Ayala

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Ayala increased renewable energy share in purchased electricity across the Ayala Group to 76%, up from 35% in 2021. Total RE share in energy consumption reached 60%. Seven Ayala companies (BPI, Globe, Ayala Land, ACMobility, AC Health, AC Logistics, iPeople) source renewable electricity through ACEN Renewable Energy Solutions (ACEN RES), which supplies 100% renewable energy backed by ACEN's own generation plants. Ayala Land has transitioned 104 commercial properties (98% of GLA) to renewable energy via the Green Energy Option Program (GEOP). ACEN achieved 100% RE generation across its 7 GW attributable renewable capacity portfolio in 2025.

Ayala partnered with DENR in July 2025 for the Forests for Life program, committing to plant and sustain at least 5 million trees by 2028 across priority watershed areas in Ilocos Norte, Bataan, Rizal, Leyte, Bukidnon, and Lanao del Norte. ACEN applies tree replacement at 1:50 or 1:100 ratio. Ayala Land integrates reforestation initiatives and carbon forest programs within its land bank. The company is also evaluating use of carbon credits and other market-based instruments to support its net-zero commitment, monitoring developments through WBCSD participation.

• Renewable electricity sourcing for own operations

  Ayala companies (Ayala Land, Globe, BPI, IMI, AC Health, ACMobility) are increasing renewable electricity in operations through ACEN RES under GEOP. 30% improvement in GHG intensity and 58% reduction in Scope 1 and Scope 2 emissions compared to 2021 baseline. 46 BPI branches qualified under Retail Aggregation Program for 100% renewable energy.

• Energy efficiency across buildings and networks

  Ayala Land/APMC retrofitting common areas with LED lighting, HVAC optimization via VFDs and BMS. Globe deployed AI/ML technologies optimizing network energy, reducing electricity consumption by 11.3 million kWh in 2024 (~₱125M savings). 62 green-certified Ayala Land properties. ATG Tower Two achieved LEED Gold and WELL v2 Platinum.

• Electric vehicle deployment and EV charging infrastructure

  ACMobility installed 419 electrified charge points (346 AC, 73 DC) across 166 locations with ~15,000 kW output. 51% of network powered by RE. EV charging stations recorded 921,811 kWh sold with 797,697 kWh sourced from RE (58.9% RE), avoiding ~1,094.9 tons of GHG emissions. ACMobility achieved 82% NEV market share. Globe integrating EVs into transport services. Ayala Land's MDC introduced electric-powered heavy construction equipment.

• Real estate decarbonisation — green steel and SBTi target

  Ayala Land, the first publicly listed Philippine property developer with SBTi-validated net-zero targets, aims for 42% Scope 1+2 reduction and 29.4% Scope 3 reduction by 2030 (2021 baseline) and 90% reduction by 2050. In 2024, 24% of total rebar purchases came from SteelAsia's green steel (0.36 tCO2/ton vs 2.32 tCO2/ton conventional). A ₱250/tCO2e internal carbon fee applies to commercial properties not yet on renewable energy.

• Coal early-retirement via Transition Credits at ACEN

  ACEN partnered with GenZero and Keppel Ltd. to explore high-integrity Transition Credits as a financial mechanism to accelerate early retirement of the 246 MW SLTEC coal plant in Batangas by 2030 — one of the first projects globally to pioneer the use of TCs for early coal retirement. ACEN's near-term SBTi-aligned targets include 73.6% reduction in Scope 1 from own generation by 2030 and 94.5% by 2040.

• Use of sold products - energy efficient housing & products

  Use of sold products accounts for 21% of Ayala's baseline emissions, split across Ayala Land's sold properties, IMI's electronic products and AC Industrials' vehicles. Decarbonization strategies include designing more energy-efficient housing, greater granularity for electronic products and exclusively selling EVs in the future. ACMobility's EV distribution (BYD, Kia EV6, Gogoro) is central to this lever.

• Electric vehicle infrastructure rollout

  ACMobility, Ayala's mobility platform, became the national distributor of BYD (one of the world's largest EV manufacturers) and built 20 EV charging stations across Metro Manila. Globe, AC, and 917Ventures launched Gogoro electric scooters with battery-swapping technology. IMI partnered with Zero Motorcycles to assemble e-bikes at its Laguna plant. Ayala Land puts up fast-charging stations across its properties.

• Supplier engagement for purchased goods & services

  Purchased goods & services represent 23% of Ayala's baseline emissions, primarily Ayala Land's steel/cement purchases and IMI's procured materials. Supplier engagement is identified as the biggest decarbonization opportunity. Globe launched Sustainability Academy for Supply Chain to upskill MSME suppliers on ESG. Globe published an updated Supplier Code of Ethics and Sustainable Supply Chain Policy Commitment.

• Telco network energy efficiency at Globe

  Globe deployed 6,948 Green Network Solutions to improve cell site energy efficiency. Partnered with AC Energy to achieve carbon neutrality for select corporate offices. Paperless billing operations saved 655 tons of paper. GCash Forest engaged 1.7M customers in cashless transactions linked to tree planting.

• Eco-efficiency and renewable electricity for real estate operations

  Ayala Land targets carbon neutrality by 2022. The company avoided about 121,951 tonnes CO2e by shifting to renewable energy use, implemented passive cooling and sustainable architecture at planning level, and achieved a 72% reduction in commercial properties' net GHG emissions in 2019. Energy and water conservation programs span efficient equipment investments and operational improvements.

