Aboitiz Group cites MSMEs transformation at ‘sustainability summit’

POWER UPDATE

Lloyd Revilla

Micro, small and medium enterprises (MSMEs) play a key role in the economy and society, but are the most vulnerable to the challenges brought about by a volatile environment, as the effects of the Covid-19 pandemic have shown. That is why for 2022, its 4th Sustainability Summit, the UN Global Compact (UNGC), through its local network Global Compact Network Philippines (GCNP), in cooperation with the United Nations Industrial Development Organization (UNIDO), is focused on the theme “Scaling Up the 10-in-10 Agenda for MSME Recovery and Resilience”.
    On Nov. 22, the Summit delved straight into presentations and panel discussions that highlighted best practices and the progress plans of the 10-in-10 Agenda to support MSMEs. The UNGC’s 10-in-10 Agenda involves 10 focus areas for MSMEs to be undertaken in 10 years, from 2021 to 2031. These focus areas are divided into three work streams: People, Prosperity, and Planet, with the Prosperity Pillar led by the Aboitiz Group.
    Aboitiz Equity Ventures (AEV) First Vice President and Chief Reputation and Sustainability Officer Ginggay Hontiveros stressed that the goal of the Prosperity Pillar is to help MSMEs transform and become competitive, resilient, sustainable, and innovative entrepreneurs through equitable and inclusive approaches for their long-term growth and development.

“To achieve this goal, we need to provide them with platforms, technologies, capability training, and access to markets and financial institutions to help them during this challenging time,” said Hontiveros.

Illustrating the opportunities technology can provide to MSMEs, Hontiveros shared the Aboitiz Group’s Biyaheng Digiskarte mentoring program and model as best practices that would help MSMEs recover and remain resilient.

 “‘Digiskarte’ was coined to highlight the disruptions in all industries that happened in the digital space. Therefore, to adjust the strategies and tactics to optimize the digital platforms and spaces is our way forward, our diskarte. Digiskarte is using digital tools, approaches and innovations in doing business,” Hontiveros explained.

Alongside the Aboitiz Group, the Prosperity Pillar involves collaborative efforts with co-lead SM Investments Corporation, and fellow member companies Philippine Marketing Association, Nestlé Philippines, Unilever, Pilipinas Shell Petroleum Corporation, ADEC Innovators, and Subic International Management and Consultancy.

 “Let us all act collectively to help MSMEs recover losses from this pandemic and be resilient over time. Through our strategic and collaborative synergies as ecosystem stakeholders working together, we will be able to scale up our tested business cases to create meaningful and impactful approaches to recovery and resiliency building for them,” said Hontiveros, sending to the audience of like-minded changemakers a call-to-action.

Aboitiz Equity Ventures, Inc. (AEV) is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, land, and data science and artificial intelligence. Today, AEV is recognized as one of the best-managed companies in the Philippines and in the region, consistently cited for its commitment to good corporate governance and corporate social responsibility. With five generations of Aboitiz Group business success behind it, AEV continues to drive change for a better world by advancing business and communities.

The Aboitiz Group is a member of the Global Compact Network Philippines Board of Trustees and helps champion the Philippines’ sustainability initiatives on an international level through policies, advocacies, and initiatives that align with the United Nations Global Compact (UNGC).

The company has also launched its #OneAboitizSustainability Framework which aims to transform its life-essential businesses into having improved sustainable practices and positively impact the environment and society. (Lloyd Revilla is Media Relations Officer of Aboitiz Equity Ventures Inc. He could be contacted at lloyd.revilla@aboitiz.com  | +63 920 616 2186)