Carbon neutrality is achieved when carbon dioxide emissions released by any company’s operations are balanced with the amount of carbon dioxide they remove
Nursery nurtures life Megaworld has a plant nursery in Tanza, Cavite where the company grows most of the trees, shrubs and plants used in various townships.
Photograph courtesy of Megaworld
Giant developer Megaworld Corp. seeks to fully utilize renewable energy to power up all its office and mall properties by 2027.
In a stock exchange disclosure on Monday, Megaworld said it tapped MPower, a subsidiary of the Manila Electric Co., to support its transition journey in the next three years.
The plan is part of the entire Megaworld Group’s overall strategy to become carbon neutral by 2035 and net zero by 2050.
To date, Megaworld said at least 52 fully operational office and mall properties across its townships nationwide have already achieved carbon neutrality.
Carbon neutrality is achieved when carbon dioxide emissions released by any company’s operations are balanced with the amount of carbon dioxide they remove.
Carbon forests raised
“In the next few years, we will be able to activate over 1,000 hectares of carbon forests in Batangas, Cavite, Tarlac, Iloilo, Palawan and Cebu.
“This is our way of continuing to champion our commitment to helping build a greener and cleaner future for everyone,” Megaworld head of Sustainability Jose Arnulfo Batac said.
Based on data compiled by Megaworld in partnership with Diligent, a leader in governance, risk, and compliance, its gross carbon emissions from operational Megaworld-owned properties reached 69,000 metric tons in 2023.
Of this, 98 percent came from electricity consumption (Scope 2), while the rest were from fuel consumption (Scope 1).
Last year, 51 percent of the recorded emissions came from Megaworld-owned mall developments while the remaining 49 percent was from its office properties.
Since 2021, Megaworld has already planted around 100,000 trees inside its dedicated carbon forests across the country.
With the company’s recent move to begin tapping renewable energy as a power source, Megaworld was able to offset about 36,000 metric tons of carbon emissions during the previous year.
The company also supported carbon offsetting projects certified by Verra, the world’s biggest certifier of voluntary carbon offsets.
Housing is probably the biggest issue affecting people the world over.
Malacañang on Monday called for a more thorough investigation into the questioned flood control projects in Taguig…
The defense on Monday backed the move by senator-judges to exclude a prosecution witness who testified on the firearms…
