MANILA, Philippines - The property development arm of the Ayala Group is going green in a major move to meet its corporate sustainability targets.
Ayala Land Inc. announced recently its aggressive plan to reduce greenhouse gas (GHG) emissions in its commercial properties and aim for carbon neutrality by 2022.
ALI chairman Fernando Zobel de Ayala said it’s not all profits for ALI, but sustainability and inclusive growth too.
“As we execute and accomplish our plans, we firmly believe that our company’s success and growth cannot be measured solely in terms of profitability and market presence. We are mindful of our corporate sustainability targets and our efforts to set new goals, such as carbon neutrality, affirm our commitment to sustainable and inclusive growth,” Zobel said.
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He said the company plans to embark on various initiatives that include passive cooling design, energy efficiency, renewable energy sourcing, and carbon offset mechanisms such as forest regeneration and protection.
Due to its efforts toward sustainability and reduction of carbon emissions, ALI made it to The Sustainability Yearbook 2017, the most comprehensive publication on corporate sustainability produced by Swiss international investment company RobecoSAM. It is the only Philippine company included in the prestigious publication.
ALI president and CEO Bernard Vincent Dy said the company has taken a proactive stance in becoming more energy efficient.
“For more than six years now, we have been tracking our greenhouse gas emissions and undertaking energy-efficiency improvements in our properties to reduce the company’s carbon footprint. We are taking this a step further through our carbon neutrality initiatives,” he said.
In fact, ALI has formed multidisciplinary teams within the company to implement targeted eco-efficiency approaches and enhance GHG accounting capacities.
In order to substantially reduce controllable emissions in ALI’s developments nationwide, it has integrated natural cooling and energy saving measures into the planning and design of its projects while emissions are continually reduced through retrofits, redevelopment and other interventions in operating properties.
Dy said with ALI’s presence in 55 growth areas across the country and a total 20 sustainable estates, its commitment to aim for net-zero carbon emissions by 2022 can contribute to the reduction of overall country emissions.
“We believe Ayala Land is in a unique position to initiate this program given the growth, diversity and geographical reach of our businesses. We see this as a means to create long-term value for all our stakeholders and an opportunity to highlight the importance of building and operating sustainable developments in the country,” he said.
The Philippines’ ranking in the Germanwatch Global Climate Risk Index 2017 has improved one notch among countries most vulnerable to climate change, but it is still ranked fifth based on the impact of extreme weather events over the past 20 years. GHG emissions from human activities have been linked to climate change indicators and the mitigation of such emissions has been a global undertaking since the 2016 Paris Agreement of the United Nations Framework Convention on Climate Change.