Ayala Corp. on Tuesday said it received the highest rating among the local conglomerates from the United Kingdom-based Carbon Disclosure Project (CDP).
This year, Ayala received a B rating, higher than the Asia regional average of C. Based on the report from CDP—the world’s largest, most comprehensive dataset on environmental action—Ayala received very high scores in the areas of governance, opportunity disclosure and risk management processes.
Ayala Land Inc., its property development unit, also maintained its A-rating, besting other real estate companies in the Philippines. Globe Telecom Inc., the mobile phone operator, maintained its B rating. Meanwhile, both Bank of the Philippine Islands and ACEN Corp. received scores on a 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 Albert de Larrazabal, Ayala’s 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.”
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+ companies representing half of global market capitalization disclosed through CDP in 2022, some 42 percent more than last year, and over 233 percent more than when the Paris Agreement was signed in 2015.