First Phl developer with SBTi validation

Ayala Land Inc. (ALI) has become the first listed property developer to secure a validation from the Science Based Targets Initiative (SBTi) for its near-term and net-zero greenhouse gas (GHG) emission reduction targets. 

ALI said on Friday that the development aligns with its global goal of limiting warming to 1.5°C, which is in line with the Paris Agreement and the UN-backed Race to Zero campaign.

By adhering to SBTi criteria, Ayala Land sets a benchmark for sustainability in the Philippine property sector. In its journey to net zero, it aims for transparency and accountability.

Ayala Land aims to achieve net-zero GHG emissions across its value chain by 2050. 

For near-term targets, it commits to reducing absolute Scope 1 and 2 GHG emissions by 42 percent by 2030 (from a 2021 base year) and Scope 3 GHG emissions by 29.4 percent within the same period. 

Long-term, the company targets a 90 percent reduction in both Scope 1 and 2, as well as Scope 3 GHG emissions by 2050.

In 2021, Ayala Land, alongside the Ayala Group, committed to Net Zero by 2050, completing a GHG inventory to establish its baseline. 

Net-zero roadmap

By the end of 2022, it had finalized a net-zero roadmap aligned with SBTi targets, developed with guidance from the South Pole Group.

Ayala Land has transitioned 91 percent of its commercial properties to renewable energy by 2023, with plans to further reduce emissions by adopting electric alternatives for service vehicles, converting backup generators to fuel cells, and using eco-friendly refrigerants.

Recognizing that 75 percent of its GHG emissions come from its supply chain, particularly construction materials, Ayala Land plans to work closely with partners to promote renewable energy and circular economy practices.