Creating Shared Value Map

Our Strategy

Ayala addresses structural and societal gaps in the Philippines by building impactful businesses and transforming them into industry-leading subsidiaries. Our long-term value creation is driven by a combination of a robust financial strategy and a holistic ESG strategy with sustainability at its core. Over decades, this framework has enabled us to create strong franchises by identifying opportunities in nascent or disrupted sectors.
3-Point Agenda

financial management strategy

Our financial management strategy is rooted in discipline and a conscious alignment to the vision of Ayala to be the most relevant, innovative, and enduring business group. Using the five vision pillars as a guide, management gains a better understanding of how decisions on capital allocation, portfolio management, business development, and balance sheet management impact the overall strategy, allowing the company to be agile and ensure its longevity.

Our strategy execution is driven by four elements:


Strategic Business

We continue to refine our existing business strategies and to identify new opportunities by leveraging our financial, intellectual, human, and social and relationship capital.

Robust Capital

We utilized quantitative and qualitative criteria and a multi-step management approach to fund new or existing businesses.

Active Portfolio

We continue to balance our holdings to crystalize value.

Active Balance Sheet Management

The engine that allows us to stay nimble drives our capacity to grow.

These are done in the context of key global, regional, and local trends that we believe will impact markets, sectors, and businesses in which we choose to invest and operate. To learn more about the Financial Management strategy, click here.

  • Core Value Drivers
  • Portfolio Investments
  • Emerging Businesses
Our management approach and constant reinvention has cemented our business leadership over the past
187 years

Non-financial management strategy

The other component that defines the way we do business is our commitment to sustainability. Our non-financial management strategy revolves on:


Human Resource

The belief that our employees are our primary customers and their welfare is our priority.


This makes sure that we comply with policies and regulations required of responsible companies.


This is where we operate with the welfare of our stakeholders in mind.


This gives us the balance and cautions us as we keep our balance sheet strong.


Our mindset is that everything we do affects our brand and reputation.

We continued to forge our non-financial strategies in 2021. In the environmental front, we took a bold commitment to turn our 2050 net-zero pledge into a net-zero plan. This is laid out with strong social and governance commitments that will create opportunities for us to innovate and collaborate with value-chain partners in order to remain a key player in the industry, and contribute more to society.

For how we put to action our non-financial strategies, please go here.

Our Business Model

Ayala addresses structural and societal gaps in the Philippines by building businesses and transforming its industry-leading subsidiaries. Our long-term value creation is driven by our strategies with Sustainability at our core.


Strong financial position including:

  • Reliable operational cash flow
  • Robust capital allocation process supported by reliable access to debt at competitive rates


  • Deep expertise of Philippine ecosystem and key industries
  • Comprehensive approach to value creation linking long-term returns with environmental, social, and governance impact
  • Corporate culture focused on innovation and lifelong learning


  • Best-in-class talent across departments and disciplines
  • Diversity of talent, including global perspective and mindset


  • Strong relationships with a vast network of business partners, investors, communities, academe, and other relevant entities
  • Strong, trusted Ayala brand

Financial Management Strategy

  • Strategic Business Development
  • Capital Allocation
  • Portfolio Management
  • Balance Sheet Management

