The “techglomerate” in waiting takes the lead among Philippine peers to top S&P Global Corporate Sustainability Assessments
Aboitiz Equity Ventures, Inc. (AEV) continues to put sustainability front and center as it charges forward with its Great Transformation into the country’s first techglomerate — a supercharged redefinition of the Philippine conglomerate by technology, innovative thinking, and realistic sustainability.
In recognition of its strengthened sustainability efforts, AEV ranked first among Philippine companies in the Industrial Conglomerate Sector of the 2022 S&P Global Corporate Sustainability Assessments (CSA) for the second year in a row, and landed in the upper quartile among global peers in the same category. The S&P Assessments are an annual evaluation of companies’ sustainability practices, enabling them to benchmark their performance on a wide range of industry specific economic, governance, environmental, and social criteria.
The company saw notable score improvements driven by enhanced and accelerated ESG performance, as required by the Group’s reinvigorated values of integrity and responsibility. It also achieved maximum scores in two dozen critical criteria such as Environmental and Social Reporting, Risk Governance, and Climate Strategy. (Score date: September 23, 2022)
“We cannot overstate the fact that we are committed to a mindset that views sustainability not as a cost of doing business, but as a way of doing business. Sustainability is an integral part of our strategy of creating shared value with both our internal and external partners,” said Aboitiz Group President and CEO Sabin M. Aboitiz.
AEV scored highest in the “Economic and Governance” dimension with massive improvements in Materiality, Policy Influence, Supply Chain Management, and Innovation Management. It also outperformed its Philippine peers in the “Social” dimension by delivering marked improvements in Human Rights, Corporate Citizenship and Philanthropy, and Occupational Health and Safety.
Putting a premium on sustainability
Sustainability, in all its forms and meanings, remains at the heart of the Aboitiz Group’s Great Transformation. “Our north star on this journey is the responsibility to create strong, sustainable, and scalable impacts,” said AEV Chief Reputation and Sustainability Officer Ginggay Hontiveros. “We believe our business can be a vehicle for the positive change we want to see in Philippine business as a whole.”
Inclusivity is a main ingredient in the Group’s recipe for success in sustainability. Through regular materiality assessments, the company exerts great effort to make sure it is always attuned and aligned with the changing needs of its stakeholders. This enables the Group to create meaningful value with both internal and external stakeholders, and provides clear transparency in all levels of its value chain.
The company is also firmly committed to the health and safety of its employees and contractors through comprehensive and effective occupational wellbeing programs. Moreover, the United Nations (UN) Global Compact and its principles are embedded in the company’s strategy, culture, and day-to-day operations; including a wide variety of collaborative projects that advance the UN’s Sustainable Development Goals.
AEV’s innovative and thoughtful approach to sustainability all boils down to its brand promise of advancing business and communities. As the company grows, communities grow with it. Its philanthropy arm, Aboitiz Foundation Inc., has always been actively pursuant of impactful corporate social responsibility projects focused on education, enterprise and entrepreneur development, and the protection of the environment.
Moving forward, the company pledges to continue driving change by introducing game-changing innovations across its sustainability programs. The company’s ESG Working Group has promised an even more focused yet holistic approach towards the implementation and sharing of best practices across the entire Aboitiz Group.
As always, Aboitiz still believes they can do well by doing good — this means making the right long-term decisions that balance the interests of people, planet, and profit.
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, and land. Today, AEV is recognized as one of the best-managed companies in the Philippines and in 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 positively impact the environment and society. To know more about the #OneAboitizSustainability programs, please visit https://sustainability.aboitiz.com/.