Manila Water receives The Asset Platinum Award for excellence in ESG
Manila Water was feted with the Platinum Award for excellence in Environmental, Social, and Governance (ESG) practices by The Asset, a Hong Kong-based institution which recognizes corporations for excellence in their respective industries.
Nearing its 20th year, The Asset Corporate Awards is one the longest-running award-giving bodies in Asia. It consists of three categories, namely Platinum, Gold and Titanium. The Asset Platinum Award is presented to corporations which have exhibited excellence in the adoption of ESG standards across its management and operations.
The selection of awardees adheres to a stringent and rigorous approach in identifying the best institutions in the region. Specifically, The Asset employs benchmarking of listed companies on corporate sustainability, utilizing a set of criteria which covers financial and management performance, governance quality, social responsibility, environmental responsibility and investor relations.
In recent years, Manila Water has established itself as one of the premier water and environmental services companies in the region. Since 1997, Manila Water has been the concessionaire of the Metropolitan Waterworks and Sewerage System in the East Zone of Metro Manila, providing water and used water services to more than 6 million customers. Leveraging its operations and management track record, Manila Water has since expanded its market reach, delivering quality service and greater coverage to key municipalities in the country, and internationally to growth areas in Vietnam, Indonesia and Thailand.
A subsidiary of Ayala Corporation, Manila Water is the first Philippine company to publish its self-declared Sustainability Report back in 2004, and subsequently adopt the Global Reporting Initiative (GRI) Standards for sustainability reporting. As Manila Water continues to expand its reach beyond the East Zone both domestically and in the region, these standards help strengthen Manila Water’s sustainability and governance efforts. This commitment has been reinforced by the recent appointment of Manila Water President and CEO Ferdinand M. Dela Cruz as the company’s Chief Sustainability Officer.
Dela Cruz expressed his appreciation for this notable recognition from The Asset. “We are truly humbled to receive The Asset Platinum Award for ESG excellence, more so that this year marks our very first entry to The Asset Corporate Awards. We see this recognition as a reflection of our values and philosophy in the company, as we continue to strengthen our commitment to ESG standards and sustainability practices,” Dela Cruz said.
The awarding ceremony was held last December 10 at the Four Seasons Hotel, Hongkong.