Non-Financial Management Strategy

  • Human Resources Development
  • Corporate Governance
  • Stakeholder Management
  • Risk Management
  • Brand Management
Strategic Business Development
  • We continue to explore new sectors, geographies, and expert partners to develop new business models that will drive our growth
  • We identify partnership opportunities among our business units and create an environment for collaborative innovation
Capital Allocation
  • Using quantitative and qualitative criteria and a multi-step management approach, we allocate financial resources to businesses we believe provide the best risk-adjusted stakeholder returns over the long term
Portfolio Management
  • We carefully evaluate the performance of our subsidiaries vis-à-vis market behavior to guide decisions on investments or divestments in a timely manner
Balance Sheet Management
  • We maintain a healthy balance sheet with significant debt capacity and a well spread out maturity profile, which gives us the flexibility to fund future growth opportunities. This is augmented by an optimal foreign exchange and interest rate mix and a healthy cashflow adequacy ratio
Human Resources Development
  • We continue to build competencies to support the growing requirements of our businesses
Corporate Governance
  • We continually improve our policies and monitor our practices to ensure we are at par with the best standards of corporate governance
Stakeholder Management
  • We continue to listen to our stakeholders and keep them informed on matters important to their decision-making
Risk Management
  • We continue to elevate risk management as an essential consideration in every decision, activity, and initiative of the company
Brand Management
  • We continue to build and protect our brand by ensuring we deliver on our promise, and effectively communicate what we stand for as a company
Note that the below priorities have shifted during the pandemic.
  • Strong, diversified portfolio earnings and returns amid economic cycles
  • Net Income: ₱50 billion
  • Return on Common Equity: 15 percent
  • Market Capitalization rank: 1st or 2nd
  • Continue to strengthen Ayala’s Balance Sheet; optimum funding in a volatile market environment, manage financing cost at 5.4 percent or even lower
  • Maintain a high level of Liquidity of at least ₱20 billion, to support budgeted allocation and new investment opportunities
  • Explore opportunities for yield enhancement, and increased focus on Asset and Liability Management and credit management
  • Positively disrupt, transform the industries, and impact the markets we serve
  • Continue to be the employer of choice for a highly engaged employee base
  • Maintain an empowering and motivating environment that allows people to effectively leverage their knowledge, relationships, and expertise to drive value
  • Prepare workforce for potential disruption from increasing adoption of digital technology in business
  • Sustain ongoing relationships with existing business partners while keeping our doors open for new ventures and partnerships
  • Ayala remains a strong and trusted brand
Our diversified portfolio supported financial performance and allowed us to deliver value to our stakeholders amid the ongoing crisis.
  • Consolidated Net Income of ₱27.8 billion (up 62% from 2020)
  • ROCE of 8.1% (from 5.1% in 2020)
  • Executed transactions amounting to US$614 million (61%) of the US$1 billion value realization target by 2023
  • Loan to value ratio of 6.7% (from 9.2% in 2020)
  • Blended cost of debt of 4.3% (from 4.5% in 2020)
As a Group, we have been able to continuously demonstrate our ability to raise capital across various initiatives, as investors continue to place their trust in the Ayala brand.
  • AC and subsidiary ACEN successfully issued fixed-forlife bonds, raising US$400 million at 3.9% and US$400 million at 4.0%, respectively
  • ACEN successfully conducted various fundraising exercises, including a stock rights offering, follow-on offering, and adjacent sale of secondary shares of ACEN to GIC
  • Issued a social bond for AC Health through a private placement with IFC amounting to US$100 at 2.993%
  • We maintained leadership and strengthened expertise in our businesses, including:
    1. Ayala Land in large-scale mixed-use and sustainable estates
    2. BPI as among the top three banks in the country with leadership in new banking technology and sustainable financing
    3. Globe as a digital platform with leadership in telecommunications and fintech and major interest in various digital solutions
    4. ACEN as one of the fastest growing energy companies in the region and at the forefront of energy transition towards a low-carbon economy
  • A competent workforce of more than 85,000 direct employees across our businesses
  • Deep bench for leadership positions across the group
  • Good quality of life for employees and their families, including holistic support provided amid the COVID-19 pandemic
  • Management excellence as evidenced by award-winning teams across Finance, Governance, Strategy, and Strategic Human Resources
  • Ayala remains a strong and trusted brand
  • Sustained ongoing relationships with existing business partners, while keeping our doors open for new ventures and partnerships
  • Established strong linkages with private sector and government in the Philippines to jointly address and manage the impact of the COVID-19 crisis
    1. The Ayala Group was part of Project Ugnayan, a private sector consortium which supported economically displaced Filipinos amid the crisis, in partnership with Caritas Manila and the Philippine Disaster Resilience Foundation (PDRF); the Group launched Project Kaakay, a feeding and livelihood program aiming to support 10,000 families across Metro Manila
    2. The group is a strong supporter of Task Force T3 (Trace, Test, and Treat), the government’s project with private sector to ramp up the health system capacity and roll out vaccination

Our Outlook

Ayala defines its strategy in the context of key global, regional, and local trends that we believe will impact markets, sectors, and businesses in which we choose to invest and operate. We monitor the evolving macroeconomic environment and adapt our strategic and investment decisions. Our goal is to remain well-positioned to leverage and mitigate the impact of these factors.

