the APAC judging panel as the winner of the ESG coordinator role for – as one judge puts it – being “a market leader in ESG for the finance industry”.

Another of the judges said: “ING has been involved in solid transactions. Whilst the BESS and HMM are more regular formats, the ILBS transaction opens up capital to be routed for social deployment via basket of projects.”

ING co-created the pioneering Terra Approach with the 2 Degrees Investing Initiative, becoming the first global bank to commit to using science-based scenarios to steer its high-carbon business sectors toward net zero by 2050.

Four sectors – power generation, upstream oil and gas, automotive, and shipping – are on track to meet climate goals.

In 2024, ING reviewed the latest net zero scenarios and recalculated targets, including a full phase-out of upstream O&G in its portfolio by 2040.

Using these pathways, ING became the first global systematically important bank to have our climate targets validated by Science Based Targets Initiative.

The submission states: “Through our environmental and social risk (ESR) framework, sustainability is embedded into lending decisions.

“In 2023, we assessed and scored over 2,000 large clients, including those in energy and infrastructure sectors, on climate disclosures and transition planning, using this data to inform client engagement and financing decisions.

“By 2024, our climate transition plans (CTP) assessment became integral to our wholesale banking approval process, shaping capital allocation to support transitions.

“Our in-house ESG.X tool enables front-office colleagues to track CTP score changes and client progress over time.”

ING has set an ambitious new target to mobilise €150 billion in sustainable finance annually by 2027 and support wholesale banking clients in their sustainability transitions.

This target spans green, social, and sustainability-linked loans and bonds, sustainable structured finance, and advisory services.

In Asia Pacific, ING continues to lead the ESG agenda, acting in a sole or joint sustainability coordinator role in 62% of its transactions, a 3% increase from 2023.

In terms of value, ING APAC's sustainable finance volume grew by 39% year-on-year in 2024, demonstrating tangible progress in scaling sustainable financing solutions across key industries.

One of the key transactions that ING identifies in its submission is having acted as sole sustainability coordinator and MLA for Canadian Solar’s green loan.

Proceeds were used to construct 2 battery energy storage systems (BESS) in Taiwan, supporting its energy transition plan.

This additional battery capacity will be sold in the Taiwanese auxiliary services market, providing a flexible resource to address fluctuations in supply and demand.

With the increasing integration of renewable energy sources, Canadian Solar’s BESS project contributes to the enhancement of Taiwan’s electricity reliability and stability.

Taiwan’s energy transition plan aims to generate 20% of its electricity from renewable sources and the amount of renewable energy is set to increase evidenced by the ramp up in development of offshore wind farms in Taiwan Strait.

BESS projects, such as Canadian Solar’s, are therefore crucial to handle the increased needs by reliably managing the intermittent nature of renewables.

The availability of storage systems to manage the flow of renewables will also prompt further addition of renewable energy generation as there is sufficient infrastructure to support this uptake of green energy.

ING also acted as sole sustainable finance adviser for HKMC’s sustainable infrastructure loan-backed securities (ILBS) transaction – Bauhinia 2.

Proceeds were channelled to finance a pool of infrastructure across 14 projects, with 7 of them having green and/or social purposes.

The ILBS boasts an innovative structure, with 5 classes of notes of varying risks and yields, including a sustainability tranche (Class A1-SU).

Bauhinia 2 was chiefly issued with the support of ING to replicate the success of the first iteration.

Both ILBS transactions have played a key role in advancing sustainable finance in the region: Bauhinia 1 achieved a 10 basis points greenium on its Class A1-SU Notes, despite having the same credit profile as conventional notes, and Bauhinia 2 followed with a 5 basis points greenium.

This highlighted investor confidence in ESG-labelled products, considering beyond just risk and reward, but impact too.

A notable innovation was the introduction of a pre-issuance impact report, which provided clear and measurable ESG data before the securities were issued.

This transparency helped investors make more informed decisions and contributed to the pricing benefits, which reflect a broader shift in investment thinking where sustainability is becoming an essential part of the equation.

