NEO acknowledges its responsibility as a real estate developer to operate buildings that protect the health and safety of its occupants and decrease harmful climate impact. We advocate for a built environment that addresses the issues within health, well-being and quality of life. With this advocacy, we hope to achieve a safe, healthy community and environment within our portfolio and beyond as we hope to inspire others in the industry to likewise contribute to sustainability.
In line with our advocacy for a sustainable built environment is our approach to ESG which encompasses three sustainability pillars: Social, Environment and Economic. The social pillar signifies our responsibility and care for our tenants, partners, stakeholders and community. Representing our advocacy to reduce harmful environmental impact, the environmental pillar allows us to address climate-related risks and opportunities in the industry. As all pillars are interlinked, the economic pillar indicates how our chosen functions and priorities additionally benefit economic interests and motivates a higher positive purpose for the business.
Through navigating within these pillars, we have identified our five Focus Areas for contributing towards sustainable development. Each focus area lists the particular sub-topics considered material from our duties as a property developer.
Recognizing that buildings play a major role in the climate crisis, NEO is committed to significantly reducing its carbon footprint. Under the World Green Building Council’s Net Zero Carbon Buildings Commitment, we have set ambitious interim targets of achieving net zero energy by 2025 and an overall 50% reduction of carbon emissions from assets within direct control by 2030. Furthermore, we are aligned with the Urban Land Institute Greenprint’s Net Zero Carbon Goal to reduce greenhouse gas emissions by 50% by 2030 and achieve net zero carbon by the year 2050. Several NEO buildings have already met these targets of successfully achieving net zero as the entire portfolio has been powered by renewable energy through AboitizPower since 2013.
Partnership and collaboration have allowed us to grow and be involved in more opportunities for advancing sustainability. As a sustaining member of the Philippine Green Building Council, we have been able to contribute to setting the Philippine standard for green buildings with the NEO buildings as pilot projects under the organization’s BERDE green building rating system. With the priority to create a positive social impact in the local setting, we are also a proud member of the Philippine Business for Social Progress for poverty reduction. Memberships in the GRESB, Urban Land Institute and ARISE global network has allowed us further our sustainability initiatives on a global standard through education on topics such as environmental impact, social change and building resilience.