The COVID-19 pandemic disrupted nearly every aspect of businesses and of people’s lives. In the Philippines, recurring lockdowns were imposed throughout 2020-21 to curb the spread of the virus. With the Philippine population now largely vaccinated, and with measures in place to allow the reopening of businesses, schools, and other institutions, we expect economic activity and growth to ramp up. Economic indicators have improved, with GDP growth of 5.6% and loan growth of 5.4%. While we recognize that some uncertainty remains, organizations nimble enough to adapt to changes will thrive.
How Our Strategy Addresses ThisBusinesses in the Ayala Group are wellpositioned to capture growth from thereopening of the economy. Our strong financial position, owing to our healthy balance sheet, ensures we have the ability to take advantage of market opportunities as they arise by deploying capital investments to cater tocontinuing demand. Should there be a resurgence in COVID-19 cases, or if other situations result in restricted mobility, we are likewise prepared with flexible scenario-based plans to continue to serve our customers, to maintain the interests of investors, and to ensure the health and safety of our employees and partners.

Alongside the economy reopening, we expect the gradual return of stronger consumer spending. Unemployment has recovered to single digit from a 15-year high at the height of the lockdown in April 2020, and we believe this will continue to shrink as mobility improves and as the economy recovers. Strength in consumer demand over the medium- to long-term is supported by a young population, resilient remittances, continuous urbanization, and a steady base of micro, small, and medium-sized enterprises, which help spur economic activity within their own communities.
How Our Strategy Addresses ThisWe continue to prioritize the Philippines with our businesses positioned to contribute to and grow alongside the country’s development. Each of our businesses continue to explore ways to address the needs and demandsof the broader market – such as BPI’s renewed focus on its Consumer and SME segments, providing a broad array of residential options through Ayala Land, and catering to the broad base of Filipinos’ healthcare needs through AC Health. We keep an eye on changes in customer needs and behaviors, and are beginning to explore innovative business models to complement our presence in traditional services.
IntellectualSocial and Relationship

Increasing access to technology coupled with the mobility restrictions due to the COVID-19 pandemic have accelerated the transition to digital, with rising demand for innovative and contactless product and service solutions. To meet this evolving demand, new ecosystems such as e-commerce, fintech, and ondemand logistics continue to grow and mature. We expect competition to intensify as technology-enabled challengers enter traditional industries, and as traditional players begin to make significant investments to upgrade their own capabilities.
How Our Strategy Addresses ThisWe keep empowering our business units to embark on their own digital transformation journeys. As we explore new ways to integrate digital tools into our businesses, we place greater emphasis on those that allow us to serve our customers better, and help reduce costs and frictions within the organization. Many recentlyimplemented digital solutions are expected to remain for the long-term. Furthermore, we maintain our support for investments in new ecosystems – such as GCash for financial paymentsand AC Logistics for logistics – as wellas build the necessary core capabilities within the organization, such as data analytics, to fuel growth.

We believe that to create sustainable and long-term value, private enterprises must continue to strive for deeper engagement with society to address our current environmental, social, and governance (ESG) issues. To address these issues, and heed the renewed call to action across many stakeholders, we see a trend towards more inclusive business models, investments in promising new technologies, more industries promoting the sustainable use of resources, and an increased focus on socially responsible investing strategies.
How Our Strategy Addresses ThisWe are increasingly deliberate about We are increasingly deliberate about our contributions to the United Nations Sustainable Development Goals (SDG), which we first outlined in our Sustainability Blueprint: Bridging the Filipino to 2030. In addition to our SDG commitments, Ayala is committed to achieving Net-Zero Greenhouse Gas Emissions (GHG) by 2050, and alongside this, to measuring and improving our ESG risk and impact. Each business unit has committed to actionable and measurable sustainability initiatives, and we continue to incorporate sustainability in the performance metrics for our leaders.

