Bridges: What role does Century Pacific play in the dynamic Philippines food and beverage sector?
Po: “In a country where seventy to eighty percent of households belong to the low to middle-income socio-economic bracket, it is critical to have protein sources that are affordable and accessible to ensure food security.
We operate in three key segments: marine, meat and milk and our emerging businesses are in coconut, condiments, plant-based alternatives and pet food. In these segments, we designed a multi-brand portfolio that cuts across different price tiers, from value for money to affordable premium, to cater to varying consumer needs.
Over the years, our brands have become household names in the Philippines, market leaders and strong challengers. In marine and meat, our brands hold the lion’s share as category builders. While in milk, we are the number two player, earning our slice of the pie by democratizing milk consumption in the country.
Our growth story is strongly linked to our purpose: as we grow the business, so does the extent by which we are able to provide nutrition to Filipinos.”
What growth are you seeing in the company’s ‘branded business’ and exports segment?
“In the branded business, we have core segments Marine and Meat, where we are market leaders and tend to grow alongside the Philippine economy. The company has also been diversifying into new and emerging segments through innovation, categories such as Milk, Coconut, and Plant-based Alternatives, which can deliver faster growth. All these are underpinned by the strengthening of the Philippine middle class.
We likewise see a global opportunity for unMEAT, which is our entry into the developing plant-based alternatives category.
In OEM (original equipment manufacturer), we work with global brands and retailers to produce white label tuna and coconut products for export. The business complements our branded tuna and coconut segments.
Japan is currently one of our largest markets for tuna.”
How important are the company’s ESG (environmental, social and governance), CSR (corporate social responsibility) and sustainability initiatives in driving business?
“Sustainability is core to our mission and purpose as a company. More and more, our stakeholders – employees and consumers, especially the young ones, and the investing community – are patronizing brands that are aligned with their values. ESG is essential to our longevity as publicly listed company.”
We are a sustainable and responsible global company of entrepreneurs that nourishes and delights our consumers with healthier food and beverages through our manufacturing excellence, nutrition expertise, trusted brands, and passionate people. Essential to our strategy going forward is our sustainability and ability to balance the needs of all our stakeholders. We believe that sustainability, whether coming up with healthier products, taking care of our people and communities or being good stewards of our resources, is essential to our longevity. We believe our commitment to responsible business will change the complexion and character of our business in a good way and will future-proof our enterprise.” Chris Po and Ted Po.
“To balance the needs of our stakeholders, our sustainability framework consists of protein delivery, planet preservation, and people development. Each of these is aligned with the ‘United Nations Sustainable Development Goals’.”
– The launch of unMEAT, CNPF’s entry into plant-based alternatives to provide consumers with healthier and ‘better-for-the-planet’ food choices.
– Commitment to plastic neutrality. This allows CNPF to offset its plastic usage through a credit exchange platform. 2022 marks the third year of CNPF’s commitment, and today all its brands that make use of flexible packaging are certified plastic neutral.
– Renewable energy. In 2021, CNPF completed the commissioning of a 5.2mw Solar PV plant to serve fifteen percent of the energy requirements of its largest manufacturing hub. These facilities source sixty percent of their energy requirements from renewables and combine solar and hydroelectric.
– The Road to Carbon Neutrality. CNPF’s coconut division will become carbon neutral by 2028 through its initiative to plant one million coconut trees, which will sequester Greenhouse Gas Protocol (GHG). These trees are donated to smallholder coconut farmers, helping their farms become more productive and help to boost their income. In the long-term this initiative will help the company secure coconut supply.
– Leading in tuna sustainability. CNPF strongly advocates sustainable fishing practices and sits on the board of the International Seafood Sustainability Foundation to help shape current and future global fishing policies.