GLOBAL GOALS

Maynilad’s sustainability reporting among best in Asia

DT · Apr 15, 2024, 5:10 AM

MAYNILAD’S head of Quality, Sustainability and Resiliency Atty. Roel S. Espiritu (center) proudly shows the 2023 ASRA Bronze award, flanked by Sustainability head Engr. John Emmanuel Martinez and QSR officer Apple Joy Albero. — PHOTOGRAPH COURTESY OF MAYNILAD

Maynilad Water Services Inc. (Maynilad), the largest private water concessionaire in the Philippines in terms of customer base, adheres to the United Nations Sustainable Development Goals and its actions towards these global objectives are recorded in its annual sustainability report. The report gives a comprehensive view of the company’s sustainability strategies and works, which is quite impressive that it earned accolades from an international awarding body for such literature.

The water concessionaire for Metro Manila’s West Zone was conferred a Bronze award under the “Asia’s Best Sustainability Report — Private Company” category in the 9th Asia Sustainability Reporting Awards (ASRA). The award reinforces Maynilad’s commitment to high quality reporting of its sustainability performance and its progress in addressing key sustainability issues.

“This recognition is a major accomplishment for companies like Maynilad that focus on sustainable growth. We aim for transparency in disclosing our social, governance and environmental performance, and this award confirms that we are on the right track,” said Maynilad’s chief sustainability officer Atty. Roel S. Espiritu.

Sustainability reporting enables companies to assess and communicate their sustainability performance, manage risks, build trust with stakeholders, and align their business strategies with stakeholder expectations. High quality sustainability disclosures not only provide a competitive advantage but also contribute to improved financial outcomes and broader access to capital.

Rajesh Chhabara, founder of ASRA and managing director of CSWorks, said that Maynilad’s sustainability report “sets a benchmark in transparently reporting the management of significant sustainability impacts, risks, and opportunities.”

ASRA recognizes the best in sustainability reporting, promoting transparency and accountability in business practices. The 9th year of ASRA garnered participants from leading companies from 15 Asian nations. Winners are selected through rigorous evaluations, involving three rounds of assessment and reputation checks.