Ayala Land identifies and manages economic, environmental and social issues and topics that are material to its stakeholders and core businesses. These topics are aligned with UN Sustainable Development Goals (SDGs), six capitals of the Integrated Reporting <IR> Framework, Global Reporting Initiative (GRI) Indicators, Sustainability Accounting Standards Board (SASB) Material Topics, and Task Force on Climate-Related Financial Disclosures (TCFD) Recommendations.
The results of the company’s materiality assessment in 2013 identifying sustainability focus areas remain relevant today, along with material issues emerging from the COVID-19 pandemic. Based on discussions within the company’s business units, customer surveys, media reports, and the Board-level Sustainability Committee, four sustainability concerns were identified for the Philippine development: vulnerability to the effects of climate change and natural disasters; need for pedestrian mobility in urban areas; continuing loss of natural resources; and socio-economic imbalances.
These results led to the determination of Ayala Land’s Sustainability Four Focus Areas: site resilience, pedestrian mobility and transit connectivity, resource efficiency, and local economic development. Ayala Land regularly consults with company stakeholders to refine the goals and metrics of each focus area.
Ayala Land regularly holds iterative consultations with company stakeholders to refine the goals and metrics of each focus area.
Ayala Land identifies and manages economic, environmental and social issues and topics that are material to its stakeholders and core businesses, aligned with the UN Sustainable Development Goals (SDGs), the six capitals of the Integrated Reporting <IR> Framework, Global Reporting Initiative (GRI) Indicators, Sustainability Accounting Standards Board (SASB) Material Topics, and Task Force on Climate-Related Financial Disclosures (TCFD) Recommendations.
From the company’s 2013 Materiality Assessment and focused discussions within the company’s business units, stakeholder surveys, media reports, and the Board-level Sustainability Committee, four aspects were identified as essential for Philippine development: vulnerability to the effects of climate change and natural disasters; need for pedestrian mobility in urban areas; continuing loss of natural resources; and socio-economic imbalances.
The results from the assessment led to the determination of Ayala Land’s Sustainability Four Focus Areas: site resilience, pedestrian mobility and transit connectivity, resource efficiency, and local economic development.
While these focus areas remain relevant today, emerging climate concerns and external factors have prompted us to conduct a double materiality assessment to strengthen our ESG approach. Details of the double materiality assessment are discussed below.
To measure Ayala Land’s performance and report its impact on local and global development, Ayala Land identified UN SDGs and GRI, SASB and TCFD topics that correspond to the four focus areas and other material topics.
Ayala Land is committed enhancing its ability to quantify and assess the impacts of its operations on society, business, and the environment. The conduct of a comprehensive Materiality Review will shape the framework of our sustainability strategy, guiding the development of policies and projects aimed at mitigating the negative impacts and enhancing the positive impacts. Furthermore, future company disclosures will be aligned with International Financial Reporting Standards (IFRS) requirements, specifically for sustainability-related financial information (S1) and climate-related disclosures (S2) for the succeeding reporting periods.
Ayala Land conducts an annual review its material topics through discussions with stakeholders and core businesses. Adhering to the materiality assessment practices of the IIRC, GRI, and SASB reporting standards,, thirty (30) material topics were considered for review. These were derived based on the company’s current ESG approach and focus areas, through a peer benchmarking analysis, and by reviewing existing and upcoming regulatory standards and frameworks.
Under a double materiality approach, Ayala Land’s ESG topics were assessed by the company’s impacts to the environment and society and by the impact of the external environment on the company’s financial performance how we create value.
Representatives from a range of relevant stakeholder groups were invited to provide feedback on the identified material topics to obtain a perspective on the relative importance of the company’s material issues as it impacts our stakeholders and our business.
Results from the double materiality assessment plotted the 30 material topics into three distinct categories on an impact matrix.
