Manila Bulletin

Co­op­er­a­tion, not com­pe­ti­tion

- IG­NA­CIO R. BUNYE Philippines · Asia · Ayala Corporation · Ayala Land · Facebook · Twitter · LinkedIn

The Ayala Group is widely rec­og­nized in the Philip­pines and in Asia as a pi­o­neer in ESG (En­vi­ron­ment, So­cial, and Gov­er­nance) with its for­mal adop­tion of the Ayala Sus­tain­abil­ity Frame­work. In a re­cent we­b­cast con­ver­sa­tion with ATR As­set Man­age­ment’s Ju­lian Tar­robago Jr., Jaime Au­gusto Zo­bel de Ayala (JAZA), Chair­man and CEO of Ayala, ex­plained the gen­e­sis of this cor­po­rate phi­los­o­phy.

In a nut­shell, this is about us­ing the eco­nomic engine and for-profit dis­ci­pline of en­ter­prises to ad­dress so­cial is­sues – not as a phi­lan­thropy but as an in­te­gral part of do­ing busi­ness. This is a new phi­los­o­phy de­signed to fos­ter an en­vi­ron­ment where there is in­clu­sive growth. This is achieved by en­gag­ing dis­en­fran­chised sec­tors and go­ing be­yond just the fi­nan­cials.

This is re­flected in how Ayala pur­po­sively evolved over the years and how it has op­er­ated dur­ing the cri­sis. This ex­plains how and why Ayala Land con­tin­ues to make ur­ban cen­ters more liv­able and more friendly, why Ayala Land projects aim to be­come car­bon-neu­tral a few years down the road, why AC En­ergy con­tin­ues to im­prove its mix of en­ergy sources, con­sis­tently in­creas­ing re­liance on re­new­ables, why Ayala has ven­tured into health and into ed­u­ca­tion, and why BPI has dra­mat­i­cally up­sized its mi­cro­fi­nance.

This ex­plains why dur­ing the cri­sis, Ayala’s first con­cern was to en­sure both the phys­i­cal and fi­nan­cial well-be­ing of its stake­hold­ers. This in­cludes Ayala’s em­ploy­ees and those of the var­i­ous eco-sys­tems (read that as 250,000 SMEs) which sup­port Ayala. This meant R10 bil­lion, to date, of fore­gone rev­enue, to help in their re­cov­ery and fos­ter­ing sus­tain­able growth be­yond the cri­sis.

Fi­nally, JAZA ex­plains why “this is a time for us to learn to co­op­er­ate rather than be at odds with each other. Our mod­ern cap­i­tal­ist sys­tem is mas­sively in­te­grated in a way that it wasn’t in the past. And be­cause we have an in­te­grated sys­tem, we are tied to each other in ways that we ei­ther all suc­ceed to­gether, or not. If one com­po­nent of that sys­tem is al­lowed to fail, then you start to break up what makes mod­ern cap­i­tal­ism so strong. The sup­ply chain, the in­te­gra­tion, the way we work off each other, each per­son pro­vid­ing their own com­po­nent of the sys­tem. If we don’t help each other, par­tic­u­larly in the public-pri­vate sec­tor to reen­er­gize and restart that great engine, then we will fail. Per­haps, this is a pe­riod in time where co­op­er­a­tion is be­ing de­manded more from all of us both in the pri­vate sec­tor alone and in the pri­vate-public in­ter­ac­tion, to see how we can all work to­gether to ad­dress the many pain points that we will face as a na­tion if we are to get out of this pan­demic.”

Change your pass­words of­ten

Even prior to the pan­demic, in­ci­dents of unau­tho­rized ATM with­drawals by third par­ties have been re­ported on the rise. It is per­haps op­por­tune to is­sue this re­minder. Es­sen­tially, it is about keep­ing our User IDs and pass­words safe. One nor­mally reads this re­minder on our bank’s web­site. This is what the bank usu­ally tells us.

1. The bank will never ask you to pro­vide your User IDs or Pass­words through e-mail or SMS so don’t fall for un­so­licited mes­sages that your ac­count has been tem­po­rar­ily dis­con­nected and that you have to change your pass­word.

2. Never click on links from sus­pi­cious e-mails and SMS. Hack­ers can gain ac­cess to your ac­count, plant mal­ware, and steal your iden­tity.

3. Mon­i­tor your ac­counts reg­u­larly and im­me­di­ately re­port any dis­crep­an­cies.

If I may just add, don’t ask any­body to with­draw money from the ATM for you. For added pro­tec­tion, you may want to use Code Red, an RFID and NFC Anti-Scan­ning Card. It is a smart card that pro­vides pro­tec­tion from iden­tity theft by ma­nip­u­lat­ing the ra­dio sig­nals us­ing E-field tech­nol­ogy. Sim­ply put it in­side your wal­let and it will make your per­sonal data in­vis­i­ble to elec­tronic thieves and hack­ers. (Thanks BPI EVP Mon Joc­son for this last tip.)

Note: You may wish to share the fore­go­ing ar­ti­cle via Face­book, Twit­ter and/or Linked-In.

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