GCNP member companies share sustainability strategies, more

The Aboitiz Group recently shared its strategies for sustainability and good governance during a peer learning session organized by the United Nations Global Compact (UNGC) and its local chapter, the Global Compact Network Philippines (GCNP), where Aboitiz sits on the Board of Trustees.

The meeting, held at Ayala Tower 2 in Makati City, facilitated discussions among GCNP participant companies on corporate governance best practices, stakeholder engagement strategies, and integrating sustainability into organizational frameworks. Aboitiz co-leads the Prosperity Pillar with SM Investments Corporation, forming core focus groups of the GCNP alongside the People and Planet Pillars.

The Aboitiz Group promotes the Philippines’ sustainability initiatives internationally through policies and initiatives aligned with the UNGC. They aim to become the Philippines’ first "Techglomerate," a term describing a legacy conglomerate using technology, innovation, creativity, and a startup culture for transformation. The Aboitiz Foundation is also scaling its programs up to enact more change.

Learning session highlights

During the meeting, Aboitiz Equity Ventures (AEV) First Vice President and Chief Reputation and Sustainability Officer Ginggay Hontiveros-Malvar emphasized the importance of synergy in promoting sustainability across the group's culture and operations. She highlighted the role of high-impact leadership in balancing business growth with development initiatives in Aboitiz’s ESG (environmental, social, and governance) strategy.

“We have a good mix of leaders who are technically competent in terms of sustainability. At the same time we also have board members who are experts and are fully engaged in terms of developing an innovative culture. For us, it's not enough to have the right kind of governance structure for sustainability, but you also need to have the workplace culture that allows it to thrive so it can be embedded throughout the organization,” she said.

Yoly Crisanto, Co-lead of the Planet Pillar of GCNP and Chief Sustainability and Corporate Communications Officer of Globe Telecom, discussed Globe’s implementation of global sustainability frameworks and industry standards, emphasizing the role of top management in fostering a culture of sustainability.

“Having sustainability as our CEO’s priority was transformational because it became imperative across the organization. The culture of excellence and responsibility is fostered as employees work towards achieving sustainability targets anchored on international industry standards,” she said.

PLDT’s Sustainability Executive Rhea Dienzo, representing the Planet Pillar Lead, highlighted sustainability as a strategic pillar for the company, embedded in their framework through the Governance, Nomination and Sustainability Committee (GNSC).

“Our sustainability framework is anchored on PLDT’s purpose of inspiring innovation and meaningful connections through generations. It is embedded in our core principles through the Governance, Nomination and Sustainability Committee (GNSC), which provides oversight on policy making and ensures overall support and alignment with global standards and best practices,” Dienzo said.

Leah Marie Ayeng, CEO of Prestige Paper Products, shared practical approaches for incorporating sustainability into small and medium enterprises and discussed how crises like the COVID-19 pandemic can become an opportunity to innovate sustainable products and services.

“Environmental mindfulness is now ingrained in our business philosophy. We don’t simply sell beautiful paper products, but also sustainable packaging. We are challenged to evolve as our clients’ preferences shift towards greener materials that are not only durable but at the same time better for the environment,” Ayeng said.

Vanessa Hans, Private Sector Head of the Basel Institute on Governance, emphasized the need for a corporate governance framework that facilitates dialogue between a company, its shareholders, and stakeholders on sustainability.

“Peer learning among stakeholders should be encouraged, while silos within an organization should be avoided,” Hans said.

The session concluded with participants committing to further integrate sustainability into their business strategies, recognizing the importance of transparency, accountability, and stakeholder engagement.