ACEN is supporting the global economy’s decarbonization goals by pivoting its generation portfolio towards 100% renewables and spinning of all its thermal capacity by 2025.
IntellectualIntellectualSocial and Relationship

Greater collaboration between the private, government, nongovernment, and academic institutions is more crucial than ever to unlock innovative and effective solutions to today’s challenges. The flexibility and speed that a collaborative ecosystem can provide is critical to achieving our shared goals of a more sustainable and inclusive society. Building on the deeper foundation of cooperation, the silver lining of the COVID-19 pandemic, we expect these partnerships to flourish across administrations as the country promotes economic recovery set against a backdrop of new risks to growth.
How Our Strategy Addresses ThisAyala Corporation, and the broaderAyala Group, proactively helps address the health, social, and economic needs of the country in line with our shared values of nation building. Across different industries, we actively engage existing and potential partners to jointly address emerging issues. Through collaboration with policymakers, the academe, and partner organizations, our Public Policy team and Regulatory Council participate in policy discussions on key reforms, which contribute to the overall economic growth and development of the country
HumanSocial and Relationship

The ongoing conflict in Eastern Europe added new price pressures to global energy prices that have been soaring amid a rapid rebound in post-pandemic oil demand. Effects of the resulting rise of commodity prices worldwide reach the Philippines through supply chain disruptions and rising inflation.
How Our Strategy Addresses ThisWhile we expect continued volatility in commodity prices, our various business units are working to hedge exposures and limit the financial impact through initiatives such as long-term contracting of raw materials. Together with our business units, we are focused onmaintaining a healthy balance sheet to weather looming economic headwinds. We continue to monitor the evolving situation and the resulting impact to input costs, foreign exchange rates, inflation, and overall macroeconomic sentiment and are prepared to recalibrate our plans accordingly.
FinancialSocial and RelationshipHuman

Our Vision Pillars

Four pillars guide our decisions on business development, capital allocation, portfolio management, and balance sheet management. These pillars represent our commitment to focused execution amid a crucial period of recovery, delivering on capital investment to support broad economic growth while still maintaining a strong capital position, transforming our businesses to deliver an unparalleled customer experience, and continued leadership in sustainability

Underpinning our vision pillars is an unwavering commitment to the Filipino – to doing our part to drive economic recovery from the crisis, and to ensure continued support for national development.


Our businesses were affected in varying degrees by the pandemic, owing to the diversified nature of the group. Regardless of the magnitude of impact, recovery from the crisis requires focus in executing strategic initiatives that enable the business to not only return to pre-pandemic levels, but to thrive in this new environment.

Management decisions and new initiatives of the holding company are anchored on the following three-point strategic agenda to achieve focus and scale:

  • Continued expansion of our core value drivers – Ayala Land, BPI, Globe, and AC Energy – including delivery of strong financial performance and continued market leadership
  • Building scale in our emerging health and logistics businesses while addressing critical needs of the country
  • Sharpen our portfolio with an increased focus on value realization to fund future investments and further strengthen our balance sheet, targeting to raise US$1B in proceeds by 2023

In addition to the above strategic agenda, we aim for recovery of financial performance to pre-COVID levels by 2023.

  • Recovery of financial performance to pre-COVID levels, including our subsidiaries Ayala Land, BPI, AC Industrials, and iPeople
  • Continued reinvention and growth of Globe and AC Energy amid a dynamic market
  • Building scale in our emerging businesses AC Health and AC Infra while addressing critical needs of the country
  • Delivering on key value realization initiatives to sharpen the portfolio and recycle capital into high growth opportunities
  • Continued market leadership in our core industries and developing meaningful presence in emerging sectors
  • Outperform industry peers in total shareholder return (TSR)
  • ₱50 billion NIAT
  • 15% ROCE
  • Outperform peers in total shareholder return and growth in market capitalizaton
  • Outperform PSE TSR
  • Increased earnings capacity and quality, and in addition, pursued value realization consistent with our strategy
  • Diversified returns through exposure to various industries


We believe capital investment is an important piece in driving recovery. We seek investments that enable growth and generate positive economic externalities, balanced with good returns.
  • Delivery of capital expenditure plans to fuel growth and economic activity, while maintaining a disciplined portfolio strategy that ensures balanced returns
  • Active management of our debt and cashflows, alongside ongoing value realization initiatives, to ensure that our balance sheet remains strong enough to support recovery and fuel concentric ventures
  • Delivery of capital expenditure plans to fuel growth and economic activity, while maintaining a disciplined portfolio strategy that ensures balanced returns
  • Active management of our debt and cash flows to ensure that our balance sheet remains strong enough to support recovery and fuel concentric ventures
  • 20% of Equity Earnings from emerging businesses
  • Higher earnings contribution of emerging businesses, driven by AC Energy which continues to grow its renewable energy portfolio


