Ayala Corp. edged out other local conglomerates in terms of “environmental action” after receiving the highest rating from United Kingdom-based Carbon Disclosure Project (CDP), a statement showed.
CDP, which was founded in 2000, is a prominent and influential voice in urging corporations to disclose their environmental impact.
“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 climateaction,” said Albert de Larrazabal, Ayala chief financial, sustainability, and risk management officer.
“These not only prove our strong commitment to protecting the environment but also our strong adherence to the highest standards of disclosure,” he added.
Ayala said it also received a “B rating” which was higher than Asia’s regional average of “C.”
Based on the CDP report, Ayala received “very high scores in the areas of governance, opportunity disclosure, and risk management processes.”
Ayala Land also maintained its A- rating. This was above other real estate companies in the Philippines.
Telecommunications subsidiary Globe Telecom maintained its B rating, the statement showed.
Lending arm Bank of the Philippine Islands and renewable energy subsidiary ACEN Corp. received scores at par with the Asia regional average, with BPI besting other Philippine banks.
In 2021, Ayala became the first Philippine company to commit to a net zero target by 2050,
aligning its business strategy with the Paris Agreement’s goal of limiting global warming to 1.5°C compared to pre-industrial levels.
CDP is the world’s largest, most comprehensive dataset on environmental action. This covers more than 680 investors with over $130 trillion in assets.
“The insights that CDP holds empower investors, companies, cities, and national and regional governments to make the right choices today to build a thriving economy that works for people and planet in the long term,” Ayala said in the statement.
“According to CDP, a record-breaking 18,700+ companies representing half of global market capitalization disclosed through CDP in 2022 – 42 percent more than last year, and over 233 percent more than when the Paris Agreement was signed in 2015,” it added.