MANILA – The Manila Water Company (Manila Water) has obtained a “Management B” rating for its CDP Climate Change and Water Security Disclosures for 2022.
Manila Water upgraded its climate change rating from awareness level (C) to management level (B), while maintaining its water security management level rating.
The CDP, originally known as the Carbon Disclosure Project, aspires to make environmental reporting and risk management a business standard, promoting disclosure, understanding, and action toward a more sustainable economy.
In a statement issued on Tuesday, Manila Water’s Sustainability Head Sarah Bergado stated that the company’s climate change adaptation and mitigation measures would contribute to the United Nations Sustainable Development Goals on Climate Action and the Paris Agreement.
“We develop our infrastructure to be climate resilient as we work to adopt nature-based solutions like watershed conservation and reforestation to adapt to and reduce climate change,” Bergado explained.
“We are building our net zero and decarbonization roadmap in collaboration with South Pole, an international climate solutions provider, to minimize our greenhouse gas emissions across the value chain,” she added.
On the CDP Score Report on Climate Change for 2022, Manila Water’s B grade is now higher than the Asia regional average of C, as well as the global average and non-energy utilities sector average of C.
In addition, the water business received a B rating on the CDP Score Report for Water Security for 2022, placing it in the management band.
This is the same as the Asia regional average of B, although it is higher than the non-energy utility sector and global average, both of which are rated C.
Manila Water’s B ratings reflect the company’s strengthened climate actions, which are a testament to the company’s efforts to address the risks and opportunities posed by climate change, as well as the firm’s unwavering commitment to providing “24/7” water and wastewater services to customers within its service areas.
The CDP Worldwide is a non-profit organization that operates a global disclosure system for companies to measure and manage their risks and opportunities related to climate change, water security, and deforestation. It is also a valued partner of the United Nations in collecting data related to its Sustainable Development Goals.
It is also a United Nations-Water (UN-Water) partner in collecting business data relating to contributions to SDG 6 – Clean Water and Sanitation indicators, including 6.3 – Wastewater, 6.4 – Water Use Efficiency, and 6.6 – Ecosystems.
Source: PNA