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Monday, July 15, 2024

Ayala Group vows to fight climate change

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The Ayala Group welcomed last week the challenge to help build a resilient and secure Philippines, vowing to speed up the transition to low carbon emissions and boost the climate readiness of vulnerable communities.

The Climate Change Commission (CCC) and the Ayala Group formally forged a partnership with the signing of a memorandum of understanding on April 12 to attain the country’s climate adaptation and mitigation plans,

The partnership paves the way for the CCC and Ayala, along with Ayala Land Inc., Bank of Philippine Islands, Globe Telecom Inc., ACEN Corp.; and Ayala Foundation, to explore possible avenues of collaboration in promoting and achieving the country’s goals under the Philippine climate agenda.

The MOU also includes establishing prospect programs that allow investment-led, accelerated, just, and equitable transitions towards low-carbon emissions and the increase of vulnerable communities’ climate resilience and adaptive capacity.

“To have the private sector’s commitment to our climate goals is important. Climate change is a complex issue that requires a whole-of-a-government and a whole-of-the-society approach, and this includes the private sector,” said CCC vice chairperson and executive director Robert E.A. Borje in a press statement.

He added the partnership with Ayala marked the start of an era of climate resiliency where businesses and corporations thrive in a sustainable and green business landscape.

To support the government, Ayala continues to ramp up its renewable energy investments, with ACEN expanding its presence globally and increasing its renewable capacity.

The group also scales up its climate action along the lines of energy efficiency, carbon emissions reduction, and sustainability-related financing products.

“Climate change can cause great anxiety or fear, but for us at Ayala, we see these tremendous challenges as a unique opportunity to work together with like-minded partners to help build a resilient and secure future,” said Jaime Urquijo, Chief Sustainability and Risk Officer of Ayala Corp..

“We hope that this MOU signing will bring forth collaborative projects that will enhance our capacity to adapt to climate change; expand our understanding of the risks and opportunities that climate change has brought and be a platform to show the best Filipino ingenuity and resilience in the face of a tremendous global challenge,” he added.

Under the directive of President Ferdinand R. Marcos Jr., the CCC has set priorities to enhance climate change mitigation and adaptation commitments and action between and among stakeholders in the country. This was formalized and institutionalized as contact groups, one of which is Communicating Opportunities to Network, Navigate, and Explore Climate Transformation or CONNECT for the private sector.

“President Marcos underscored the great need of involving and tapping the private sector in order to make sure our development plans and aspirations turn into reality. Our partnership with Ayala offers an exemplary rubric for the CCC in partnering with the private sector towards our common goal of creating a sustainable and resilient Philippines,” Borje said.

The CCC, as the government’s lead policy-making body on climate change, is tasked to coordinate, monitor, and evaluate programs and ensure integration into national, local, and sectoral development plans.

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