Ayala Corporation received the highest rating, among Philippine conglomerates, from UK-based Carbon Disclosure Project (CDP)—the world’s largest, most comprehensive dataset on environmental action.
In a statement, Ayala said it received a B rating this year, higher than the Asia 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.
Subsidiary Ayala Land Inc. also maintained its A- rating, besting other real estate companies in the Philippines.
Globe Telecom maintained its B rating as well, while both Bank of the Philippine Islands and ACEN received scores at par with the Asia regional average, with BPI besting other Philippine banks.
“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,” said Ayala Chief Financial, Sustainability, and Risk Management Officer Albert de Larrazabal.
He added that, “These not only prove our strong commitment to protecting the environment but also our strong adherence to the highest standards of disclosure.”
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.
Founded in 2000, CDP was the first platform to leverage investor pressure to influence corporate disclosure on environmental impact.
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.
According to CDP, a record-breaking 18,700–plus 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.
Over 680 investors with over $130 trillion in assets requested companies disclose through CDP on climate change, water security, and forests.
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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