Globe earns recognition as Climate Leader in Asia-Pacific for second year in a row
For two consecutive years, the leading digital solutions platform Globe has been recognized as one of Asia Pacific’s Climate Leaders. The list developed by the Financial Times and Global Market Research Firm, Statista honors companies that are making significant strides in reducing their greenhouse gas (GHG) emissions.
Globe is the only Philippine telco company included in this year’s lineup. The company sees this recognition as a testament to its commitment to climate action, backed by its energy-efficient technologies and sustainable network operations.
“Being recognized by the Financial Times as a Climate Leader for the second time reaffirms our commitment to make a positive impact to the environment. This inspires us to continue on our path to net zero. We believe that collaboration between us and our stakeholders is key in our roadmap towards a more sustainable, low-carbon future,” said Yoly Crisanto, Globe Group’s Chief Sustainability and Corporate Communications Officer.
Globe’s inclusion in the list was a result of the rigorous process conducted by the Financial Times and Statista, where they examined the carbon footprint of thousands of companies in the region.
The assessment considered factors such as revenues, independent emissions data reporting, adherence to Scope 1 and Scope 2 emissions reporting, and CDP (formerly Carbon Disclosure Project) ratings among others. Globe stood out for its substantial reductions in its core emissions intensity between 2016 and 2021, demonstrating not only its financial growth but its dedication to climate action.
A core part of Globe’s success comes from the implementation of numerous climate action initiatives over the years, from deploying green network solutions, piloting off-grid network technologies in remote and disaster-prone areas, adopting eco-friendly batteries, adopting green, low-carbon optical networks technologies, and shifting to renewable energy consumption in its key sites.
In line with these, Globe has also ventured into engaging its supply chain, establishing sustainability criteria in its procurement and vendor assessment processes, and rallying business partners to support and follow sustainable practices. The move propelled a collective, company-wide journey towards greener operations, in line with its commitment to achieving net zero GHG emissions by 2050.
Coming from the company’s commitment to set science-based targets through the Science Based Targets Initiative (SBTi) in 2021, Globe is set to submit targets to SBTi for validation and approval this year. Ahead of its submission, Globe achieved a 4.42% reduction in its total Scope 1 and 2 emissions driven by the company’s energy management programs and continued shift to renewable energy sources for its high energy sites. This exceeded its interim voluntary reduction target of 4.2% Linear Annual Reduction Rate (LARR) set in 2022, aligned with the SBTi reduction rate for the 1.5˚C global warming scenario.