MANILA, Philippines - Manila Water Co. has been chosen as one of the 16 “most environmentally aware” companies in the developing world.
The Ayala-led water firm was cited for being among the best in showing how to grow as a business while at the same time actively tackling environmental and social challenges.
The study by the World Economic Forum (WEF), which made the report after looking at 1,000 companies in the developing world along with its co-author, the management consultant Boston Consulting Group (BCG), said that the 16 companies demonstrated “superior industry performance and operational efficiency,” innovating to overcome the real constraints that they face.
“They proactively engage with all stakeholder groups and positively influence their environments,” Knut Haanaes, a BCG partner, said.
“As a result, they generate steady profitable growth and are role models for their regions and industries.”
The only water and wastewater service company on the list, Manila Water joins Asian companies Broad Group (manufacturing), Zhangzidao Fishery (agriculture) and Suntech (renewable energy) of the People’s Republic of China; Jan Irrigation Systems (manufacturing), Shree Cement (cement) and Suzlon (renewable energy) of India, and MTR Corp. (transportation) of Hong Kong SAR on the roster of “16 New Sustainability Champions.”
Others on the list are Brazil’s Grupo Balbo (sugar production) and Natura (cosmetics), Chile’s Masisa (forestry/manufacturing), Costa Rica’s Florida Ice and Farm (food and beverages), Egypt’s Sekem (agriculture), Kenya’s Equity Bank (financial services), Papua New Guinea’s New Britain Palm Oil (agriculture), and South Africa’s Woolworths (retail).
Manila Water was highlighted in the New Sustainability Champions report as the only Filipino firm and water service company that was using community partnerships, watershed management, and flexible payment options to boost access to clean water.
The report cited the efforts of Metro Manila’s East Zone concessionaire in bringing down the level of non-revenue water (NRW) or water loss from 63 percent in 1997 to 12 percent by the end of 2010, which was achieved partly by providing affordable water to low-income areas, in the process turning NRW perpetrators into partners who now prevent illegal tapping into the water distribution network.
The WEF and BCG looked at 1,000 companies in the developing world to find out which particular company provided unconventional and practical solutions to the challenges of growth and support key business practices.