Sustainability Bonds


Manila Water is a unique company where sustainability is at the very heart of what it does, manifesting the full alignment of business goals with social and environmental goals, using the core business to create shared value.

As the water unit of the Ayala Group which has adopted the UN Sustainable Development Goals, Manila Water has been appointed as the group’s champion for SDG 6 – Clean Water and Sanitation. In the course of contributing to SDG 6, the company also touches on the other SDGs as enablers and outcomes. Our work on climate action ensures we have water security resilient operations. Innovations in non-revenue water management helps conserve water for more customers to enjoy. Our water and wastewater infrastructure projects ensure our services are available to more communities. And when we perform our work well in supplying potable and affordable water in a reliable manner, we help our customers become healthy and economically productive, resulting in empowered communities. Through wastewater services, environmental integrity is restored so that ecosystem services to communities are maximized.

A more detailed discussion of Manila Water’s Contribution to the UN Sustainable Development Goals can be read HERE

Manila Water’s Sustainable Financing Framework

Manila Water has developed a Sustainable Financing Framework “Framework” under which we intend to issue Green, Social, and/or Sustainability Bonds to fund projects on water security and environmental sustainability.

The Framework fulfils the requirements of the Green and Social Bond Principles, administered by the ICMA, and is aligned with the ASEAN Green, Social, and Sustainability Bond Standards. It comprises the following four components pursuant to the aforementioned Principles and Standards:

  • Use of Proceeds
  • Process for Project Evaluation and Selection
  • Management of Proceeds
  • Reporting

A more detailed discussion of Manila Water’s Sustainability Funding Framework can be read HERE.



DNV provided the Second-Party Opinion (SPO) on Manila Water’s Sustainable Financing Framework. The SPO ensures that the Framework is in line with industry standards and best practices based on the Use of Proceeds, Project Evaluation/Selection, Management of Proceeds and Reporting.

The Second-Party Opinion document may be downloaded and read HERE.