Company: MERALCO, Metro Manila, Philippines
Company Description: Meralco is the largest electric distribution utility in the Philippines. Headquartered in Pasig City, the Company provides energy to the entire areas of Metro Manila, Bulacan, Cavite, and Rizal as well as to parts of the provinces of Batangas, Laguna, Pampanga, and Quezon. Business operations cover about 9,685 square kilometers, reaching nearly 7.41 million customers.
Nomination Category: Sustainability Categories
Nomination Sub Category: Sustainability Hero of the Year - in Asia, Australia and New Zealand
 Nomination Title: Raymond Ravelo, First Vice President and Chief Sustainability Officer
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2021, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated individual's organization: its history and past performance (up to 200 words):
Total 199 words used.
Raymond Ravelo is Meralco’s first and current Chief Sustainability Officer. Appointed in January 2020, his immediate priority was to Establish and Embed sustainability in Meralco.
Establish. Raymond organized the Sustainability Office into three distinct groups: Strategy, Programs, and Reporting. Strategy crafts and defines the company’s long-term plans and aspirations, Programs develops and drives sustainability initiatives focused on the “here and now”, and Reporting leads ESG disclosures and stakeholder engagements.
Raymond also created and introduced the company’s overarching sustainability agenda, Powering the Good Life (PGL), founded on four pillars—Power, Planet, People, Prosperity. In crafting PGL, he ensured the agenda went beyond environmentalism and contributed to a wider set of the UN SDGs.
Embed. Raymond launched groundbreaking initiatives such as Green Mobility aimed at electrifying Meralco’s vehicle fleet, and Race to Zero Waste (RZW) targeted at minimizing generated waste and diverting them away from landfills.
Raymond also established corporate-wide sustainability metrics against which top management performance is assessed and measured. This ensures sustainability progress is monitored and managed—truly embedding sustainability in the strategy and operations of Meralco.
Furthermore, he led the publication of the company’s maiden sustainability reports (2019-2021), which were all recognized with local and international awards (e.g., Stevies).
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the nominated individual's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 250 words used.
Raymond’s focus beginning 2021 has been to Elevate and Evolve the company’s sustainability agenda.
Raymond crafted Meralco’s Long-term Sustainability Strategy (LTSS) through which the company articulates its just, orderly, and affordable transition to clean energy. LTSS spans three decades, outlining Meralco’s goal of becoming coal-free before 2050.
Guided by LTSS, Meralco made twin commitments: build 1,500MW of renewable energy (RE) capacity and secure 1,500MW of RE supply by 2030. Towards these goals, Meralco already has an RE pipeline exceeding 1,700MW and clean energy contracts totaling 1,880MW.
Moreover, Raymond drove significant impact across Meralco’s aforementioned sustainability programs. By end-2022, vehicle electrification climbed to 7% (vs. government-mandated 5%) with 156 electric vehicles deployed. On RZW, Meralco achieved its all-time high waste diversion rate of 96% in 2022 (vs. 17% in 2019).
Supporting PGL’s holistic approach, Raymond institutionalized new programs focused on People and Prosperity. In particular, through #Mbrace Diversity and Inclusion Program, Meralco attained 22% women representation (vs. 13% global energy sector average). #Mbrace also drove the relaunch of Meralco’s Linewomen Program, the first in Southeast Asia.
Another trailblazing program, the Meralco Supplier Sustainability Scorecard assesses vendors on sustainability criteria for their continued accreditation with the company. Today, 93% of Meralco’s top suppliers are compliant with its sustainability standards.
With his continued thrust for robust sustainability governance, Raymond not only established a Board-level Sustainability Committee but also formed the Sustainability Champions comprised of senior managers across Meralco. He likewise influenced executives to adopt sustainability KPIs in their organizations.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the nominated individual's past performance (up to 250 words):
Total 249 words used.
Raymond’s achievements above have been instrumental in transforming Meralco from a laggard into a recognized leader in sustainability. This is clearly evidenced by all-time best ESG scores and recognitions across the board.
In 2022, Meralco’s ESG rating was upgraded by MSCI—a multinational investment research firm which assesses over 8,500 companies around the world—to an all‐time best BBB following a baseline B rating in 2018.
Furthermore, Meralco upgraded its CDP Climate Change and Water Security scores from previous years’ F to C in 2022.
Meralco was likewise recognized as one of the most socially and environmentally responsible companies worldwide by UK-based FTSE Russell, making it the second Philippine power company to become a constituent of the FTSE4Good Index Series. Beyond qualifying for inclusion, Meralco also topped the Philippine and global energy sector average ratings.
On the gender inclusion front, Meralco has been recognized as an official member of and the first Philippine utility in the Bloomberg Gender Equality Index.
Lastly, Meralco was included in the World Benchmarking Alliance’s (WBA) SDG2000, a collection of the most influential companies globally that are well-positioned to drive the world towards the fulfillment of the SDGs.
As a result of these, Raymond was recently promoted to First Vice President, the youngest ever in Meralco.
These achievements and recognitions truly serve as testaments to Raymond’s effective leadership and earnest commitment towards a more sustainable future.
He is a hero, particularly in the energy sector, which is regarded as the world’s biggest contributor to climate change.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 210 words used.
Question A.
Attachment 1. Consolidated reference. Contains:
- Appointment of Raymond Ravelo as Chief Sustainability Officer
- One Meralco Sustainability Agenda: Powering the Good Life
- Green Mobility Program Brief
- Race to Zero Waste Program Brief
- Corporate Sustainability Metrics
- Sustainability Reports: Awards and Recognitions
Question B.
Attachment 2. SEC 17-A 2022 with Sustainability report. Contains:
- Long-term Sustainability Strategy – includes details on horizons and progress of twin commitments (Pages 487 to 492)
- Green Mobility Program Progress (Page 508)
- Race to Zero Waste Progress (Pages 514 to 515)
- #Mbrace Diversity and Inclusion Program Progress (Pages 518 to 520)
- Meralco Supplier Sustainability Scorecard Progress (Pages 540 to 541)
- Sustainability Governance: Sustainability Committee and Sustainability Champions (Pages 579 to 580)
Question C.
Attachment 3. Press Release on Financial and Operating Results for the year ended December 31,2022, Pages 12-13, “Meralco achieved all-time best ratings in 2022 ESG assessments; continued to advance core sustainability initiatives” – provides details on the latest achievements of Meralco covering improvements in ESG ratings and important progress on sustainability initiatives
URL 1. “Meralco recognized for ESG excellence, now a FTSE4Good constituent” – news on the inclusion of Meralco in the FTSE4Good Index Series—a set of global sustainability indices that measure the performance of companies in key environmental, social, and governance (ESG)
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