GRI 102-47, 103-1

Sustainability is fundamental to MPIC’s mission and operations. We weave the public’s welfare into our business strategies and day-to-day activities, fostering long-term value while minimizing investment risks and extending inclusive socio-economic progress for more people. Since 2016, we have annually reported our sustainability impacts following the Global Reporting Initiative (GRI) Standards and have continued to elevate our reporting standards by aligning with emerging regulations from International Financial Reporting Standards (IFRS), Sustainability Accounting Standards Board (SASB), the Ten Principles of the United Nations Global Compact (UNGC), the Task Force on Climate-Related Financial Disclosures (TCFD), and the Task Force on Nature-Related Financial Disclosures (TNFD). Our goals align with the United Nations Sustainable Development Goals (SDGs), focusing on industry, innovation, infrastructure, sustainable cities, communities, and recently, agriculture and food security. Our strategies also support the Philippine Development Plan 2023-2028, targeting economic growth, social transformation, job creation, and poverty reduction.  We continuously refine our Sustainability Framework to align with current Economic, Environmental, Social, and Governance (EESG) practices. We also regularly review and update our material sustainability issues and focus areas to ensure their relevance and resilience in our business and stakeholder engagements. Informed by global standards, our framework helps our companies integrate sustainability into their business models, encouraging responsible use of resources and ambitious sustainability targets.

Then, the identified priority issues were categorized according to sustainability focus areas that address these issues. Lastly, the priority issues and focus areas from the operating companies were rolled-up at MPIC’s level to craft MPIC’s material sustainability issues and focus areas. The framework helps our companies better integrate sustainability into their business models, driving them to be more responsible with limited capitals to deliver meaningful business outcomes. At the same time, it encourages them to set ambitious targets as their sustainability actions increasingly become indistinguishable from their everyday business actions. As we continue to contribute to the sustainable transformation of our society and economy amid volatility and uncertainty, our framework helps our companies adapt to the new normal of the post-pandemic economy. Our early understanding of various risks enables us to manage uncertainties while fulfilling our duties as a business. Through informed actions and strategies, we are also strengthening our resilience in a time of climate crisis. Our responsibility has only become greater given the unpredictability of daily life and doing business due to heightening crises on numerous fronts. Accordingly, we continue to conduct an annual review of our materiality process to ensure that our focus areas remain relevant for our business and stakeholders.