Accelerating the Transition to Net Zero

At the signing of the memorandum of understanding on September 25 are IFC Country Lead for the Philippines and Pacific Islands Angelo Tan, Country Manager for the Philippines Jean-Marc Arbogast, and Climate Business Department Senior Manager Diep Nguyen-van Houtte, ALI President and CEO Meean Dy, AREIT President and CEO Carol Torres-Mills, and Ayala Land Offices COO Francis Roxas

Ayala Land and the International Finance Corporation (IFC) have begun a partnership that would help accelerate the transition of the Philippine property sector toward net zero.

With advisory support from IFC, ALI and listed subsidiary AREIT are aiming to achieve EDGE Zero Carbon certification across their portfolios within the next two years. This ambitious undertaking will establish the Philippines’ largest EDGE Zero Carbon portfolio, comprising 900,000 square meters to be certified by 2024, and an additional 600,000 square meters by 2025.

Said AREIT President and CEO and Ayala Land Offices Head Carol T. Mills: “For Ayala Land and AREIT, this highest level of EDGE is what we are aiming to secure in line with our goal to become the largest EDGE Champion in the Philippines. We believe achieving zero carbon in our buildings will yield not only for ourselves but also for our valued office locators the most substantial, relevant, and much needed contribution towards long-term sustainability and environmental responsibility.”

The certification of these properties within the ALI group‘s leasing portfolio entails optimizing energy and water utilization while significantly reducing embodied carbon within construction materials. Notably, 1.3 million sqm of ALI and AREIT’s portfolio already operate entirely on renewable energy sources, a commitment that remains for all future developments.

“The Ayala group is a longtime partner on sustainability initiatives, and I look forward to welcoming Ayala Land and AREIT as EDGE Champions,” said IFC Country Manager for the Philippines Jean-Marc Arbogast. “In many ways, it’s much harder to green existing infrastructure. Ayala Land’s pledge to certify its portfolio as zero carbon underscores their deep commitment to net zero and whole-portfolio decarbonization.”

ALI has always operated with an unwavering dedication to sustainability. This partnership with IFC is just one of the many steps that we are taking towards our sustainability goals. Together with our partners, we will continue to innovate and guide the industry, continuing to be a leader in sustainable development.

MEEAN DY
ALI President and CEO