 

Second Party Opinion Provider

Moody's Ratings

Moody's Ratings was selected by the APAC judging panel as the winner of the ESG second party opinion provider award with one identifying it as “a key player in the ESG ecosystem”.

Another of the judges said: “ESG second opinion rating plays an important assurance role for investors. This has a market making impact.”

As global market demand for independent opinions on the credentials of labelled green, social, sustainability and sustainability-linked debt issuance continues to grow, Moody’s has enhanced and expanded its capabilities.

In October 2022, Moody’s published a framework to provide second party opinions (SPOs) on all of these issuance categories.

This assessment framework explains the general approach taken by Moody’s Ratings in providing SPOs on green, social and sustainability financial instruments (e.g., bonds or loans) or financing frameworks following either a use of proceeds or sustainability-linked approach.

The Moody’s Ratings SPO also provides a score that indicates its opinion of the overall sustainability quality of the financial instrument or financing framework on a 5-point scale, providing investors with a consistent and granular standard for comparison across sectors and regions.

The submission states: “The growth of our proprietary SPO offering will strongly position the agency to meet market participant needs for rigorous, consistent, and independent analysis of the sustainability credentials of labelled debt.”

In its submission, Moody’s identifies its work with the Tokyo Metropolitan Government (TMG) as a key development from during the judging period.

Moody’s on 28 August (2024) assigned a SQS2 sustainability quality score (very good) to the TMG's sustainability bond framework. The issuer has established its use-of-proceeds framework to finance projects across 2 eligible green categories and 3 eligible social categories.

TMG is the administrative body of the Tokyo metropolis, the capital of Japan. TMG formulated its sustainability strategy Future of Tokyo: Tokyo's Long-Term Strategy in March 2021.

The strategy encompasses environmental and social (E&S) issues facing the metropolis such as climate change mitigation and adaptation, biodiversity preservation, natural disasters, and aging society and declining birthrate.

Additionally, TMG has also formulated its environmental strategy Environmental Master Plan, with the aim of achieving net zero by 2050, and has set several environmental targets to be achieved by 2030.

Moody’s also worked with State Power Investment Corporation (SPIC) and in October (2024) assigned a SQS2 sustainability quality score to its green finance framework.

SPIC has established its use-of-proceeds framework with the aim of financing projects across eight eligible green categories.

It one of China's Big Five central government-owned power producers, 90% owned by the state-owned Assets Administration and Supervision Commission, and 10% by Social Security Funds.

The company's operations include power generation, heating, coal mining and aluminium smelting.

 

ESG Consultancy

InCorp Advisory

InCorp Advisory was chosen by the APAC judges to win the ESG consultancy award based on what one judge described as having “demonstrated clear results with clients' success stories”.

One of the judges added: “InCorp has provided advice to corporates that is valuable in building know how in this area.”

And another added: “It is good to see some corporates leveraging on the advisory and framework done. This market is crowded and thus innovation remains key – even on advisory side.”

InCorp has developed an innovative methodology to clearly define the boundaries of a company’s operations that cover entire portfolios.

This approach allows it to help clients calculate accurate, pan-India emissions and assess their overall environmental impact, providing a comprehensive view of their sustainability efforts.

In addition to this, InCorp has built a specialised service line dedicated to supporting both listed and unlisted companies in the energy and infrastructure sector in India.

The submission states: “Our well-defined service portfolio helps these companies adopt ESG principles and best practices, regardless of their scale or complexity.

“We offer end-to-end ESG services, starting with building capabilities at the senior leadership level. We help leaders set up strong ESG governance frameworks, adopt policies, and implement governance structures.

“Our process includes conducting a thorough materiality assessment to define KPIs and setting measurable ESG targets.

“To further assist in their sustainability journey, our dedicated environmental team conducts lifecycle assessments (LCAs) of infrastructure projects and provides expert support in adopting decarbonization strategies.

