The Necessity of Adopting Sustainability in the Philippines

 

How businesses can harness data to achieve sustainable business results

The world is experiencing significant shifts, some of which carry implications if not addressed promptly. Among the urgent issues that the world confronts are environmental and social problems, posing threats not only to our planet but also to the future of businesses. This has led to an increasing focus on sustainability, a principle crucial for businesses to adopt today.

#DelawarePH

In the current scenario, companies are proactive in implementing sustainability measures in their operations through action plans that align with the Environmental, Social, and Governance (ESG) objectives. These objectives assess a company’s impact on climate change, human rights, diversity, employee well-being, and ethical governance. By achieving these objectives, businesses portray an image of reliability and accountability, ultimately contributing to long-term prosperity.

The financial advantages of sustainability are indisputable. A recent report by Global Sustainable Investment Review reveals a staggering $30.3 trillion invested globally in sustainable assets. Notably, sustainable investment assets under management (AUM) have grown by 20 percent since 2020 in non-US markets, underlining the increasing investor interest in this area.

In this context, the Philippines has been making tangible strides towards sustainability in recent years. For instance, Publicly Listed Companies (PLCs) with a public float of at least 50 percent are now mandated to submit ESG reports according to Securities and Exchange Commission (SEC) guidelines based on Global Reporting Initiative (GRI) standards. While not compulsory for medium and large companies, adopting these guidelines is highly recommended to contribute positively to society and the environment.

With the growing emphasis on social responsibility and ESG objectives, businesses are exploring various strategies for success. However, one area remains largely unexplored: the use of data. But how can companies harness the power of data to fully realize their sustainability objectives?

The role of data in achieving sustainable goals

ESG objectives have made it clear to companies that inaction is no longer an option. The question now is not if they will act, but how and when. This has led to a surge in companies seeking ways to integrate sustainability into their core operations.

But how can companies act without a clear understanding of their environmental, social, and economic impact? This is where data becomes crucial. Data empowers businesses to understand their current sustainability performance across social, cultural, environmental, and economic dimensions. By analyzing this data, companies can identify areas for improvement and transform operations to become more responsible and relevant to all stakeholders. Data unlocks a wealth of sustainability opportunities. However, to leverage this data effectively, large organizations need robust data analysis capabilities. Transforming data into actionable insights is key to creating meaningful change.

Using data to create a sustainable solution

Transitioning to sustainable processes requires data-driven decision-making across all operations. By analyzing relevant data sets, companies can pinpoint areas for improvement, optimize resource utilization, and implement effective sustainability initiatives. This data-driven approach empowers businesses to prioritize actions that yield the greatest environmental and economic benefits, whether it’s reducing energy consumption, minimizing waste generation, or optimizing efficiency on their operations.

The approach begins with collecting relevant ESG data from various sources, including internal systems, sensors, surveys, and external databases. This data is then analyzed to identify opportunities, challenges, and areas for improvement in sustainability performance. Based on this analysis, companies can establish priorities, set goals, and develop a long-term action plan. The action plan is monitored using specific key performance indicators (KPIs), and the results are continuously evaluated and refined for improvement.

While seemingly straightforward, this process can be complex. Integrating technology can significantly improve data comprehension. Companies need to leverage data and technology to create impactful sustainable solutions and translate them into actionable measures. This fosters trust and credibility among stakeholders and drives a positive global impact.

The journey to a more sustainable future starts now

Transforming a business for the better should be an achievable goal if the company knows where to start. For Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, sustainability has always been integrated into its planning and day-to-day operations. AIC and its business units continue to leverage innovative technologies to enhance operational efficiencies across the Group while pursuing initiatives that drive positive environmental and social impacts. Towards this end, AIC partnered with delaware, a global company that delivers advanced ICT solutions and services, to implement SAP S/4HANA Work Clearance Management.

This collaboration represents a strategic initiative by AIC to enhance occupational health and safety and optimize resource utilization across the Group. According to AIC Head of IT & Digital, Vice President Raymund Ramos, adopting SAP S/4HANA Work Clearance Management is a strategic move to streamline work processes, enforce safety protocols, and ensure compliance with regulatory standards, ultimately driving sustainable outcomes for the company and the community.

“We have started by deploying a system on work clearances and permits for our asset technicians to ensure safety in the field. We are implementing this across all of AIC’s subsidiaries. This is one of our simple yet impactful steps towards promoting health and safety in our organization,” said Ramos.

Senior Vice President for Customer Success of delaware Simone Pigason could not agree more. She underscores the importance of this partnership and innovation in driving sustainable practices, and this move with AIC is evidence of that.

“By combining AIC’s industry expertise in developing smart and future-ready infrastructure with delaware’s technological capabilities and implementation expertise, we hope to achieve optimal results that will deliver tangible value for stakeholders while advancing sustainability goals,” said Pigason.

Partner and Delivery Head of delaware Rosette Carrao underscores the important role of delaware in helping businesses realize their sustainability and business transformation goals.

“The path to a sustainable future starts now, and delaware stands ready to guide businesses on this transformative journey. As the world demands accountability and action from organizations, the time for change is upon them. Prioritizing sustainability goes beyond mere profit-making; it fosters resilience and creates a brighter future for all stakeholders. delaware is committed to delivering impactful change, partnering with businesses to navigate this crucial shift,” said Carrao.

FAQs

1. What are ESG goals? ESG goals measure a company’s impact on climate change, human rights, diversity, employee well-being, and ethical governance.

2. How can data help in achieving sustainable goals? Data empowers businesses to understand their current sustainability performance across social, cultural, environmental, and economic dimensions. By analyzing this data, companies can identify areas for improvement and transform operations to become more responsible and relevant to all stakeholders.

3. What is the role of technology in achieving sustainable goals? Integrating technology can significantly improve data comprehension. Companies need to leverage data and technology to create impactful sustainable solutions and translate them into actionable measures.

4. What is SAP S/4HANA Work Clearance Management? SAP S/4HANA Work Clearance Management is a system deployed by Aboitiz InfraCapital (AIC) to streamline work processes, enforce safety protocols, and ensure compliance with regulatory standards, ultimately driving sustainable outcomes for the company and the community.

5. Who is delaware? Delaware is a global company that delivers advanced ICT solutions and services. It has partnered with Aboitiz InfraCapital (AIC) to implement SAP S/4HANA Work Clearance Management.