The impact that sustainability has on a company and work culture can open opportunities and long-term growth. Consumers, particularly the younger ones, are increasingly looking to businesses as a force for positive impact — a company or brand that fully upholds sustainable practices in its operations earns trust and loyalty. Likewise, the rise of sustainable, responsible investments is clearly at a tipping point, with majority of investors believing that companies with ESG-aligned practices will be more sucessful in the long-term.
Many businesses acknowledge this and recognize the importance of sustainability and the need to embed it in its operations. It’s not an easy task — a genuine and enduring program requires fundamental changes in existing systems and processes. One company, in particular, is braving the challenges, leading the charge and setting an example.
The country’s biggest electric distribution utility, Meralco, had already embarked on its sustainability journey ahead of most. Even before the Covid-19 pandemic radically changed how companies view sustainability, Meralco had been implementing programs in support of the United Nations’ Sustainable Development Goals and had been laying the groundwork for progressive changes in its sourcing of energy supply, various investments, and adoption of technologies.
In 2019, Meralco embarked on various key initiatives to drive its sustainability agenda. This includes the ban on single-use plastics for packaging of delivered equipment and materials, and the roll-out of the One For Trees program. Meralco also launched the green mobility program aimed at deploying electric vehicles to cater to the transportaion needs of its business and operation centers.
Just recently, Meralco took this sustainability push further and launched the Meralco Supplier Sustainability Scorecard, an innovative tool that will assess suppliers and contractors on key environmental, social, and governance criteria, while also using the UNSDG and Global Reporting Initiative Scorecard.
With MS3, Meralco aims to provide its stakeholders, customers, and the public a comprehensive view of the ESG practices and performance of its business partners. It will be eventually incorporated into its accreditation process.
Meralco maintains a network of active suppliers and contractors that is integral to its ability to deliver high-quality and reliable electric service to its customers. The MS3 scorecard is now being implemented to its top suppliers and will soon cover all its active suppliers.
Meralco First Vice President and Chief Sustainability Officer Raymond B. Ravelo said, “Our aim is to ingrain sustainability in all that we do, placing it at the core of our strategy and operations as a Company. MS3 is indeed 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 also serves as a platform for Meralco to engage with its suppliers by understanding the challenges they face in becoming more sustainable and aiding them in building their own sustainability strategies and programs.
According to Meralco chief of staff to the president and CEO and Supply Chain Advisor Maria Luisa V. Alvendia, the MS3 is also a tool that can increase awareness on the importance of sustainability among Meralco’s stakeholders.
“Working with different suppliers, we, at Supply Chain Management, are in a distinctive position to influence and inspire other companies to also embed sustainability in their operations. Sustainable development is a collective effort. Meralco cannot do it alone, and we are truly embracing our role as an enabler in this greater push for sustainability,” she said in a statement.
Aside from the SUP and the new MS3, Meralco is well on its course to fulfill its goal of a just, orderly, and affordable transition to clean energy. In 2021, Meralco commissioned a 55-megawatt solar farm in San Miguel, Bulacan, part of its commitment to contract 1,500 MW of renewable energy, and to build an additional 1,500 MW of renewable power plants through its power generation subsidiaries.
With the many initiatives and programs in place for the benefit of not just the organization but also its stakeholders, Meralco has indeed recognized its role and the impact it can make to create positive and lasting results for the future generations — the very premise of sustainability.