Conglomerate Ayala Corp. said Thursday it aims to achieve net zero greenhouse gas emissions by 2050.
”As Ayala’s concrete contribution to the well-being of future generations of Filipinos, we are announcing our commitment to achieve net zero greenhouse gas emissions by 2050,” Ayala Corp. president and chief executive Fernando Zobel de Ayala said during the group’s sustainability summit Thursday.
“We are aligning ourselves with the global movement for climate action as our way to help secure our country’s future from the threats brought by climate change. We believe that we have the capabilities and collective will to make this happen,” he said.
The conglomerate said it is aligning its business strategy with the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius compared to pre-industrial levels.
Prior to Ayala’s net zero by 2050 announcement, its core business units initiated climate-action initiatives.