“By offering a comprehensive, hands-on approach, we enable infrastructure and energy companies to adopt ESG principles from the ground up, making their operations more sustainable and aligned with global standards.”

In its submission, InCorp points to having partnered with infra company Afcons to guide it through the adoption of ESG practices.

The award winner states: “Our first step was conducting a materiality assessment, identifying the most relevant ESG risks and opportunities for the company.

“We then worked closely with Afcons to define KPIs aligned with their sustainability goals, laying the foundation for transparent and measurable ESG performance.

“Our team also published Afcons’ first ESG report, which was a critical asset during the company’s listing process. The report demonstrated the company’s commitment to sustainability and showcased its ESG potential to investors.

“Notably, this report was instrumental in Afcons successfully raising a sustainability-linked loan with our advisory, marking a significant step in their ESG journey.

“We are currently working with Afcons on their second ESG report, which highlights their green portfolio in alignment with London Stock Exchange guidelines.

“This ongoing partnership reflects InCorp’s commitment to driving sustainability in the infrastructure sector, helping Afcons not only meet regulatory requirements but also establish itself as a leader in ESG performance.”

 

Environment Award

The Private Infrastructure Development Group

The Private Infrastructure Development Group (PIDG) was chosen by the independent panel of judges to win the environment trophy at the IJGlobal ESG Award 2025.

One of the judges said that PIDG had “proven and repeated track history of success in ESG transactions” while another said its submission “demonstrates tangible impact on the environment” and yet another celebrated that “ESG aspects are demonstrated in processes and case studies”.

PIDG is an innovative infrastructure developer and investor that mobilises private investment in sustainable and inclusive infrastructure in Africa and Asia.

It works with public and private partners to bridge financing gaps, directing capital and expertise into projects that promote climate resilience and sustainable growth.

Uniquely working throughout the project lifestyle, its range of solutions – technical assistance, project development, debt and guarantee solutions – are designed to reduce financial risk, transform markets, and build local capacity.

PIDG last year (2024) implemented the strategic decision to integrate its project development offerings in Africa and Asia (InfraCo) and the further insourcing of its guarantee solution (GuarantCo) is in play. Meanwhile its Emerging Africa and Asia Infrastructure Fund expanded its mandate into Asia.

The submission states: “Working more closely together will help us unlock greater potential, mitigate risks more effectively and ultimately deliver more transformative infrastructure solutions. Integration will expand our capacity to deliver blended finance at scale.

“Our role in blended finance was recognised in a recent industry report by Convergence, with PIDG having the greatest number of commitments in climate blended finance deals in 2023-24.”

PIDG’s Sustainability and Impact Report 2024 charts a total global investment commitment of $5.5 billion mobilised by the organisation into critical sustainable infrastructure projects.

Combined these projects have provided 5.7 million people with access to improved infrastructure. They will also provide 4,920 short-term and 11,798 long-term jobs.

Furthermore, 64% of commitments were classified as climate finance, with a focus on both mitigation and adaption, and 72% contributed to gender equality outcomes.

PIDG achieved financial close on 25 projects, 15 of which were in the least developed countries or fragile and conflict affected states, highlighting its focus on the most challenging environments to maximise ESG impact within the energy and infrastructure sectors.

In its submission, PIDG draws attention to its June (2025) $12 million investment in Greenpower Rooftop Solar, a renewable energy platform to deploy rooftop solar on public building across Sri Lanka.

PIDG’s investment will contribute towards scaling the platform to up to 190MWp of rooftop solar capacity, avoiding over 100,000 tCO2e per year. It is expected to support the creation of over 180 jobs in construction and operations.

The combined equity investments from PIDG, Norfund and Volta Groupe is expected to mobilise up to $57 million in private sector financing as Sri Lanka rebuilds its energy infrastructure. This is at a time when access to capital remains constrained, and investor confidence is gradually returning.

The investment enables Greenpower SL to double its rooftop solar portfolio and will support the exploration of new technologies such as energy storage and nature-based solutions that will enhance the solar installations.

