IN AN ERA where companies are increasingly judged not only by their financial performance but also by their contributions to sustainability and corporate responsibility, the Globe Group stands out as a prominent example. With a robust commitment to the environment, society, and governance (ESG), and substantial progress towards its Net Zero goals, the Globe Group's performance in Q3 2023 showcases its dedication to being a responsible corporate citizen.
One of the key areas where the Globe Group has been making significant strides is in its commitment to Net Zero emissions. As part of its partnership with the Science Based Target Initiative (SBTi), the company has set an interim voluntary reduction target of a 4.2 percent linear annual reduction rate (LARR) for its Scope 1 and 2 emissions.
This target is pending SBTi verification and approval but demonstrates the company's ambition to reduce its carbon footprint. In fact, the Globe Group's commitment to sustainability has been evident for some time. In 2022, the company managed to achieve a remarkable 4.42 percent reduction in its combined Scope 1 and 2 greenhouse gas (GHG) emissions. This achievement reflects its energy efficiency programs and a continued shift to renewable energy sources.
The Globe Group believes in transparency and accountability in its sustainability efforts. The company's 2022 Integrated Report adheres to several recognized frameworks and recommendations, ensuring that its sustainability reporting is in line with international standards.
These frameworks include the International Integrated Reporting Council (IIRC), Global Reporting Initiative (GRI) standards, Task Force on Climate-related Financial Disclosures (TCFD) recommendations, Sustainability Accounting Standards Board (SASB), United Nations Sustainable Development Goals (UN SDGs), United Nations Global Compact (UNGC) Principles, and GSMA ESG Metrics for Mobile. Furthermore, the report complies with the recommendations made by the Philippines SEC regarding sustainability reporting for publicly-listed companies (PLCs).
It has also undergone third-party external assurance conducted by DNV, emphasizing the company's commitment to the integrity of its sustainability efforts.
In Q3 2023, Globe implemented strategies to reduce Scope 3 emissions, focusing on mobile and broadband devices as part of its E-Waste Zero Program. This shift aligns with global trends promoting electronic waste circularity, emphasizing the importance of reducing value chain emissions and maximizing impact on e-waste circularity.
Additionally, the G Music Fest introduced new sustainability practices in events, setting an example for reducing single-use plastics and encouraging the "Bring Your Own" initiative for festival-goers. Collaborating with Ayala Logistics through Integrated Waste Management, Inc. (IWM), the company ensures proper waste segregation, collection, and post-processing with a priority to divert waste away from landfills.
The Globe Group has shown its dedication to the well-being of its customers and society at large. It has been relentless in combating scam and spam messages, with a 46 percent decrease in blocked bank-related scam and spam messages in its network in the first half of the year. This initiative not only protects its customers but also empowers them with knowledge about data privacy and cybersecurity.
The company's dedication to digital inclusion has resulted in innovative ways to make digital products and services accessible and affordable for individuals, families, and businesses. It remains committed to improving literacy and addressing involuntary hunger.
Globe has released revised policies related to environmental sustainability, business continuity management (BCM), and sustainable supply chain practices. The enhanced Environmental Sustainability Policy emphasizes circularity and responsible consumption, production, carbon reduction, resource efficiency, and comprehensive waste management.
The strengthened BCM policy aims to ensure dependable connectivity even during disasters and other catastrophic events, reinforcing the company's commitment to adapting to the impacts of climate change.
The Sustainable Supply Chain Policy Commitment outlines enhanced supplier due diligence, selecting vendors based on a multifaceted assessment that scrutinizes their sustainability commitments and practices. The company's commitment to ESG principles goes beyond compliance with laws and regulations, with a strong emphasis on human rights, diversity, equity, inclusion, and a sustainable supply chain.
In 2023, the Globe Group achieved an impressive ratings upgrade to AA from MSCI, marking the highest rating in the telco industry in the Philippines. This upgrade demonstrates the company's dedication to implementing environmental, social, and governance practices across its operations. The Globe Group has also been recognized and celebrated for its commitment to employee experience, anti-cyberbullying campaigns, and overall sustainability efforts. These accolades underscore the company's commitment to enhancing the well-being of its employees and society while protecting the environment.
The Globe Group's performance in Q3 2023 reflects its strong commitment to sustainability and ESG principles. As the company continues to make strides towards Net Zero emissions and provides transparency in its reporting, it sets a positive example for responsible corporate citizenship. The Globe Group's dedication to environmental initiatives, social empowerment, and strong governance practices ensures that its impact reaches far beyond financial success. (SPONSORED CONTENT)