Ayala Land says it reached 91% carbon neutrality

Property giant Ayala Land Inc. said Tuesday it achieved 91% carbon neutrality in its commercial properties and was on track to achieve its 100% target by next year.

In a statement, Ayala Land Estate Group head of Corporate Services Manny Blas explained that carbon neutrality meant that all of the greenhouse gases discharged by its malls, offices, hotels, and resorts because of its use of fossil fuels would be reduced and offset by the end of 2022 by “switching to renewable energy and nurturing and protecting 586 hectares of its land bank which it designated as a carbon forests.”

“We’re confident we will hit our target by the end of next year,” Blas said.

Ayala Land's estate group embarked on the program in 2017 to reduce its carbon footprint to zero in five years.

This supports the country’s goal to reduce greenhouse gas emissions by 70% in 2030 as part of a global commitment to address climate change, according to the company.

Achieving carbon neutrality calls for a combination of measures that include the use of renewable energy; the use of natural lighting and ventilation, and energy-efficient cooling facilities; and offsetting emissions with natural regeneration efforts like tree planting and reforestation.

Blas said that 63% of Ayala Land’s total gross leasable area of commercial properties were now using renewable energy; 25,000 trees were planted across 24 hectares of its carbon forests in 2020 alone; and 80% of the total carbon forest area were covered with trees.

The company’s sustainability campaign was granted an “A-” leadership rating on climate change by the Carbon Disclosure Project.

It was included as a member of the SAM Sustainability Yearbook 2020 of S&P Global for achieving a score in the top 15% of the industry, and was granted the 3G ESG Championship Award for the Philippines by Cambridge IFA, according to Ayala Land.

The Philippine Chamber of Commerce also gave a special citation to Ayala Land in the 2020 Excellence in Ecology and Economy Awards. — DVM, GMA News