Auckland, New Zealand – From February 12 to 14, Asia-Pacific business leaders of the APEC Business Advisory Council (ABAC) inaugurated their year-long journey of constructive collaboration to support a rapidly advancing and connected region. Held in Auckland, New Zealand, ABAC I was the first of four official ABAC meetings that will take place in 2023. The meetings will culminate in the commission of reports and the development of recommendations to be shared in a dialogue with APEC leaders and policymakers. This will ultimately lead to collective leadership and decisive action that will advance common goals for regional sustainability and economic inclusion.
Aboitiz Group President and Chief Executive Officer (CEO) and ABAC PH member Sabin Aboitiz holds the distinction of 2023 ABAC Sustainable Growth Working Group Vice Chair.
For ABAC I, Aboitiz presented on important sustainability topics, including decarbonization efforts with nuclear energy and the democratization of climate risk information. This kickstarted insightful and productive discussions amongst regional business leaders to develop comprehensive work plans for sustainable growth.
Aboitiz Group First Vice President and Chief Reputation & Sustainability Officer Ginggay Hontiveros delivered the presentations.
The presentation on nuclear energy looks at nuclear energy and small modular reactors (SMRs), not small molecular reactors, as viable zero-carbon energy. Beyond its decarbonization role, the ABAC Sustainable Growth Working Group recognizes nuclear energy’s viability to fuel the energy transformation of society given its high energy return on investment (EROI) and its weather independence. Aboitiz’s presentation provides insight into those opportunities and potential challenges. Research and technical development with key stakeholder groups and subject matter experts are paramount to the success of energy transformation.
The presentation on a climate risk information platform tackles the current gaps in information on climate risk scenarios between economies. ABAC recognizes the need to democratize this information. The climate threat is a shared risk and responsibility. A unified platform for free data on climate risk scenarios that helps one economy would help all.
Additionally, following the 2021 ABAC proposition to adopt and develop indicators to measure the social and economic progress achieved by APEC economies, ABAC is considering the ABAC PH proposal on the adoption of a living wage as an indicator. This would address structural inequalities within APEC economies.
Under the 2023 ABAC theme “Equity. Sustainability. Opportunity.”, these presentations lay the groundwork for ABAC as they plan further measures that will advance regional goals.
Representing ABAC PH in Auckland were Liveable Cities Challenge Chairman and ABAC PH member Guillermo Luz, Aboitiz Group Chief Reputation & Sustainability Officer Ginggay Hontiveros, and ABAC PH Lead Staffer Patrick Anthony Chua.
ABAC plays a crucial role in promoting sustainable business practices in the region. Aboitiz’s position as Vice Chair of the Sustainable Growth Working Group highlights the Aboitiz Group’s commitment to sustainability and its leadership in the field.
As the Aboitiz Group undergoes its Great Transformation to become the Philippines’ first Techglomerate, it embraces technology and a renewed entrepreneurial mindset to tackle challenges facing its communities. The regional role of Aboitiz in advocating and realizing sustainable growth through ABAC further demonstrates its commitment to making a positive difference in the world.
About Aboitiz Equity Ventures
Aboitiz Equity Ventures, Inc. (AEV) is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, land, and data science and artificial intelligence. Today, AEV is recognized as one of the best-managed companies in the Philippines and the region, consistently cited for its commitment to good corporate governance and corporate social responsibility. With five generations of Aboitiz Group business success behind it, AEV continues to drive change for a better world by advancing business and communities.
The Aboitiz Group is a member of the Global Compact Network Philippines Board of Trustees and helps champion the Philippines’ sustainability initiatives on an international level through policies, advocacies, and initiatives that align with the United Nations Global Compact (UNGC). The company has also launched its #OneAboitizSustainability Framework which aims to transform its life-essential businesses into having improved sustainable practices and a positive impact on the environment and society.
To know more about the #OneAboitizSustainability programs, please visit https://sustainability.aboitiz.com/.
