Maynilad Water Services Inc. said Thursday it launched its Sustainable Finance Framework in partnership with leading ESG analytics firm Morningstar Sustainalytics.
The water concessionaire said in a statement the framework would guide the company’s issuance of green, social, sustainable or blue bonds to fund environmental and social projects aligned with its sustainability goals.
“Having a sustainable finance framework underscores Maynilad’s commitment to integrating environmental, social and governance considerations into our financial strategy. With this framework, we can leverage on sustainable financing to support projects that will ensure a greener, more equitable future,” said Maynilad president and chief executive Ramoncito Fernandez.
The independent verification, achieved through a second party opinion (SPO) by Morningstar Sustainalytics, is consistent with similar standards like the Green and Social Bond Principles and ASEAN Green Bond Standards.
The framework serves as a roadmap for Maynilad’s future sustainable financing activities. It allows the company to issue debt instruments tailored to specific environmental and social projects that meet the framework’s eligibility criteria.
Maynilad said it would prioritize critical sustainability initiatives, including expanding water infrastructure for regional water security, developing wastewater treatment facilities, protecting essential watersheds, and investing in energy-efficient technologies and renewable energy sources.
The approach, Maynilad said, will not only improve sanitation and resource management but also ensure Maynilad’s operations are resilient to climate change.
The framework allows for financing social projects that promote better access to water and sanitation services in keeping with its broader sustainability strategy including achieving climate neutrality by 2037, expanding water supply, reducing water loss (NRW) and creating positive social impact for its communities.