Sustainable Company Awards 2023

Large enterprise of the year, APAC; Energy efficiency initiative of the year, APAC; Net zero progression of the year, APAC; Sustainability reporting of the year, APAC: Globe Telecom

Globe Telecom has been recognised in four categories for the Asia-Pacific region at the Environmental Finance Sustainable Company Awards 2023.

Winning the accolades for Energy efficiency initiative of the year and Net zero progression of the year in the region, the Philippines-based company telecommunications and digital solutions company was commended by one judge for having "made progress in making a risk-and opportunity assessment of possible net zero pathways".

As of 2022, some areas of improvement include:

  • A 50% reduction in fuel consumption on average and 50% savings across pilot sites deployed with hybrid alternative power sources.
  • 1% to 7% energy savings from automated power saving solutions in deployed equipment.
  • 3.60 MW monthly capacity increase from upgrading to high-efficiency rectifier systems (96% efficiency versus 92.5%) which can be used to power other network equipment.

In 2022, Globe says it has reduced its Scope 1 and 2 greenhouse gas (GHG) emissions by 4.42%, against an interim target of 4.2%. Moving forward, the company plans to establish reduction targets for its Scope 3 emissions.

The results of its GHG baselining activity show that these account for approximately 1.8 million tonnes of carbon dioxide equivalent (around 77%) of its total GHG emissions.

Globe submitted its targets to the Science Based Targets initiative (SBTi) in June 2023 and says it is the first publicly listed Philippine-based company to set targets with the SBTi.

Also winning the award for Sustainability reporting of the year in the region, one judge described Globe as "an excellent example of reporting based on the Integrated Reporting Framework [with] clear articulation of how the company uses its resources to create value to society".

In 2022, its annual report disclosed GHG baseline accounting detailing Scope 1, 2 and initial Scope 3 emissions. The report also details its support of the Task Force on Climate-related Financial Disclosures (TCFD) and adoption of the Global System for Mobile Communications Association (GSMA) ESG Metrics for Mobile, a sector-specific ESG reporting framework.

The company reports a positive response from its stakeholders, an MSCI AA rating (as of August 2023), a CDP for environmental transparency B rating and has been included as a constituent company in FTSE4Good Index Series for the eighth year.

Finally, winning the regional Large enterprise of the year award, alongside advances Globe says it has made in energy efficiency, progression to net zero and its sustainability reporting, the company reports significant strides in integrating sustainability in its business operations. The company says its FinTech, HealthTech, EduTech, and ClimaTech businesses have advanced. It reports that in 2022, its mobile-first fintech app GCash was used by millions of Filipinos, lessening the number of unbanked in the country and that its A2P messaging platform m360 provided support during Typhoon Odette, via 30-days free SMS blasts that were used by the local government units (LGUs) of Palawan, Visayas and Mindanao and benefitted at least 83 towns.

Globe Group chief sustainability and corporate communications officer Yoly Crisanto commented: "Our sustainability journey started earlier than most in the Philippines, and we are grateful to have been recognised for the milestones we've achieved so far, especially alongside our counterparts in the Asia Pacific region.

"As the leading digital solutions platform in the Philippines, we ground our sustainability practice on our core values and purpose – in that, in everything we do, we strive to create positive societal and environmental impact for those around us, that we may create a Globe of Good."