Manila Water has released the significant progress of its ESG targets, showcasing its achievements in water security, carbon reduction and capital expenditure for the year 2022. Simultaneously, the Company has announced its new ESG commitments for this year until 2025, following the implementation of Manila Water’s improved Sustainability Framework which revolves around Protecting the Environment, Helping Communities Thrive, and Building a Culture of Care and Trust among its employees.
Manila Water recently released its 2022 Integrated Report, highlighting the company’s significant progress towards the first set of mid-terms Environmental, Social and Governance (ESG) targets. The report showcases the achievements across three key pillars: Water Security, Carbon Reduction and Avoidance, and Capital Expenditures, demonstrating Manila Water’s commitment to sustainability.
Outlined in the report, Manila Water has achieved a substantial water security buffer as of year-end 2022. This accomplishment positions the Company favorably to maintain consistent water service, even in the presence of potential challenges such as the looming El Nino. Manila Water’s efforts in ensuring an ample water supply showcase its commitment to meeting the needs of its customers and guaranteeing reliable access to water resources.
Furthermore, the Company further reduced and avoided its Scope 1 and 2 GHG emissions by 36% thereby surpassing its business-as-usual benchmark. Notably, Manila Water achieved this result while growing its business substantially through increasing its use of renewable energy sources. This brings Manila Water one step closer to accomplishing its target of reducing and avoiding carbon emissions by 60% in 2025.
The focus that Manila Water has on meeting its ESG targets for 2022 is manifested in its record-high capital expenditure of Php 21.7 billion earmarked for its concession businesses. This significant investment in infrastructure development reflects the company’s unwavering commitment to fulfilling its service obligations while creating long-term value for its estimated 11 million customers across the globe.
Driving sustainability further
In 2023, Manila Water aims to further its sustainable development agenda through the second series of its mid-term ESG commitments. This development builds on Manila Water’s improved sustainability framework that highlights its agenda on: Protecting the Environment, Helping Communities Thrive, and Building a Culture of Care and Trust.
The new ESG commitments aim to achieve the following by 2025:
- <15% non-revenue water level for the East Zone Concession
- 1,000 hectares of watershed areas reforested, and 580,000 trees planted and nurtured
- 100% compliance to national drinking water standards
- Zero lost time injury rate
“2022 underscored our big push towards our ESG and sustainability thrusts. Manila Water has established a series of goals and commitments that shape our approach to environmental and community stewardship,” said President and CEO of Manila Water Jocot De Dios. “The progress made against these commitments is a testament to the work of every single Manila Water employee who have made it their personal commitment to improve the lives of our customers for the next 25 years and beyond.”