San Miguel Corporation (SMC) recently received its third gold award at the annual The Asset Corporate Awards – a recognition given to listed companies that adhere to environmental, social, and corporate governance (ESG) best practices.
The award was received by SMC Chief Finance Officer Ferdinand K. Constantino at ceremonies held in Hong Kong.
Organized by The Asset magazine, The Asset Corporate Awards is one of the world’s longest-running awards program on ESG. Companies are evaluated on the quality of their ESG initiatives and performance.
“We are grateful for this recognition from The Asset,” said SMC president and chief operating officer Ramon S. Ang in a statement. “As one of the country’s leading conglomerates, corporate governance, social responsibility, and sustainability have long been part of our company’s history and operations.”
“Nevertheless, this kind of recognition serves to inspire us and our employees to push harder and initiate more programs that will continuously improve our ESG, and deliver the company’s commitment to our customers and stakeholders,” he added.
In recent years, along with its ongoing expansion, San Miguel has been ramping up efforts to address major sustainability challenges. In early 2017, it initiated an ambitious water sustainability program that aims to cut the use of water across all its businesses by 50% by 2025.
Also in the same year, it discontinued its plastic bottled water to help minimize solid waste pollution in oceans and other bodies of water.
This year, the company announced an initiative to set up a zero-waste community that will function as a model and an incubator for livelihood programs.
It also committed to develop a materials recovery and recycling center for plastic wastes. The company said it hopes to replicate the facility in many areas in the Philippines to make small-scale plastic recycling accessible to communities.
“Our company is one of the oldest in the country at 128 years. As such, throughout our organization, our corporate values are well-established and strong. Driven by the Filipino value of ‘malasakit,’ one of our core values is, ‘We do what is right.’ This guides our decisions, whether it’s in the area of governance, CSR, or sustainability,” Ang said.
SMC is one of the Philippines’ most diversified and largest conglomerates, whose companies occupy leadership positions in key industries such as food and beverage; packaging; fuel and oil, power generation, and infrastructure.