Manila Water's ESG Progress: 2025 Commitments

Manila Water has recently published its 2022 Integrated Report, which emphasises the company's notable advancements towards its initial mid-term goals in Environmental, Social, and Governance (ESG) areas.

The report effectively presents the accomplishments under three essential pillars: Water Security, Carbon Reduction and Avoidance, and Capital Expenditures, illustrating Manila Water's dedication to sustainability.

The report highlights Manila Water's significant progress in achieving a robust water security buffer by the end of 2022. This accomplishment positions the company well to ensure consistent water service, even in the face of potential challenges like El Nino. Manila Water's efforts to secure an ample water supply demonstrate its dedication to meeting customer needs and ensuring reliable access to water resources.

Moreover, the company has successfully reduced and avoided Scope 1 and 2 greenhouse gas (GHG) emissions by 36%, surpassing its business-as-usual benchmark. Notably, this achievement was made while significantly expanding its business and increasing the utilisation of renewable energy sources. This brings Manila Water closer to its goal of reducing and avoiding carbon emissions by 60% by 2025.

Manila Water's commitment to achieving its ESG targets is evident in its record-high capital expenditure of Php 21.7 billion allocated to its concession businesses. This substantial investment in infrastructure development showcases the company's unwavering dedication to fulfilling its service obligations while creating long-term value for its estimated 11 million customers worldwide.

Driving sustainability forward, Manila Water aims to advance its sustainable development agenda through the second series of its mid-term ESG commitments in 2023. This builds upon the company's enhanced sustainability framework, which focuses on Protecting the Environment, Helping Communities Thrive, and Building a Culture of Care and Trust.

The new ESG commitments for 2025 include goals such as reducing non-revenue water level to below 15% for the East Zone Concession, reforesting 1,000 hectares of watershed areas and planting and nurturing 580,000 trees, achieving 100% compliance with national drinking water standards, and attaining a zero lost time injury rate.

"2022 underscored our significant efforts towards ESG and sustainability objectives. Manila Water has established goals and commitments that guide our approach to environmental and community stewardship," stated Jocot De Dios, President and CEO of Manila Water. "The progress made in fulfilling these commitments is a testament to the dedication of every Manila Water employee, who has personally committed to improving the lives of our customers for the next 25 years and beyond."

To view and compare company ESG Ratings and Sustainability Reports across sectors, follow our Company ESG Profiles page.

For more investor-related news

Source: Manila Water