• Climate resilience and water efficiency at Manila Water

  Manila Water conducted resiliency assessment and business impact studies of Manila and Laguna facilities, retrofitted facilities for disaster resilience, and built new assets in locations not exposed to flood hazards. Reduced enterprise-wide non-revenue water from 9.6% to 9.0% in 2019. Treated 64.2M cubic meters wastewater and removed 13,440 tonnes of organic pollutants.

• Energy generation portfolio transition from thermal to renewables

  AC Energy is actively shifting its generation portfolio away from coal. In 2019, partial divestment of thermal assets (60% economic interest in AA Thermal to Aboitiz Power; transfer of Kauswagan coal project to Power Partners) recycled capital into renewables. SLTEC coal plant Unit 2 shutdown in Q3 2018 reduced coal energy consumption. Group Scope 1 emissions fell 38% in 2019 to 1M tCO2e on equity basis.

• Scope 3 supplier engagement and low-carbon procurement

  Ayala Land collaborates with SteelAsia to source lower-carbon steel produced using recycled materials and renewable energy. Globe integrates sustainability into procurement, supplier accreditation, and vendor performance monitoring. IMI implements supplier sustainability requirements through supplier code of conduct, self-assessments, and audits. ACEN incorporates sustainability into supplier engagement.

• Low-carbon products and services portfolio

  Ayala companies enable decarbonization through ACEN's renewable energy generation (7 GW attributable capacity, 100% RE portfolio achieved 2025), electric mobility platforms via ACMobility (largest NEV market share at 82%), EV charging infrastructure, and green-certified buildings by Ayala Land. ACEN RES supplies 482 MW retail portfolio to 753 commercial and industrial customers, avoiding ~329,003 tCO2e/MW.

• Sustainable finance mobilization

  Since 2019 issuance of inaugural green bond, Ayala Group has mobilized $6.9 billion in sustainable finance including green/social bonds, sustainability-linked loans, and blended finance. Includes social bond with IFC for cancer care hospital, $100M blended finance facility with ADB and CANPA for EV charging network, sustainability-linked loans tied to net-zero performance targets, and inaugural A- JCR rating enabling yen-denominated samurai loan.

• Sustainable finance — US$6.2bn since 2019

  The Ayala Group has closed US$6.2 billion in sustainable financing since its first green bond in 2019 (ACEIC US$400M). 2024 facilities include a US$100M ADB blended finance deal for EVs (ACMobility), €50M ING social loan for AC Health, and ₱2.5B MUFG sustainability-linked loan. BPI issued ₱33.7B Sustainable, Environmental, and Equitable Development Bonds. The new Sustainable Investment Framework embeds GHG, resource efficiency, and social impact lenses into investment committee decisions.

• Scope 3 value-chain engagement (97% of emissions)

  97% of Ayala's total emissions in 2023 came from Scope 3 sources, with major contributions from ACEIC thermal assets (Category 15 Investments), fuel-and-energy related activities, and IMI's purchased goods and use of sold products. Ayala is strengthening supplier engagement through capacity-building programs and customer enablement of lower-carbon choices, while accelerating value-chain emissions reduction through cleaner energy sources, energy efficiency, and low-carbon technologies.

• Electric vehicle ecosystem via ACMobility

  ACMobility leads the Philippine shift to new energy vehicles (NEVs) with 82% NEV market share and 23,483 unit sales in 2024 (+46% y/y). It expanded EV charging infrastructure to 215 charge points (141 electrified) and secured a US$100M ADB blended finance facility plus US$15M concessional loan from the Canadian Climate and Nature Fund to install up to 1,700 EV charging stations. Partnerships with Ayala Land, BPI, Globe, and ACEN scale the EV ecosystem with renewable-powered chargers.

• Coal-to-clean Energy Transition Mechanism

  ACEN implemented the world's first market-based Energy Transition Mechanism for the 246 MW SLTEC coal plant, with retirement targeted by 2040 or after 25 years of operation. In 2023, ACEN partnered with Rockefeller Foundation's Coal to Clean Credit Initiative and Monetary Authority of Singapore to pilot Transition Credits at COP28, potentially accelerating SLTEC retirement to 2030. ACEIC also fully divested GN Power Kauswagan coal-fired plant in 2023.

• Financed emissions (Scope 3 Cat 15) management

  As a holding company, 96% of Ayala Corporation parent's emissions come from investment activities (Scope 3 Cat 15), primarily from Globe, BPI and Manila Water operational emissions. Ayala steers its investees toward decarbonization through governance and capital allocation. Ayala developed a Sustainability Linked Financing Framework aligned with net zero commitments; the Group has raised ~US$3.4 billion in sustainable finance transactions.

• Low-emission vehicle distribution and EV enablement at AC Industrials

  AC Industrials' AC Motors offers fuel and eco-efficient automotive models and is exploring more eco-efficient vehicles. IMI generated 10.8 MW of renewable energy via Solar Pilot Project Initiative using Merlin Solar technology in Laguna site, avoiding ~10 tonnes CO2e. AC Industrials is building capacity to enable local adoption of electric vehicles.

• Green finance and sustainable lending at BPI

  BPI established Green Finance Framework setting guidelines for green bonds and loans. Issued two landmark green bonds in 2019: CHF100M ASEAN Green Bond and US$300M green bond. Disbursed PHP10.14B for energy efficiency, renewable energy, and climate resilience projects under Sustainable Energy Financing (SEF) program; PHP2.17B for large renewable energy projects under Structured Finance Division.