Meralco launches sustainability scorecard
MANILA Electric Co. (Meralco) vowed to strengthen and operationalize its sustainability agenda with the adoption of a sustainability scorecard covering the company’s entire value chain.
“Our aim is to ingrain sustainability in all we do, placing it at the core of our strategy and operations as a company,” said Raymond B. Ravelo, first vice-president and chief sustainability officer of Meralco, in a media release on Tuesday.
He described the Meralco Supplier Sustainability Scorecard, or MS3, as “a breakthrough step in broadening the reach and impact of our sustainability efforts as we collaborate closely with our vendor partners in powering the good life for all.”
MS3 was created as a tool to assess suppliers and contractors on various environmental, social, and governance criteria, using the United Nations’ Sustainable Development Goals and the Global Reporting Initiative Standards as its guidelines.
Meralco said that MS3 will provide the company with a comprehensive view of its business partners’ ESG performance and is now incorporated into its accreditation process.
Through the company’s supply chain management (SCM) office, Meralco said that it maintains a network of active suppliers and contractors integral to its ability to deliver high-quality and reliable electric service to customers.
“With the implementation of MS3, Meralco is making headway in increasing awareness on the importance of sustainability among our external stakeholders. Working with different suppliers, we, at SCM, are in a distinctive position to influence and inspire other companies to also embed sustainability in their operations,” said Maria Luisa V. Alvendia, Meralco’s chief of staff to the president and chief executive officer and supply chain advisor.
MS3 will cover all of Meralco’s active suppliers as the company moves towards sustainability excellence throughout its supply chain.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
