ESG in the Great Reset
Globe and multinational companies stressed the importance of integrating environmental, social, and governance (ESG) practices in business operations as nations come out of the pandemic. It is necessary to put ESG at the core of every institution to build a better world.
ESG, as aligned to the United Nations Sustainable Development Goals (UN SDGs), aims for everyone to have equal opportunities to live a life that respects humanity and allows future generations to do the same.
Industry leaders spoke about the power of ESG integration on the future of enterprises at the 12th Globe Business Leadership Innovation (Lead-In) Forum, which carried the theme “Bigger Picture, Greater Future: Redefining Success Beyond Business.” The annual event was attended by over 900 guests, including C-Level executives and heads from various industries.
Globe Chief Sustainability Officer and Senior Vice President for Corporate Communications Yoly Crisanto said more Filipino consumers and companies are now embracing new ways of doing things under the ‘Great Reset.’ As a result, ESG targets are being placed alongside financial targets as top corporate priorities.
She said stakeholders worldwide, including employees, customers, shareholders, and investors, are expecting businesses to be transparent and to stand for sustainable practices and ethical standards.
“There is no time to lose. We must evolve from outdated principles of unlimited access to resources and the primacy of shareholders to one that recognizes the limits and consequences of everything we extract, manufacture, consume, and put to waste. Above all, we must recognize our impact on humanity. Just like any transformative change, it begins within our organizations,” Crisanto pointed out.
Underpinning ESG is technology, which serves as a great enabler. Companies that are more mature in the digital space are winning the future because digital transformation has become a life essential. However, digital transformation with compassion for humanity will create more value moving forward, she added.
Globe is determined to do its part to help the country meet its commitment to the UN SDG 2030 agenda by making connectivity accessible for all, preserving the environment, creating economically viable jobs, and protecting human rights.
Lucas Joppa, Microsoft Corporation’s Chief Environmental Officer, also underscored the responsibility of enterprises to include ESG in their operations. “Building a solid society, working to improve the human experience, working to ensure that our economic systems don’t degrade our environmental systems. Those are jobs for every type of organization,” he said.
On the other hand, Cesar Romero, President, and CEO of Pilipinas Shell Petroleum Corporation said that the environmental challenges, mainly global warming, are too big to be handled by just one sector of society, thus, the need for collective effort.
Just like Globe, Royal Dutch Shell has committed to achieving net-zero emissions by 2050. “We believe that in due consideration to nature and society, we need to work hand in hand with our customers in helping them achieve the net zero emissions target. And similarly, allow our company to be a net-zero emission business by 2050,” he said.
For instance, Shell pushes the use of eco-bricks through a livelihood project in Cagayan de Oro City, which at the same time addresses plastic waste. The company also provides the community with renewable energy and solar power.
For his part, Managing Director, Member of the Management Committee of Ayala Corporation, and Chief Operating Officer of iPeople, Inc. Alfredo Ayala said businesses can still pursue profit with purpose. “You can attract really passionate people when you have that purpose at the core of your organization. You can achieve a similar Return on Equity, but you have other dividends from the community, from HR, coming from retention and attraction. There are different types of profit, and there could be a lot of benefits above and beyond the numbers,” he explained.
Ayala Education has committed to providing quality and affordable education to significantly enhance the employability of graduates. Job creation is key to a nation’s success, thus, the importance of equipping students to become great employable citizens.
“Fast forward today. I think we can say that we’ve dramatically reduced our environmental footprint and our footprint going forward. I think we’ve significantly increased our societal impact, all because of digital and our partners like Globe,” Ayala said.
Globe has maintained its status as among the world’s most socially and environmentally responsible companies, having been included in the FTSE4Good Index Series for six consecutive years. The index, administered by the Financial Times Stock Exchange – Russell Group, measures the performance of businesses around the world that demonstrate strong ESG practices.
For more information about Globe Business, visit www.globe.com.ph/business/enterprise.