First Gen Integrated Report 2019

Value Creation

Value Creation Capitals

First Gen reports its strategy on how the Company utilizes its resources to continually create value over time. The value is affected by the organization’s inputs, activities, and outputs, and the critical interdependencies, and trade-offs between them, which are classified under capitals. Based on the <IR> Framework, the capitals are categorized and described as follows:


Sources of funds that are:
▷ available to an organization for use in the production of goods or the provision of services
▷ obtained through financing, such as debt, equity or grants, or generated through operations or investments


Manufactured physical resources material (as distinct from natural physical resources material) are resources available to an organization for use in the production of goods or the provision of services. This can include:
▷ buildings
▷ equipment
▷ infrastructure (such as roads, ports, bridges, and waste and water treatment plants)

Manufactured capital is often created by other organizations but can also include assets manufactured by the reporting organization for sale or when they are retained for its own use.


Organizational, knowledge-based intangibles, including:
▷ intellectual property such as patents, copyrights, software, rights and licenses
▷ “organizational capital” such as tacit knowledge, systems, procedures and protocols


People’s competencies, capabilities and experience, and their motivations to innovate, including their:
▷ alignment with and support for an organization’s governance framework, risk management approach, and ethical values
▷ ability to understand, develop and implement an organization’s strategy
▷ loyalties and motivations for improving processes, goods and services, including their ability to lead, manage, and collaborate


The institutions and the relationships within and between communities, stakeholder groups and other networks. This also includes the ability to share information to enhance individual and collective well-being. Social and relationship capital includes:
▷ shared norms, common values, and behaviors
▷ key stakeholder relationships, as well as the trust and willingness to engage that the organization has developed and strives to build and protect with external stakeholders
▷ intangibles associated with the brand and the reputation the organization has developed
▷ an organization’s social license to operate


All renewable and non-renewable environmental resources and processes that provide goods or services that support the organization’s past, current, or future prosperity. This includes:
▷ air, water, land, minerals and forests
▷ biodiversity and eco-system health