West Zone concessionaire Maynilad Water Services Inc. received a “medium green” rating in a Climate Transition Assessment from S&P Global Ratings, recognizing its progress toward sustainable operations.
S&P, a global provider of credit and sustainability evaluations, said the rating shows Maynilad’s readiness for a lower-carbon economy, based on its governance, strategy, risk management, and climate goals. The report noted that all of Maynilad’s revenue comes from environmentally sustainable activities.
The assessment also confirmed Maynilad’s alignment with international standards, including guidance for blue finance from the International Finance Corporation and the Green Equity Principles of the World Federation of Exchanges.
S&P cited Maynilad’s service improvement initiatives, such as reducing non-revenue water, advancing potable water reuse through its New Water project, restoring watersheds, and upgrading infrastructure. The company aims to provide essential water and wastewater services to more than 10 million people.
The agency also highlighted Maynilad’s goal of carbon neutrality, calling it “ambitious in the context of the Philippines,” which currently lacks a national net-zero commitment.
“This independent assessment provides a transparent benchmark of our climate transition efforts,” said Roel Espiritu, Maynilad’s chief sustainability officer. “It highlights both our progress and the areas where we can continue to strengthen.”
