The Situation
Ayala Corporation (Ayala) is one of the oldest and largest corporations in the Philippines, with extensive holdings in the country’s key sectors such as banking, real estate, infrastructure, utilities, and telecommunications. Today, it is a market leader in sustainable development in the Philippines, being the first local company to commit to net zero, among other sustainability initiatives.
As part of a 3-yearly refresh, and in response to the new mandatory sustainability disclosure requirements in the Philippines, Ayala engaged Anthesis to carry out a best-in-class CSRD / ESRS-aligned double materiality assessment, looking at both inward impacts on the company’s financial performance, and outward impacts on people and the environment (“double materiality”).
Our Solution
We began by identifying a long list of sustainability-related impacts, risks and opportunities relevant to Ayala, considering a range of industry sources and the corporation’s extensive portfolio. These impacts, risks and opportunities were grouped into high-level topics.
The sustainability-related impacts, risks and opportunities were qualitatively assessed using an expert-driven scoring process aligned with CSRD/ESRS and Ayala’s risk management framework.
A workshop with Ayala’s executive team and their sustainability and risk management team, and interviews with key stakeholders, were conducted to test and validate the draft scoring. Scoring materiality thresholds were set to determine the important sustainability-related impacts, risks and opportunities, and as a result, the material topics.
Impacts of the Project
Prioritisation of issues
Our double materiality assessment helped Ayala understand their key sustainability issues, informing the company’s sustainability focus areas and strategy development.
Future focus
Our findings will prepare Ayala for upcoming reporting requirements and further internal steps to improve its sustainability performance as a business and as a leading company in the Philippines that proudly aligns itself with the development needs of the country.
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