AEV sustainability efforts get top global recognition

MANILA, Philippines — Cebu-based conglomerate Aboitiz Equity Ventures Inc. (AEV) has been recognized anew on a global scale for its sustainability efforts.

It ranked first in the Industrial Conglomerate Sector of the 2022 S&P Global Corporate Sustainability Assessment (CSA) for the second year in a row, landing in the upper quartile among global peers in the same category.

The S&P assessments are an annual evaluation of companies’ sustainability practices.

Based on the latest assessment with a score date of Sept. 23, AEV implemented enhanced and accelerated environmental, social and governance (ESG) performance and achieved maximum scores in two dozen critical criteria such as environmental and social reporting, risk governance, and climate strategy.

Among the different metrics, AEV scored highest in the economic and governance dimension with improvements in materiality, policy influence, supply chain management, and innovation management.

“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 Aboitiz.

He said the company is also committed to the health and safety of its employees and contractors through comprehensive and effective occupational well-being programs.

“The United Nations 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,” the company said in a statement.

Moving forward, the company pledges to continue implementing innovations across its sustainability programs.

Its approach to sustainability focuses on advancing business and communities.

“As the company grows, communities grow with it. Its philanthropy arm, Aboitiz Foundation Inc., has always been actively pursuing impactful corporate social responsibility projects focused on education, enterprise and entrepreneur development, and the protection of the environment,” it said.

AEV is the public holding company of the Aboitiz Group with major investments in power through Aboitiz Power Corp.; banking and financial services through Union Bank of the Philippines; food through the Pilmico Group; infrastructure through Aboitiz InfraCapital, and land through Aboitiz Land.