METRO Pacific Investments Corp. (MPIC) and its unit Manila Electric Co. (Meralco) are expanding their sustainability targets, including adhering to global standards and shifting to cleaner technology.
Expansion targets of the companies’ sustainability agenda were shared with participants of a recent virtual forum on multi-sector integration through environmental, social, and governance (ESG) principles for green economic recovery.
The online event was organized by Stratbase Albert del Rosario Institute (ADRi) in partnership with the Philippine Business for Environmental Stewardship (PBEST).
June Cheryl Cabal-Revilla, chief finance and chief sustainability officer of MPIC, said: “Our mantra is sustainability more than just compliance, and we’ve been putting this in all the things that we do. We’ve up the ante and we’ve actually committed to adhere to global sustainability standards and frameworks.”
Raymond B. Ravelo, Meralco vice-president and chief sustainability officer, said the power distribution utility had started to gain momentum towards “cleaner and greener energy.”
The forum gathered environment advocates from the government, business groups and civil society, which sought stronger collaboration between the public and private sectors in addressing climate change and urgent environmental issues.
“In the next five years, we look to ‘greenify’ our supply portfolio by securing 1,500 megawatts (MW) of clean energy contracts. As well through our company MGreen, which is our platform for investments in the renewable energy space, we will build 1,500 MW also in renewable energy projects through 2027,” Mr. Ravelo said.
Meanwhile, Ms. Cabal-Revilla said that in terms of MPIC’s carbon footprint, “we’ve stayed flat at 460 metric tons.”
“For PLDT, we’ve done marine protection, mangos preservation, and reforestation as nature is the foundation for economic growth. It is our responsibility to restore and manage the natural resources that we have,” she added.
Dr. Carlos Primo David (PhD), PBEST convenor, encouraged the private sector to expand their sustainability efforts, work with the government, and directly address the sustainability of the country and the planet.
Ludwig Federigan, executive director of the Young Environmental Forum, said, “CSOs and NGOs play a major role in key areas such as information collection, dissemination, and analysis, policy development consultation, policy implementation, and lastly, assessment and monitoring.”
Renato Redentor Constantino, executive director of the Institute for Climate and Sustainable Cities, said: “Climate issue is the biggest that we have ever faced. But it is also equally important for the people to address challenges related to poverty, health, jobs, and hunger.”
ADRi President Dindo C. Manhit said that the government, “with the help of civil society’s lenses, should set the much-needed responsive policies and frameworks that are conducive to doing business while ensuring compliance with ESG principles.”