Wednesday, August 16, 2023

PLDT bolsters alignment with CDP on global climate reporting standards

The Philippines’ leading integrated telecommunications company PLDT Inc. (PLDT) continues to strengthen its alignment with global standards for climate action as it benchmarks with the 2023 disclosure system of the CDP. 

Previously known as the “Carbon Disclosure Project” and recognized globally by investors, cities, and corporates, CDP provides guidance on climate-focused reporting metrics and facilitates independent scoring on progress in terms of governance, risk management, target and performance, and emissions data, among others.

For its 2022 CDP assessment, PLDT received a “B” or a “Management” rating, signifying that the company has measures in place to manage its business impact on the environment. This was a significant improvement from its “C” or “Awareness” rating in 2021 and 2020 consecutively. Results of the 2023 CDP assessment are expected to be released by 2024.

“Climate action is integral to our strategy of embedding sustainability in the way we do business. As this discipline calls for continuous learning and collaboration, we aim to maximize opportunities to adopt and align with global best practices and reporting standards,” said PLDT's First Vice President, Chief Sustainability Officer, and Head of Investor Relations Melissa Vergel de Dios.

PLDT’s environmental management measures include a decarbonization roadmap that targets Scope 1 and Scope 2 greenhouse gas (GHG) emissions reduction by 40% by 2030, from a 2019 baseline. This target is underpinned by the company’s expansion of renewable energy use, operational eco-efficiency measures, and green technology adoption for its network and data center rollout.

As CDP underscores the importance of assessing and identifying climate risks, PLDT earlier reported on its conduct of a comprehensive and third-party-aided climate risk assessment that guides its strategies for disaster-proofing its digital infrastructure and institutionalizing business continuity measures across its organization.

The company also integrated climate expertise into the composition of its Board of Directors with the recent appointment of Fr. Roberto C. Yap, S.J. as a member of its Advisory Committee. Yap, S.J. holds a PhD in Environmental Economics from the University College London and is slated to contribute to PLDT’s thrust of strengthening its climate governance and management approach.

These efforts demonstrate PLDT’s support to the goals of the Paris Agreement and contribution to the United Nations Sustainable Development Goals, particularly Goal 9 on Industry, Innovation, and Infrastructure, and Goal 13 on Climate Action.

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