Ayala chairman rallies with global CEOs, faith leaders in advancing inclusive economy

The Council for Inclusive Capitalism is guided by faith-based and ethical leaders and is led by a core group of global CEOs and public leaders who take concrete actions to enable a more inclusive capitalism and who convene annually to advance the Council’s mission.

MANILA — Ayala Corporation Chairman Jaime Augusto Zobel de Ayala joins other business and faith leaders from across the globe in rallying for a more inclusive, equitable, and sustainable economy.

Zobel, who joined the Council for Inclusive Capitalism in 2021, is currently a member of the council’s steering committee. The first in-person convening of its steering committee was hosted last month at Lambeth Palace Library in London by the Most Reverend and Right Honourable Justin Welby, Archbishop of Canterbury.  

“Capitalism has brought the world huge wealth and innovation – much of it, I would say, to the glory of God. But that is not enough if all God’s creatures are not flourishing. I am looking forward to addressing how capitalism can be more inclusive and can lead to mutual and beneficial outcomes,” Welby said.

In an interview on the sidelines of the meeting, Zobel emphasized that profit and purpose can merge in an inclusive economy. “I think profit and purpose go hand in hand. If you don’t have profits, then you don’t have money that can be reinvested in business and in areas that need help. I think what’s important is to find ways to link up the success of your institution and making sure that it addresses the broader need of the community,” he said.  

Zobel added that collaboration among public and private sectors, faiths, and nations is essential in addressing the biggest issues of today. “Business at its best is when we link up our tremendous capacity for reinvention, for allocating capital properly, for creating news product and services with addressing the pain points that our societies have. Governments can’t do everything. We all have to do our part,” he said.

The Council for Inclusive Capitalism was founded with the belief that businesses have a responsibility and the ingenuity to create stronger, fairer, and more dynamic economies and societies. The council is now a global community of more than 400 business leaders from around the world, and it hosts a comprehensive public platform of more than 700 concrete and measurable private sector actions to doing business in ways that benefit people, communities, and the planet.

“Business—and our capitalist economy—works best when it works for all. That’s why the Council for Inclusive Capitalism exists,” said Lynn Forester de Rothschild, founder and co-chair of the Council for Inclusive Capitalism. “Since launching the Council, the world has experienced unprecedented challenges: a pandemic, economic downturn, geopolitical turmoil, and a rapidly warming planet to name a few. This work has never been more important, and the unwavering commitment of these leaders inspires me and gives me great hope for our future.”

Aside from Zobel and Rothschild, other council steering committee members in attendance included Pelin Akin Özalp, Board Member of Akfen Holding; Eduardo Bartolomeo, CEO of Vale; Mathias Cormann, Secretary-General, OECD; Natarajan Chandrasekaran, Chairman, Tata Sons Private Limited; Marcie Frost, CEO, CalPERS; William P. Lauder, Executive Chairman of The Estée Lauder Companies; Rich Lesser, Global Chair of Boston Consulting Group (BCG); Lim Boon Heng, Chairman of Temasek; Bernard Looney, CEO, bp; Punit Renjen, CEO Emeritus, Deloitte Global; Feike Sijbesma, Advisor to the Council for Inclusive Capitalism; and Jeff Ubben, Founder and Managing Partner of Inclusive Capital Partners. Also attending were representatives from the International Trade Union Confederation, Merck, PayPal, the Rockefeller Foundation, and State Street.

In addition to Council steering committee members and Archbishop Justin, special guests and advisors participating in the meeting included Jean Pierre Casey of the Holy See Investment Committee; Emmanuel Faber, ISSB Chair; Monsignor Hilary Franco, Adviser Emeritus at the Permanent Mission of the Holy See to the United Nations; Dr. Azza Karam, Secretary General of Religions for Peace; and the Right Reverend Professor David Walker, Lord Bishop of Manchester. 


Ayala lauded anew at the Asia Integrated Reporting Awards

MANILA — Ayala Corporation continues to receive recognitions for embracing best-in-class integrated reporting.

This year, Ayala received its first gold from the Asia Integrated Reporting Awards, the region’s most prestigious award-giving body for integrated reporting. Ayala’s 2021 Integrated Report “Building Businesses for the Greater Good” was awarded a Gold and a Silver in governance and large company categories, respectively.

Previously, Ayala bagged three silvers for large company, governance, and design categories. It also received Best Integrated Report (Silver) and Best Integrated Report (Highly Commended) in 2020 and 2018, respectively.

“We are grateful to AIRA for this recognition. It affirms our commitment to transparency and addressing the needs of our stakeholders, and it inspires us to further strengthen our ESG impact management and shared value creation for the greater good,” said Albert de Larrazabal, Ayala Corporation’s Chief Finance Officer, Chief Sustainability Officer, and Chief Risk Officer.

The virtual awards ceremony, which took place on March 30, began with an opening address by the H.E. Ms. Kara Owen, the British High Commissioner to Singapore. The awards were revealed by Tom Moody, Regional Director, South East Asia for Climate and Energy and Charis Yeap, Regional Lead for Green Finance at the British High Commission in Singapore, and Elaine Cohen, a well-respected sustainability reporting expert and a member of the ASRA judging panel.

“Ayala has consistently showcased exemplary leadership in integrated reporting,” said Rajesh Chhabara, founder of AIRA and Managing Director of CSWorks. He added that the company’s integrated report is a best-practice example, highlighting its application of integrated thinking and a multi-capital approach to generate long-term value for its shareholders and stakeholders.

Integrated reporting provides a comprehensive and transparent view of an organization’s governance, performance, strategy, and prospects, enabling providers of capital to make informed decisions and assessments. Integrated reporting enables companies to embed long-term sustainability into their business model and helps providers of financial capital make efficient and productive allocation of capital.  

Investors use integrated reports to assess the organization’s ability to create value in the short, mid, and long term. This has led to the increasing adoption of integrated reporting by companies and market regulators worldwide, backed by investors.

AIRA awards go to integrated reports that demonstrate high-quality, value-creation reporting. The winning reports are selected based on a rigorous assessment process, where an independent judging panel determines the finalists and winners. The judging process not only evaluates the quality of the report but also conducts comprehensive due diligence that takes into account companies’ reputations among their stakeholders.