TO EDUCATE AND ENGAGE The Inquirer ESG Edge initiative gets going with the signing of a memorandum of understanding with partner organizations on March 22. —EUGENE ARANETA
The Philippine Daily Inquirer (PDI) is partnering with 11 organizations from the business, civic, education and environment sectors in support of a regional media collaboration promoting sustainability.
A memorandum of understanding was signed on March 22 between PDI and the various groups, who will be forming a network of thought leaders and experts under the Inquirer ESG Edge initiative.
ESG stands for “environmental, social and governance,” basically a measure of how a business impacts society and the environment, and its level of transparency and accountability.
In the corporate world, it has gained credence as a major factor considered by prospective investors when evaluating a company—its sense of responsibility concerning climate or pollution issues, resource conservation and biodiversity, health and safety, human rights and equality, philanthropy and ethics, among other standards.
The Inquirer ESG Edge represents PDI’s participation as one of the three founding members of the Asia Sustainability Impact Consortium, which also includes the Star Media Group of Malaysia and Kompas Gramedia of Indonesia. The consortium is considered the first cross-border alliance of its kind and can collectively reach 123 million people across the region.
Sense of urgency
Inquirer contributions to the consortium may include not only ESG-related reports or commentary but also forums, campaigns and community projects.
“We aspire to educate and engage the public and key stakeholders on the importance and urgency of adopting ESG best practices and create a community that will provide insights and lead or guide discussions on ESG matters and practices,” Inquirer president and chief executive officer Rudyard Arbolado said as he formally welcomed the partners gathered for the signing at the company office in Makati.
The consortium has adopted a three-pronged strategy—education, engagement and community building—to achieve targets laid out for the next three years, according to Kat Dalusong, Inquirer vice president for advertising and group head for sales.
The Inquirer ESG Edge partners are as follows:
• Philippine Business for Social Progress (PBSP)
• Philippine Business for Education (PBEd)
• World Wide Fund for Nature (WWF) Philippines
• Philippine Center for Environmental Protection and Sustainable Development Inc. (PCEPSDI)
• Center for Conservation Innovations PH Inc. (CCIPH)
• Foundation for the Philippine Environment (FPE)
• Environmental Studies Institute
• PhilinCon
• Allianz PNB Life
• British Chamber of Commerce
• League of Corporate Foundations (LCF)
Creating public demand
Asked what she expects out of the partnership, WWF Philippines executive director Trin Custodio said: “In reaching out to the business sector, our global economy is ripe for a transition to a green/blue/circular one. ESG is a framework for reporting impacts, and there are so many different frameworks […] This information and exchange of best practices will be helpful for making sure the objectives are achieved.”
FPE institutional development lead Joan Arbolado added: “By joining this consortium, we hope to strengthen our impact and engage broader stakeholders together to drive action towards positive environmental change and a more sustainable future.”
For Gino Riola, chief marketing officer of Allianz PNB Life, “Sustainability is in our DNA as a leading insurer in this space. This consortium allows us to partner with like-minded institutions and amplify our advocacy through the media’s strong reach.”
“We want to create public demand for nature conservation. Businesses should invest in nature and we need to measure net positive impacts,” said CCIPH president Neil Aldrin Mallari.
Green skills
“We want to reach more people, including the youth, and inculcate the importance of green skills and contributing to nation-building through environmental efforts,” said Cherry Basbano, PBEd communications manager.
“More than getting something out of this, it’s about us giving our expertise on environmental projects to the consortium so we can do more for sustainability,” added Kristine Rivadelo, PBSP operations director.
Rainielle Borican, business development and communication officer of PCEPSDI, saw the initiative as a new vehicle for the group’s eco-labeling campaign, saying: “We’re looking forward to promoting each other’s advocacies, especially on avoiding greenwashing.”
READ: Regional media powerhouses form Asia’s first sustainability impact consortium
“We hope to raise ESG awareness and build alliances. If we want to go far with ESG, it’s imperative we work together,” said LCF executive director Celine Santillan.