Conglomerate Ayala Corp. said Wednesday it received the highest rating from UK-based Carbon Disclosure Project—a global non-profit group that runs the global environmental disclosure system.
Ayala said in a statement it received a B rating, higher than the Asia regional average of C, as it obtained very high scores in the areas of governance, opportunity disclosure and risk management processes.
“We’re very happy with the scores Ayala and its business units received from the CDP. These scores play an important role in keeping our companies on track when it comes to climate action,” said Ayala chief financial, sustainability and risk management officer Albert de Larrazabal.
“These not only prove our strong commitment to protecting the environment but also our strong adherence to the highest standards of disclosure,” he said.
Ayala’s major subsidiaries also obtained high ratings from CDP. Ayala Land Inc. maintained its A- rating, besting other real estate companies in the Philippines, while Globe Telecom Inc. kept its B rating.
Both Bank of the Philippine Islands and AC Energy received scores at par with the Asia’s regional average, with BPI besting other Philippine banks.
Ayala became the first Philippine company in 2021 to commit to a net zero target by 2050, aligning its business strategy with the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius compared to pre-industrial levels.
Founded in 2000, CDP was the first platform to leverage investor pressure to influence corporate disclosure on environmental impact. The insights that CDP holds empower investors, companies, cities and national and regional governments to make the right choices today to build a thriving economy that works for people and planet in the long term.
According to CDP, a record-breaking 18,700+ companies representing half of global market capitalization disclosed through CDP in 2022. This was 42 percent higher than last year, and over 233 percent more than when the Paris Agreement was signed in 2015.
More than 680 investors with over $130 trillion in assets requested companies disclose through CDP on climate change, water security and forests.
