- UEP Penonomé II confirms its commitment to continue aligning its business and operational strategy to the ten principles of the Global Compact, universally accepted in four themes: Human Rights, Labor Standards, Environment and the fight against Corruption, Joining the UN with a focus on the achievement of 4 of the Millennium Development Goals
- UEP Penonomé II focuses its social investment on the following millennium goals: Affordable and non-polluting energy, Quality Education, climate action and the protection of terrestrial life and ecosystems
Panama, September 14, 2016.- UEP Penonomé II, Laudato Si’ Wind Farm, the largest in Central America and the Caribbean signed the Global Compact, an initiative of the United Nations that promotes the commitment of the private sector, public sector and society Civil society to guide its strategies and operations towards the fulfillment of the ten principles universally accepted in four thematic areas: human rights, labor standards, environment and anti-corruption, focusing its efforts on the achievement of 4 of the Millennium Development Goals .
The Global Compact is considered a framework of action that facilitates the social legitimacy of businesses and markets. Those organizations that adhere to the Global Compact share the conviction that business practices based on universal principles contribute to the creation of a more stable, equitable and inclusive global market and that it fosters more prosperous societies. This firm is part of the agenda of UEP Penonomé II, as a socially responsible company.
From the outset, UEP Penonomé II encourages and promotes effective partnerships in the public-private sphere and focuses its social investment on the following Sustainable Development objectives: Affordable and Clean Energy, Quality Education, Climate Action and The protection of terrestrial life and ecosystems.
With the aim of diversifying Panamanian energy matrix and generating affordable and non-polluting energy, the Laudato Si’ Wind Farm of UEP Penonomé II has 86 wind turbines operating with capacity to supply clean electric energy to more than 150 thousand Panamanian families, with a saving of 88 million dollars in operating costs of the Panamanian Electrical System per year. This park will avoid the emission of more than 450 thousand tons of carbon to the environment, and will mitigate the emission of 1,000 tons of nitrogen oxide and 500 tons of sulfur dioxide, with the reduction of approximately 900 thousand barrels of oil per year.
Within its sustainable business management, UEP Penonomé II carries out a social investment oriented to the generation of culture around climate change through actions such as the formation of a group of middle school students, called “Clean Energy Ambassadors” , Through dynamic activities and interaction with the community of Penonomé, as well as environmental protection actions, with special attention to recycling.
As for the public – private alliance, the Laudato Si Wind Farm is a major effort to support the community focused on the monitoring of the water sources that supply them, in the reforestation “Sowing 1 million Hectares” in the Construction of classrooms as part of the “My First School” program.
Currently, Global compact has a presence in more than 130 countries and has approximately 12,900 organizations adhered to in the world, for this reason, it is the largest corporate citizenship initiative in the world.