Leading digital solutions platform Globe has retained its B rating from the CDP (formerly the Carbon Disclosure Project), a global non-profit that runs the world’s leading environmental disclosure platform, proving its commitment to climate action and environmental transparency.
“Our latest CDP rating reaffirms our commitment to climate action through business strategies, operations, and transparency, responsive to the urgency of climate change. We will continue to address climate-related risks as we endeavor to stay on track in our net zero commitment,” said Globe Group Chief Sustainability and Corporate Communications Officer Yoly Crisanto.
Globe regularly discloses its business milestones related to climate action to the CDP to report its progress in achieving its environment-related targets. Under CDP’s metrics, organizations are rated from a scale of A to F, with A being the highest environmental performance rating.
Globe’s B rating shows that the company has made significant progress to address climate-related risks that affect the business through climate action programs. Under the scoring system, CDP awards management points when it finds evidence of good environmental management in a company.
Environment, Social, and Governance (ESG) ratings have become a critical tool in assessing the soundness of a business’ ESG-linked risk management strategies and is used by investors to measure overall sustainability performance. Good ESG ratings make businesses more attractive to investors and improve overall brand value for customers.
By disclosing through CDP, Globe is responding to the increasing demand for environmental transparency from financial institutions, customers and policymakers. Globe has been consistently at the forefront of climate action and environmentally responsible practices, making sustainability a critical pillar of business.
As Globe integrates sustainability in its operations, it continues to shift its high energy utilization facilities to renewable energy, with 24 sites running on clean power sources to date. This was made possible through Power Purchase Agreements (PPAs) with Retail Electricity Suppliers (RES) aligned with the Philippine’s policy on renewable energy utilization.
It has also deployed over 8,500 green network solutions such as the use of the following: cleaner, lower-emission fuel, more energy-efficient lithium ion batteries that generate less waste, direct-current generators that are less fuel-hungry, free-cooling systems in place of air-conditioning units and a fuel cell system that emits less carbon emissions.
This year, Globe also piloted hybrid power alternative sources for cell towers in areas that are remote or have poor reception in Northern Luzon, Southern Luzon and Metro Manila to reduce its operational greenhouse gas emissions.
These hybrid power alternative sources utilize a renewable energy component such as a Solar Photovoltaic (PV) system as the initial power source, supported via a second form of generator and/or storage such as a diesel genset and/or battery storage system that activates once the solar energy is depleted or unavailable.
Globe also makes sure business partners, vendors, suppliers and customers follow sustainable business practices by integrating sustainability requirements in vendor onboarding and project assessment criteria.
The company’s Environmental Sustainability Policy also encourages its partners to develop, build, and implement their own climate action programs aligned with the guidelines and principles being implemented at Globe.
In 2021, it became the first Philippine company to commit to set science-based emissions reduction targets to halve its Scope 1 and 2 emissions by 2030 aligned with the Paris Agreement and #RacetoZero Campaign.