Aboitiz Group recently shared innovative strategies in pursuing sustainability and good governance as part of its Great Transformation journey during a peer learning session organized by the United Nations Global Compact (UNGC), through its local chapter, the Global Compact Network Philippines (GCNP).

Held at the Ayala Tower 2 in Makati City recently, the meeting featured a vibrant exchange of ideas among GCNP participant companies with regard to corporate governance best practices and strategies for stakeholder engagement towards transformational change. They also discussed opportunities and challenges in integrating sustainability within a broader organizational framework.

Aboitiz is the co-lead of the Prosperity Pillar alongside SM Investments Corporation. Together with the People and Planet Pillars, they form the core focus groups of GCNP.

As Aboitiz advances to become the Philippines’ first Techglomerate, Aboitiz Foundation is also scaling up its programs to create a more impactful and systemic change.

Representing the Group in the session was Aboitiz Equity Ventures (AEV) First Vice President and Chief Reputation and Sustainability Officer Ginggay Hontiveros-Malvar, who shared the importance of synergy in promoting sustainability across the culture and operations of different business units under Aboitiz Group. She also underscored the key role of high impact leadership in Aboitiz’s ESG (environmental, social, and governance) strategy, which balances business growth and development initiatives.

We have a good mix of leaders who are technically competent in terms of sustainability. At the same time we also have board members who are experts and are fully engaged in terms of developing an innovative culture.  For us, it's not enough to have the right kind of governance structure for sustainability, but you also need to have the workplace culture that allows it to thrive so it can be embedded throughout the organization

—Ginggay Hontiveros-Malvar, First Vice President and Chief Reputation Sustainability Officer, AEV

Yoly Crisanto, the Co-lead of the Planet Pillar and the Chief Sustainability and Corporate Communications Officer of Globe Telecom, shared that the company has been implementing best practices based on global sustainability frameworks and industry standards for over a decade. She said the top management’s commitment to sustainability inspired collective action and empowered the workforce to go above and beyond meeting ESG-linked targets.

“Having sustainability as our CEO’s priority was transformational because it became imperative across the organization. The culture of excellence and responsibility is fostered as employees work towards achieving sustainability targets anchored on international industry standards,” she said.

PLDT, the Planet Pillar Lead represented by Rhea Dienzo, the company’s Sustainability Executive, highlighted sustainability as one of the company’s strategic pillars. This core principle is reflected in the inclusion of connection, conservation, concern, and commitment in the organization framework.

“Our sustainability framework is anchored on PLDT’s purpose of inspiring innovation and meaningful connections through generations. It is embedded in our core principles through the Governance, Nomination and Sustainability Committee (GNSC), which provides oversight on policy making and ensures overall support and alignment with global standards and best practices,” Dienzo said.

Leah Marie Ayeng, Chief Executive Officer of Prestige Paper Products, discussed practical approaches in incorporating sustainability into business operations for small and medium enterprises. She also shared her company’s experience as a case study on how corporations can turn a crisis—such as the COVID-19 pandemic—into an opportunity to create innovative and sustainable products and services.

“Environmental mindfulness is now ingrained in our business philosophy. We don’t simply sell beautiful paper products, but also sustainable packaging. We are challenged to evolve as our clients’ preferences shift towards greener materials that are not only durable but at the same time better for the environment,” Ayeng said.

Meanwhile Vanessa Hans, the Private Sector Head of the Basel Institute on Governance, highlighted the importance of having a corporate governance framework that allows for dialogue between a company, its shareholders and stakeholders to exchange views on sustainability.

“Peer learning among stakeholders should be encouraged, while silos within an organization should be avoided,” Hans said.

After sharing best practices on integrating sustainability into corporate governance, representatives of GCNP’s participant companies had an informative discussion on pragmatic ways to create an environment of good governance and accountability with the goal of creating lasting impact not only within the organization, but in communities they serve as well.

The peer learning session concluded with the participants having a heightened commitment to further integrate sustainability into their business strategies, recognizing the importance of transparency, accountability and stakeholder engagement. This collective aspiration to foster a culture of responsibility aims to promote a more inclusive decision-making process, ensuring all voices are heard in the pursuit of progress.