AYALA CORP. received the highest rating from the United Kingdom-based Carbon Disclosure Project (CDP), which measures a company’s disclosure and environmental performance.
“We’re very happy with the scores Ayala and its business units received from the CDP. These scores play an important role in keeping our companies on track when it comes to climate action,” Ayala Chief Financial, Sustainability, and Risk Management Officer Alberto M. de Larrazabal said in a media release on Tuesday.
Ayala received a “B” score, which indicates that it has addressed the environmental impact of its business and that it has ensured good environmental management. Its rating is higher than the regional average rating of “C” in Asia, the company said.
“These not only prove our strong commitment to protecting the environment but also our strong adherence to the highest standards of disclosure,” Mr. De Larrazabal said.
Ayala subsidiaries also got high ratings from CDP, with Ayala Land, Inc. maintaining its “A-” rating, which is said to be the highest among real estate companies in the Philippines, and Globe Telecom, Inc. keeping its “B” rating.
An “A” score means that the organization showed environmental leadership, disclosing action on climate change, deforestation or water security, and demonstrated best practices in strategy and action as recognized by sustainability frameworks.
Bank of the Philippine Islands and ACEN Corp. also received scores at par with the regional average, with the banking unit said to be topping other Philippine banks.
Ayala committed to a net zero target by 2050 as it aligns its business strategy with the Paris Agreement’s goal of limiting global warming to pre-industrial levels.
CDP reached a record-breaking number of respondents in 2022 with over 18,700 companies participating, said Ayala.
This is 42% higher than last year and represents half of the global market capitalization. It is also over 233% higher than the number of participants when the Paris Agreement was signed in 2015, it said.
Over 680 investors with over $130 trillion in assets requested companies disclose through CDP on climate change, water security, and forests. — Justine Irish DP. Tabile