BUSINESSES must play a bigger role in sustainability efforts to address challenges like climate change and rising inequality, Ayala Land, Inc. (ALI) Executive Director Mariana Beatriz Zobel de Ayala said.
Businesses should focus on sustainability, diversity, and digitalization as drivers for transformation, Ms. Zobel also said in her keynote speech at the Financial Executives Institute of the Philippines’ (FINEX) inaugural meeting and induction ceremony in Makati City on Wednesday.
“A focus on these three areas have been incredible catalysts for change and continue to shape the way we look at business today,” she said.
“The role of business in the climate action agenda thus cannot be understated and will require transformation in order to reimagine how we can mitigate our environmental impacts,” she added.
For his part, FINEX President and ALI CFO Augusto D. Bengzon advocated for finance executives to integrate environmental, social, and corporate governance metrics into financial assessments, fostering a culture of environmental responsibility.
“Including sustainability in our business practices and strategies not only protects our environment for future generations but also positions our companies for resilience and long-term growth,” he said.
In terms of diversity, Ms. Zobel acknowledged the current underrepresentation of marginalized groups in leadership roles, emphasizing the value of unique perspectives in organizational success.
“I believe that the roles we play in our individual lives, families, and communities contribute so much to our worldview and perspectives… Bringing those unique perspectives and experiences to our organizations… will yield tremendous results and hopefully new ways of looking at things,” she said.
Mr. Bengzon said that diversity is important in stimulating creativity and innovation within business and finance teams.
“Recognizing the importance of diversity acts as a catalyst for innovation and untapped potential,” he added.
On digitalization, Ms. Zobel pointed out Ayala Group’s adaptation to the digital landscape through subsidiaries like ALI and Bank of the Philippine Islands.
“The work we do at ALI now requires a similar sense of reimagination, bringing our resorts and hotels up to global standards and fulfilling the promise of the Philippines as a top travel destination,” she said.
For his part, Mr. Bengzon stressed the importance of digitalization not only for business growth but also for ensuring the survival and relevance of companies in challenging times.
“As finance executives, we are responsible for navigating our organizations through these challenging times. It is incumbent that we collectively harness the power of sustainability, diversity, and digitalization to chart a course toward a future marked by growth and collective prosperity,” he said. — Revin Mikhael D. Ochave