Sustainability goes hand in hand with ethics

Sustainability is more than a buzzword. The United Nations defines it as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” At its core, sustainability means balance — protecting the environment, ensuring social equity, and driving economic growth in harmony, not in conflict. It is about building systems that last, grounded on trust, resilience, and responsibility.

The Philippines faces climate extremes — typhoons, floods, droughts and earthquakes that destroy lives and livelihoods. This year alone, millions of Filipinos have been affected, with billions of pesos worth of damage to agriculture and infrastructure. Rising heat indices, erratic rainfall, and food security risks paint a sobering picture: climate change is no longer a future threat but a present reality. Sustainability and climate action can no longer be afterthoughts. They are strategic imperatives for resilience.

To adapt, billions of pesos were poured into flood control projects. But recent developments have revealed “ghost” and substandard projects due to some entities asking for huge “commissions.” Instead of protecting communities, these projects erode trust and waste resources that could have saved lives — the very opposite of sustainability. Sooner or later, corruption is exposed — undermining resilience, wasting public funds, and deepening inequality. Corruption destroys not just infrastructure but the public’s trust upon which lasting development is built.

Ethics is about doing the right thing even when no one is watching. We cannot have sustainability without ethics — they go hand in hand. It ensures that decisions made today will not harm tomorrow. A project may be labeled “green” or “sustainable” but if is riddled with dishonesty, it cannot truly serve the people or the planet. Ethics is the soil in which sustainability grows. Without it, resilience cannot take root. Integrity, transparency, and accountability are not add-ons to sustainability — they are its foundation.

We stand at a crossroads today. Let’s stop the “business as usual” where corruption (it’s so scandalous that it’s beyond the imagination of the telenovelas and Netflix combined) eats away at progress. Let’s choose and move towards the path of ethical sustainability, where ethics guide our decisions, resources are managed wisely and resilience becomes our legacy.

The private sector also has a vital role in shaping a sustainable future. A recent example is the Philippine National Bank’s  2025 Summit for Sustainable Growth held last August with the theme “Inspire, Innovate, Ignite,” led by PNB Sustainability Head Jean Marie Baruelo. The bank reaffirmed its commitment to people, planet and prosperity — the three cornerstones of a holistic approach to development. The summit also underscored support for the United Nations Sustainability Development Goals and the Philippine Development Plan or Ambisyon 2040. highlighting that sustainability is both a business imperative and a national mission.

Speakers included BSP Sustainability Officer Pia Roman-Tayag, who said that sustainability must move from framework to behavior and emphasized three key imperatives: recognizing climate risk in financial planning, embedding sustainability into daily operations and mobilizing financing for climate adaptation. She pointed out the use of blended finance models to support ESG initiatives, particularly for SMEs. “Adaptation finance is not just a moral imperative — it’s a strategic one,” she said.

PNB President Edwin Bautista urged the bank to revisit its business models by embracing both digital transformation and sustainability as key growth drivers, adding that financial discipline must go hand in hand with governance and a strong digital strategy to keep the bank competitive and relevant, and stressing that sustainability requires leadership that sees beyond quarterly earnings to create long-term impact and shared value for stakeholders. PNB Director and Corporate Governance Chair Geocel Olanday highlighted the importance of collective responsibility in future-proofing the bank.

Sustainability is not just a theory — it is a call to action. It calls on the government to ensure that every peso of public funds is spent honestly and effectively. It calls on companies to embed sustainability into their DNA and not just their marketing. Let us be vigilant and engaged, demand transparency, and support ethical leadership. After all, sustainability is not just about planting trees or building infrastructure — it is about reshaping systems to serve the common good for the long term.

The views expressed herein are the author’s own and do not necessarily reflect the opinion of her office as well as FINEX.

Flor G. Tarriela is a banker and an environmentalist/gardener. She founded Flor’s Garden in Antipolo, an events destination and an accredited ATI National Extension Service Provider.