As the Aboitiz Group faces a new century of its business transformation in the Asean region, the company embarked on redefining its One Aboitiz Sustainability Framework and its transition toward a performance-based approach in tackling environmental, social and governance topics of the company.
The group operates in critical industries; thus, it recognizes its unique responsibility to its stakeholders to deliver products and services as an inclusive business to create opportunities and develop its partner communities across the country.
The Aboitiz Group’s sustainability initiatives and their key performance indicators highlight the organization’s contribution to poverty reduction, education, climate change, responsible consumption, providing decent work, disaster preparedness, technological innovation and institutional partnership.
“For our part, we will continue our efforts to promote a balance between economic, societal, and environmental stewardship, and uphold our responsibility to our stakeholders by continuously improving our ESG performance,” said Aboitiz Group president and CEO Sabin Aboitiz.
Nowadays, most international and domestic public companies are being evaluated on their ESG performance by various third-party providers with reports and ratings. Institutional investors, asset managers, financial institutions and other stakeholders are increasingly relying on these reports to assess and measure companies’ ESG performance over time.
This year, Aboitiz Equity Ventures, Aboitiz Power Corp. (AboitizPower) and Union Bank of the Philippines (UnionBank) are among the top-ranked companies of Philippine constituents. AEV continues to be recognized as an S&P Global Corporate Sustainability Assessment constituent company and scored 29 percent higher with a positive 10 points year-on-year increase that placed the company in the 81st percentile rank in the industrial conglomerates sector, up from its 66th percentile ranking in 2020.
AboitizPower and UnionBank also increased their assessment performance, with the former in the 67th percentile rank for the Electric Utilities Sector, and the latter in the 62nd percentile for the Banking Sector.
The S&P Global Assessment looks at a company’s value drivers and practices in corporate governance, economic, environmental and social dimensions.
Sharing best practices, strengthening partnerships, and joining multi-sectoral conversations on building capacities to improve ESG performance are all part of the group’s strategy to make transformational progress on its sustainability journey.