NextGen Day

Ayala Land Inc. (ALI) has been recognized by Department of Finance (DOF) Secretary Carlos Dominguez III for helping the country’s economic recovery via investments and employment development, as well as the government’s immunization program.

He added on the 30th anniversary of ALI’s listing on the Philippine Stock Exchange (PSE) on Friday, “The firm has significantly contributed to our progress via its investments in property development, which have generated much employment and attracted many business possibilities countrywide.”

Even in the middle of the coronavirus epidemic, Dominguez noted, ALI completed its PHP13.6 billion real estate investment trust (REIT) offering last year, making it the country’s first REIT listing.

“This historic issue paved the way for additional REITs to enter the market, providing more appealing and reliable investment options for the ordinary Filipino,” he added.

Dominguez claims to have been the first to list a corporate bond on the capital market via electronic methods in April of last year.

He also praised the business for helping the government with the coronavirus disease 2019 (Covid-19) immunization campaign by using its malls and other assets as inoculation sites.

“The Duterte government is extremely confident that, with the quicker deployment of our national immunization campaign and recovery measures, we will quickly limit the spread of Covid-19 and bounce back strongly from this global health and economic crisis,” he said.

Apart from these measures, Dominguez, who is also the concurrent chairman-designate of the Climate Change Commission (CCC), said ALI has also created green areas throughout the nation to support the government’s climate change efforts.

Even before the Securities and Exchange Commission (SEC) released the rules for the filing of sustainability reports in 2019, SEC Chairman Emilio Aquino stated ALI has already identified four sustainability priority areas that are linked with the UN Sustainable Development Goals.

Aquino said that the whole Ayala Group has adapted to sustainable finance, noting that the Group issued a large portion of the total ASEAN Green, Social, and Sustainable Bonds issued by Philippine businesses.

He highlighted AC Energy Finance International Ltd., which has issued a number of green bonds, the proceeds of which would be used to fund solar, wind, and geothermal energy projects throughout the ASEAN region.

He also said that the Bank of the Philippines (BPI) has issued PHP21.5 billion in Covid Action Response Bonds, the proceeds of which would be utilized to finance and refinance qualified micro, small, and medium businesses.

According to ALI chairman Fernando Zobel de Ayala, the organization is focusing more on sustainability and long-term development.

“We remain convinced that our many ongoing efforts have assisted us in laying a solid foundation for recovery and fresh growth,” he added. “In reality, I think we are gradually heading towards a recovery of our economy, thanks to the success of the national immunization program and the backing of our government’s fiscal and monetary stimulus.”

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