WEST ZONE concessionaire Maynilad Water Services, Inc. said it has received a “medium green” rating from S&P Global Ratings, highlighting its low-carbon initiatives through service programs.
In a statement on Monday, Maynilad said the credit watchdog issued a Climate Transition Assessment (CTA) on the company, reflecting the water company’s service improvement initiatives.
These include non-revenue water reduction, potable water reuse through Maynilad’s New Water project, watershed restoration, and infrastructure upgrades.
“This independent assessment provides a transparent benchmark of our climate transition efforts,” said Maynilad Chief Sustainability Officer Roel S. Espiritu. “It highlights both our progress and the areas where we can continue to strengthen.”
The CTA provides a qualitative opinion on how prepared a company is for the transition to a lower-carbon economy, considering governance, strategy, risk management, and climate-related targets.
S&P said all of Maynilad’s revenues come from activities it classifies as environmentally sustainable under its CTA framework.
The report also confirmed the company’s alignment with international sustainability standards, including the International Finance Corporation’s guidance for blue finance and the World Federation of Exchanges’ Green Equity Principles.
Maynilad serves certain portions of Manila, Quezon City, and Makati. It also operates in Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon. Additionally, it supplies the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.
Pangilinan-led conglomerate Metro Pacific Investments Corp., which holds a majority stake in Maynilad, is one of three Philippine subsidiaries of First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
