About this
Integrated Report

 

The 2020 Ayala Integrated Report (IR) provides a comprehensive view of the way we have integrated our values into our business, operations, and performance, and how we lived up to our purpose of creating meaningful impacts on the economy, environment, and our communities. This IR is a testament to our long-term commitment to sustainability.

The IR’s Value Creation chapter opens with our sustainability journey map, which shows how all the factors involved in our process of defining shared value work together in crafting significant impacts on our target communities.

In this report, Ayala strengthens disclosures on ESG matters as part of its commitment in ensuring it remains a responsible organization who manages its impacts on many different levels.

Moreover, we continue to report on our performance against the Ayala Sustainability Blueprint: Bridging the Filipino to 2030 which serves as our primary guide in ensuring we hit our milestones in our drive to contribute to the UN Sustainable Development Goals.

Both the ESG and Ayala Sustainability Blueprint disclosures exemplify the bold leadership and shared vision of the Ayala Group in shaping a better and more sustainable world.

We continue to review and realign our Sustainability Reporting Framework with emerging issues, interests of stakeholders, and our environmental, social, and governance materiality topics in mind.

We generate and evaluate our data through a rigorous collection process. Our in-depth analysis aims to determine whether we have effected change and influenced movements in the country’s economic and social landscape and have helped open opportunities for inclusive growth.

This report constitutes a company-wide, group-wide effort built through cooperation and collaboration among the different departments and business units across Ayala. Our Investor Relations team, Risk Management & Sustainability team, and Management reviewed all information in this report, which was duly approved by the Board of Directors for publishing.

REPORTING SCOPE
This report provides detailed information on the consolidated financial, economic, environmental, social, and governance performance across our business units from January 1 to December 31, 2020. Notes and further explanations accompany the text and tables of our performance indicators. The report includes relevant disclosures on business expansion from our unlisted subsidiaries and affiliates.

REPORTING STANDARDS
This report was guided by principles and content elements of the Integrated Reporting <IR> Framework as part of our commitment to position our non-financial information report in line with global best practices. We framed the report of our performance based on materiality topics aligned with the United Nations Global Compact (UNGC) 10 principles, Sustainability Accounting Standards Board (SASB), and Global Reporting Initiatives (GRI) Standards. The World Business Council for Sustainable Development (WBCSD) programs for business transformation helped us highlight our initiatives in strengthening ESG disclosures while we continue to reach our targets to contribute to the Sustainable Development Goals.

In 2019, we further embedded sustainability in our reporting when we phased in the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD) recommendations for voluntary climate-related financial disclosures, which aims to provide useful information to investors, lenders, and insurers. We continue to report on our progress on TCFD disclosures this year.

OUR APPROACH TO EXTERNAL ASSURANCE
Our Board’s Audit Committee is mandated to review and approve the audit, audit-related, and non-audit services from external auditors. It provides oversight on the performance of external and internal auditors.

ON OUR FINANCIAL STATEMENTS
SyCip Gorres Velayo & Co., a member firm of Ernst & Young International Ltd, is the external auditor of the company’s financial statements, with Lucy Lim Chan as the partner-in- charge. The audit partner principally handling the company’s account is rotated every five years in accordance with Securities and Exchange Commission (SEC) regulations.

ON OUR SUSTAINABILITY PERFORMANCE
DNV, an independent organization and global provider of certification, assurance assessment, and training services, validated the figures and information related to our sustainability performance and <IR> Framework. The group- wide assurance process was done in two phases, which included interviews with executives and in-depth discussions with related departments from the different business units. Both phases of the assurance were done remotely in accordance to regulations and protocols on COVID-19.

FEEDBACK
We welcome feedback and inquiries to help us improve our future reporting.

You may e-mail your feedback and comments to:
investorrelations@ayala.com
sustainability@ayala.com,
and esg@ayala.com