JG Summit Holdings, Inc. (JGSHI) today released its first Sustainability Report which discloses the conglomerate's impact on economic, environmental and social performance in 2019.
This inaugural report is the culmination of the transformative process of one of the country's most diversified business conglomerates to build a Sustainability plan that will enable it to thrive in the ever-evolving competitive landscape, mitigate environmental and economic risks to the company, and create long-term growth that will drive nation building.
“As part of our transformative journey, we anchor our strategic directions from our new Purpose of an unrelenting commitment to provide our customers with better choices, creating shared success with our stakeholders,” said Lance Y. Gokongwei, JG Summit President and Chief Executive Officer.
In disclosing its financial as well as non-financial performance and impacts in this maiden Sustainability Report, JG Summit have utilized a Gokongwei Group Sustainability Framework anchored on five key areas that represent topics most material to its businesses and stakeholders, namely: Shared Success, Climate Action, Resource Efficiency and Circularity, Better Choices, and Employee Engagement and Development. This Sustainability framework utilizes the core reporting principles set by Global Reporting Initiative (GRI) standards, one of the most widely used and accepted Sustainability reporting frameworks in the global business community.
For the focus area of Shared Success, the conglomerate is aiming for inclusive growth, emphasizing on social investment initiatives and more equitable opportunities for wealth creation and sharing. Backed by a well-diversified portfolio, it continues to bring long-term value to its stakeholders through the economic opportunities that its business activities provide.
Acknowledging the relationship between the environment and its businesses, the Climate Action focus is directed at reducing or offsetting carbon emissions and strengthening climate-related risk management, along with the focus on Resource Efficiency and Circularity, which seeks to optimize waste management and the use of natural resources.
The focus on Better Choices, on the other hand, is in recognition of the fact that sustained success for the conglomerate and its stakeholders ultimately depends on the consistent delivery of high-quality products and services. As part of JG Summit’s commitment to help improve the quality of life of Filipinos, there is a need to continuously enhance access to safe and high-quality products and services for everyday consumers.
Meanwhile, the focus on Employee Engagement and Development recognizes human resources and talent as vital in the continued growth and success of the conglomerate.
“Our contributions and relevance to society are centered on these pillars, which are aligned with the United Nations’ Sustainable Development Goals. With this longer-term and broader view of our stakeholder commitment, we establish the foundation that will enable the Gokongwei Group to achieve our three- to five-year goals where Sustainability will be one of our main enablers in achieving our Ambition,” Gokongwei added.
The 2019 Sustainability Report, with its baseline metrics identified for each pillar, serves as the starting point for JG Summit in measuring its Sustainability performance moving forward.
JG Summit comprises strategic business units in aviation (Cebu Pacific), food and beverage (Universal Robina Corporation), real estate and property development (Robinsons Land), banking and finance (Robinsons Bank), and petrochemicals (JG Summit Petrochemicals); along with emerging new businesses in information and digital technology, infrastructure and logistics, as well as investments in utilities such as power and telecommunications. Together with affiliate businesses clusters in retail (Robinsons Retail Holdings, Inc.) and media (Summit Media Group), JG Summit and its subsidiaries lead the Gokongwei Group’s landmark pivot to Sustainability.