Business leaders crucial to transition to low-carbon society

The Climate Change Commission has stressed the importance of the business leaders' commitment to transform the country into a resilient, low-carbon society.

In a recent gathering of business leaders and policy experts for a roundtable discussion on corporate climate action, CCC Secretary Robert E.A. Borje said it is crucial for the sector "to scale up and deliver in a predictable manner, considering the moral imperative at stake—the lives, livelihoods, and future of our people."

The discussion revolved around the mutually reinforcing roles of both government and the private sector in achieving verifiable emission reduction goals.

Speaking at the discussion, Jaime Zobel Urquijo, Chief Sustainability Officer and Risk Officer at Ayala Corporation, highlighted the importance of metrics and baselining.

"We identify our baseline emissions on a yearly basis, and we are fortunate to have a net-zero commitment and a visionary leader in the person of the CEO of Ayala Corporation," he said.

Chaye Cabal Revilla, CFO and Chief Sustainability Officer at Metro Pacific Investments Corporation emphasized that "baselining and measurement" are both crucial to environmental stewardship plans.

"We had to set the tone from the top, formalize sustainability committees, and take stock of our strategy. We want to be net negative and fortify our environmental stewardship plans," she said.

As leaders, you cannot be sustainable as an organization if you, as an individual, do not buy it. As a woman leader, we also try to influence women's organizations to push for sustainable practices," Revilla added.

Leah Marie Ayeng, General Manager of Prestige Paper Products, said investing in more sustainable products will not only contribute to accelerating climate consciousness but also enhance the viability of enterprises.

"I believe that a responsible business is also a profitable business," she said.

Ted Monroy, Country Representative, United Nations Industrial Development Organization Country Office Philippines, said there's a need for the sector to focus on renewable energy and supporting local development, particularly since climate change has been affecting typhoon pathways in Mindanao.

"If there's no energy, there's no development," Monroy stressed.

Meanwhile, Horia Adrian, President and CEO of Holcim Philippines Inc., said there is a need to adopt sustainable solutions to climate change as it may consume a huge chunk of the planet by 2030

"Sustainability is very tangible because it affects the entire world. People should feel sustainability in their hearts. God gives you, but God does not put it in your pocket. We can provide the solution, but the solution has to be used," he said.

Further, Borje underscored the need for the government to craft policies that would urge environmental-friendly businesses, to protect the planet from the negative impacts of some businesses.

"There is no business on a dead planet. The bottom line is connected to sustainability and profitability. That is the paradigm shift we need to encourage," he said.

"What we need to do is scan the horizon and give it a climate change lens. We are learning that climate change is the governance challenge of our generation," he added.

At the conclusion of the discussion, the panelists unanimously agreed on the interconnectedness of sustainability, profitability, and societal well-being.

The discussions wrapped up with a call for collective business action, acknowledging the crucial role of corporates in driving an ambitious path towards a resilient and sustainable future.