Aboitiz gears towards improving performance-based ESG measures
As the Aboitiz Group faces a new century of its business transformation in the ASEAN region, the company embarked on redefining its #OneAboitiz Sustainability Framework and its transition toward a performance–based approach in tackling environmental, social, and governance (ESG) topics of the company.
The Group operates in critical industries; thus, it recognizes its unique responsibility to its stakeholders to deliver products and services as an inclusive business to create opportunities and develop its partner communities across the country.
The Aboitiz Group’s sustainability initiatives and their key performance indicators highlight the organization’s contribution to poverty reduction, education, climate change, responsible consumption, providing decent work, disaster preparedness, technological innovation, and institutional partnership.
“For our part, we will continue our efforts to promote a balance between economic, societal, and environmental stewardship, and uphold our responsibility to our stakeholders by continuously improving our ESG performance, ” said Aboitiz Group President and CEO Sabin M. Aboitiz.
Nowadays, most international and domestic public companies are being evaluated on their ESG performance by various third-party providers with reports and ratings. Institutional investors, asset managers, financial institutions, and other stakeholders are increasingly relying on these reports to assess and measure companies’ ESG performance over time.
This year, Aboitiz Equity Ventures, Inc. (AEV), Aboitiz Power Corp. (AboitizPower), and Union Bank of the Philippines (UnionBank) are among the top-ranked companies of Philippine constituents. AEV continues to be recognized as an S&P Global Corporate Sustainability Assessment (CSA) constituent company and scored 29% higher with a positive 10 points year-on-year increase that placed the company in the 81st percentile rank in the industrial conglomerates sector, up from its 66th percentile ranking in 2020. AboitizPower and UnionBank also increased their assessment performance, with the former in the 67th percentile rank for the Electric Utilities Sector, and the latter in the 62nd percentile for the Banking Sector.
The S&P Global Assessment looks at a company’s value drivers and practices in Corporate Governance, Economic, Environmental, and Social dimensions. “The S&P sustainability scores are a validation of the substance and progress of our initiatives in this area,” Aboitiz noted.
Sharing best practices, strengthening partnerships, and joining multi-sectoral conversations on building capacities to improve ESG performance are all part of the Group’s strategy to make transformational progress on its sustainability journey.
On December 6, AEV Chief Financial Officer Manuel Lozano will serve as one of the panelists of the Philippine Stock Exchange (PSE) and Security Exchange Commission’s (SEC) Sustainability Showcase of Notable ESG Projects, where he will share the company’s initiatives and the #OneAboitiz Sustainability Journey. The event is part of the PSE-SEC’s overall ESG Program to engage and connect with various stakeholders towards achieving shared sustainable development goals.
The Aboitiz Group recently launched its #OneAboitiz Sustainability microsite (https://sustainability.
The microsite contains a comprehensive source of information on the company’s approach to sustainability, climate strategy, environmental practices and solutions, workforce development programs, and the unique Corporate Social Responsibility (CSR) initiatives of the Group towards inclusive growth.
AEV, AboitizPower, and UnionBank are among the top-ranked companies among Philippine constituents in S&P’s Global Corporate Sustainability Assessment. Its commitment to #OneAboitizSustainability continues as it delivers its promise of advancing business and communities.