Manila Water gets Management Level ratings for climate change, water security disclosures
MANILA Water received a Management B rating for its 2022 CDP Climate Change and Water Security Disclosures, improving its Climate Change rating from Awareness level (C), while maintaining the management level rating in Water Security.
CDP, formerly Carbon Disclosure Project, aims to make environmental reporting and risk management a business norm, driving disclosure, insight and action toward a sustainable economy.
Manila Water’s B rating on the CDP Score Report on Climate Change for 2022 is now above the Asia regional average of C and also higher than both the global average and non-energy utilities sector average of C.
It also garnered a B rating on the CDP Score Report for Water Security for 2022 which is in the management band. This is the same as the Asia regional average of B but higher than the non-energy utilities sector and global average, which are both at C rating.
Receiving the B ratings exemplified the company’s strengthened climate actions, a solid testament to its efforts to address risks and opportunities brought about by climate change.
It also manifested the firm’s steadfast commitment to provide 24/7 water and wastewater services to customers within its service areas.
Manila Water’s Sustainability Head Sarah Bergado said that the company reaffirms its commitment to contribute to the United Nations Sustainable Development Goals on Climate Action and the Paris Agreement through the company’s climate change adaptation and mitigation initiatives.
“We build our infrastructure to be climate-resilient as we endeavor to implement nature-based solutions such as watershed protection and reforestation to adapt to and mitigate climate change,” Bergado said.
“In partnership with South Pole, an international climate solutions provider, we are developing our net zero and decarbonization roadmap to reduce our greenhouse gas emissions across the value chain,” she added.
CDP Worldwide is a not-for-profit charity that runs a global disclosure system for investors, companies, cities, states and regions to measure and manage their risks and opportunities on climate change, water security and deforestation.
The CDP Score Report allows companies to monitor their progress toward environmental stewardship through benchmarking and comparison with their peers, in order to continuously improve their climate and water governance.
The rating is based on four levels: Leadership (A/A-): Implementing current best practices; Management (B/B-): Taking coordinated action on climate/water issues; Awareness (C/C-): Knowledge of impacts on, and of, climate or water issues; and Disclosure (D/D-): Transparent about climate and water issues.
CDP is a partner of the United Nationswater in collecting corporate data related to contributions toward Sustainable Development Goals 6 on Clean Water and Sanitation indicators, including 6.3 on Wastewater, 6.4 on Water Use Efficiency, and 6.6 on Ecosystems.