The Aboitiz Group has submitted its maiden Communication on Progress (CoP) to the United Nations Global Compact (UNGC) to report on its achievements covering its first year of participation and the company’s contributions towards the latter’s Ten Business Principles focused on the 4 pillars: Human Rights, Labor, Environment and Anti-corruption as well as in addressing the United Nations Sustainable Development Goals (SDGs).
“The Communication on Progress is at the heart of our company’s commitment to the UN Global Compact and provides valuable information to our stakeholders about our journey to transform the way we do business and our aspirations for a sustainable future. We have pledged to align our strategies, culture, and operations with the UN SDGs. We are particularly focused on areas in our business value chain that impact the goals, such as providing access to affordable and clean energy (SDG 7), contributing to food security (SDG 2, zero hunger), providing clean water (SDG 6), developing sustainable communities (SDG 11), and innovative infrastructure (SDG 9), while at the same time providing decent work (SDG 8) and managing impacts on climate change (SDG 13), and life below water (SDG 4) and on land (SDG 15),” said Aboitiz Group President and Chief Executive Officer Sabin M. Aboitiz in the CoP’s accompanying statement.
The Group is also part of the UNGC’s local entity, Global Compact Network Philippines (GCNP), which serves as an avenue for gaining vital knowledge on current sustainability best practices from business peers and sustainability professionals. In March 2021, Aboitiz Equity Ventures Vice President for Reputation Management Ana Margarita “Ginggay” Hontiveros was elected to the GCNP Board of Trustees.
Aboitiz affirms its UNGC membership as an important resource for the continued development and improvement of its sustainability initiatives as it learns from the collective experiences of the network in realigning with the UN’s mission to steer the global community towards a more equitable, inclusive, and sustainable path. This has helped the Group improve its disclosures to international sustainability reporting frameworks such as the Global Reporting Initiatives (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD).
The CoPs are disclosed in the company’s 2020 AEV Consolidated Annual and Sustainability Report to provide stakeholders with full transparency. Aboitiz also encourages other businesses in the Philippines to join the GCNP to strengthen and expand business sector collaborations and cooperation in addressing the SDGs and achieving national development goals.
To learn more on how your organization can contribute to SDGs and UN Global Compact Ten Business Principles, you may visit www.unglobalcompact.org or engage with our local network through the Global Compact Network Philippines email [email protected].