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Meralco is the largest private sector power distribution utility in the Philippines, covering 39 cities and 72 municipalities, including the capital Manila. The company's concession area of 9,685 square kilometres covers just 3% of the total land area of the Philippines, but Meralco accounts for 55% of the country’s electricity output, and serves almost 8 million customers.
Summary
Meralco reports on numerous sustainability topics but has potential to strengthen its performance in many areas. The company has conducted a materiality assessment based on global, national and industry trends and ESG reporting standards, and established targets for disaster resilience, energy consumption, female representation and worker health and safety. However, Meralco should disclose its list of material topics and set a baseline year for its targets to track progress. It can also disclose its process to identify and mitigate human rights risks to further its commitment to respect human rights.
The company discloses its contribution to local economies, including the economic value generated and spending on local suppliers. It also discloses its household electrification programme that has connected 70,000 low-income households to the grid since 2011. The company can further disclose how it ensures affordable energy for its customers beyond covering installation costs.
Meralco discloses its target to reduce scope 1, 2 and 3 emissions by 2030; however, it is yet to demonstrate quantitative emissions reductions over time. Moreover, the company lacks reporting on air pollution, energy efficiency and water withdrawal, making it difficult to fully evaluate its environmental impact.
Ranking position
#37
/300
Total score
25.0
/100
Measurement area
Score
Rank (0-300)
Measurement area
Governance & Strategy
Score
# 1
19.2
/100
Rank (0-300)
#54
Measurement area
Inclusive Cities
Score
# 1
49.2
/100
Rank (0-300)
#10
Measurement area
Healthy Cities
Score
# 1
3.3
/100
Rank (0-300)
#151
Measurement area
Climate Proof & Resilient Cities
Score
# 1
20.0
/100
Rank (0-300)
#49
Measurement area
Core Social Indicators
Score
# 1
33.3
/100
Rank (0-300)
#38
Industries
Industries
Energy distribution
#12
More about the company
Headquarters
Philippines
Ownership structure
Public
Revenue
USD 7,829 billion (2022)
Number of employees
12486 (2022)
Website
https://company.meralco.com.ph
63716
