Two Filipino Companies Make the Top 200 Asia-Pacific Climate Leaders List
Two companies from the Philippines made it to a list of companies in the region that bolstered their emission reduction efforts. The list was in a special report entitled “Asia-Pacific climate leaders: Which companies cut emissions?” published by the Financial Times, Nikkei Asia, and Statista.
Pilipinas Shell Petroleum and Globe Telecom each reduced their core emissions by totals of 53.2 percent and -83.1 percent, respectively. the report said both companies had an impressive track record in terms of their environment, social and corporate governance (ESG) performance and commitment to scaling down their carbon footprint.
Editors put together the list by examining publicly disclosed data on greenhouse gas emissions and revenues declared from 2015 to 2020. The selection process also included months of research, calls for participation, and scrutiny of public emissions data. Thousands of companies were contacted for this initiative.
“The survey takes account of so-called Scope 1 and Scope 2 emissions: those produced by the company itself, plus those produced in generating the energy it used. Scope 3 emissions, or indirect emissions arising in businesses’ supply chains, were excluded from the review," according to their release.
Globe, for its part, has come up with various programs to cut down its greenhouse gas emissions to net zero by the year 2050. In the Philippines, it is the only publicly listed company to commit to set science-based targets aligned with the 1.5-degress pathway of the Paris Agreement.
Shell, on the other hand, looks to reduce its absolute emissions by 50 percent by 2030. The company hopes to provide enough renewable energy for 50 million households by that time, too.