PIDG also references the AquaOne Water Treatment Plant in Vietnam which closed in December (2024) and where it provided a $47 million guarantee for the issue of a landmark 20-year green bond to finance a greenfield water treatment and supply system.

This project is Vietnam’s first verified green project bond in the water sector, and the longest-tenor project bond issuance in the country to-date.

The project will be operational by early 2026 supplying 150,000 cbm/day of clean water, improving access for 53,000 people.

This project represents a key step in the Vietnamese government’s efforts to transition away from groundwater sources, the overextraction of which has become environmentally harmful.

By using river water, the project is also ensuring a higher quality of water, which will positively impact public health.

Water projects are notoriously challenging – even in developed markets; there have been limited instances of international debt financings for water projects in Vietnam, with prior instances being structured on a corporate and/or concessional basis.

This transaction is notable in establishing international project financing standards within the water sector locally.

This pioneering project will encourage market replication by demonstrating the viability of bond transactions as a mechanism of channelling long-term private capital towards the water sector.

 

Social Award

Horana Plantations PLC

Horana Plantations PLC (HPL) – one of Sri Lanka’s premier plantation companies that has diversified into a broad-based agribusiness – was chosen by the independent panel of judges to win the ESG social award.

One of the judges lauded HPL for having “clearly demonstrated impact on environmental and social aspects in processes and policies” while another said it had been involved in “impact focused projects”.

The judges celebrated “measurable impact from the company” with one pointing out that its “REGROW project showcases ‘resilience’ as an ancillary impact well factored into the equation”.

Over the course of the judging period, HPL adopted a comprehensive ESG strategy that integrates renewable energy, biodiversity, sustainable infrastructure, and community development.

The company expanded its clean energy initiatives by installing 29 rooftop solar systems and enhancing mini-hydropower plants, supplying both operational needs and surplus to the national grid.

HPL also achieved Carbon Neutral Certification for 2 tea factories – Gouravilla and Alton – and partnered with PLANBOO to produce biochar for carbon sequestration.

It became the first Sri Lankan plantation company to comply with the EU Deforestation Regulation, emphasising traceability and sustainable land use.

Environmental conservation efforts included the launch of a wildlife corridor to protect endemic species and planting over 10,000 native trees.

Water security was addressed through the construction of 24 rainwater harvesting ponds, while soil health was improved using vermi-compost, biochar, and trials of eco-friendly farming technologies.

Socially, HPL focused on worker well-being with its Safe Haven housing project and the She-Essentia programme, which supports women’s health, education, and economic empowerment.

On the governance front, HPL established an ESG steering committee and aligned with global frameworks like the UN Global Compact and Science-Based Targets initiative.

The company has received multiple international certifications and awards for its sustainability performance.

These efforts demonstrate HPL’s commitment to integrating environmental stewardship with socially inclusive and resilient infrastructure development.

Their innovative approach positions them as a leader in sustainable agribusiness, offering a replicable model for ESG advancement in the energy and infrastructure sectors.

HPL launched the REGROW project – reforestation, ecosystem restoration, and green operations for a water-secure future – as a transformative environmental initiative aimed at restoring degraded ecosystems, enhancing biodiversity, and strengthening climate resilience across its estate network.

The project aligns with HPL’s broader ESG roadmap and commitment to sustainable land stewardship.

REGROW focused on regenerating 155 hectares of degraded land across key plantation sites. More than 5,300 native trees were planted under scientifically guided reforestation plans that prioritised endemic, climate-resilient species to support biodiversity corridors and improve soil stability.

One of the project's flagship efforts was the development of the Peak-Ridge Leopard Corridor, a pioneering 9.5km habitat link that reconnects fragmented forest areas, ensuring safe movement for wildlife including Sri Lanka’s endangered leopards.

Local youth and estate workers were trained and employed in tree planting, nursery management, and environmental monitoring.

REGROW not only revitalised ecosystems but also created green jobs and fostered a culture of environmental ownership.

The project stands as a replicable model for integrating ecological restoration with social and economic sustainability.