As consumer demands evolve and new digital channels transform the way we interact with customers, excellence in the way we deliver our products and services is a key differentiating factor, which can drive growth.
  • Delivering a best-in-class customer experience across both traditional and digital channels for all business with consumer touchpoints
  • Identifying and executing key synergy initiatives across our business units, which drive value for the group, our businesses, and our customers
  • Further the data analytics capabilities of the Ayala Group to drive meaningful insights for strategic decision-making and to harness opportunities
  • 10% of Equity Earnings from international businesses
  • Expanded our presence in Southeast Asia through a landmark investment in the Yoma Group, and furthered our operations in Vietnam, Indonesia, and Australia


Recovery is most meaningful when it is inclusive, so we carry on addressing gaps in environmental, social, economic, and governance frameworks. We continue to invest in our employees and partnerships as critical pieces of what enable businesses and society as a whole to thrive.
  • Development of a roadmap and appropriate metrics towards the achievement of Net-Zero Greenhouse Gas Emissions by 2050, as aligned with the Science Based Targets initiatives (SBTi)
  • Continued progress towards our 2030 Ayala Sustainability Blueprint, which is aligned with the UN Sustainable Development Goals (SDGs) Framework
  • Set to achieve target of having at least two female directors (or 30% of board composition) with the nomination of Ms. Chua Sock Koong for election in the 2022 annual stockholders’ meeting, three years ahead of timeline
  • Solidify the Ayala brand as employer of choice in the Philippines and across the region, through providing continued support and meaningful opportunities to our employees, and by developing a reputable and diverse bench of leaders within the different business units
  • Furthering partnerships with the private and public sectors, and supporting the rollout of the country’s national vaccination roadmap to alleviate the impact of COVID-19
  • Establish an ESG management framework focusing on climate change and broader ESG risks across our core businesses
  • Continued progress towards our 2030 Ayala Sustainability Blueprint, which is aligned with the UN Sustainable Development Goals Framework
  • Solidify the Ayala brand as employer of choice in the Philippines and across the region, through providing continued support and meaningful opportunities to our employees, and through developing a reputable and diverse bench of leaders within the different business units
  • Furthering partnerships with the private and public sectors, and supporting the rollout of the country’s national vaccination roadmap to alleviate the impact of COVID-19
  • Define shared value targets for all business units (UN SDG)
  • Board stakeholder recognition
  • Forged partnerships with strong institutions that can further our growth ambitions
  • Further strengthened the integration of Sustainability and Risk Management to company strategy by aligning with Corporate Governance and including them as part of the Board Agenda
  • Forged partnership with a leading global Sustainability group
  • Continued commitment to the Ayala Sustainability Blueprint

Risk Management

At the apex of the risk intelligent enterprise is risk governance—the unifying touchstone and guide to the organization’s risk management efforts. It seeks not to discourage appropriate risk-taking, but to embed relevant and effective risk management procedures into all of an enterprise’s business pursuits.
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For the full Risk Management article click here.

Stakeholder Engagement

Ayala embraces a stakeholder-inclusive approach to value creation. We consider the influence our stakeholders have on our business decision-making process. As such, we constantly involve, consult, and collaborate with them as we strive to articulate the value we endeavor to create through our various communication and engagement platforms. By understanding the needs and meeting the expectations of our different stakeholders, we strengthen trust and confidence in our organization.


  • Investors and Shareholders
  • Government Agencies and Regulators
  • Bank Counterparties and Creditors
  • Insurers
  • Business Partners and Affiliates
  • Media
  • Suppliers
  • Industry Associations
  • Employees
  • Communities
  • Customers
  • Nature
Oriental Mindoro, a key biodiversity hotspot in the Philippines, has some of the densest and most diverse ecosystems in the country, making it a major food basket for the island of Luzon.

"Businesses cannot survive in communities rife with inequity and in a degraded environment. Ignoring the challenges faced by the world today threatens our ability to create long-term value and jeopardizes enterprises, markets and entire societies.”"

Jaime Augusto Zobel de Ayala

How We Engage

Regular Channels of Engagement

  • Membership
  • Special events such as conference, forums
  • Webinar or online events
  • Face-to-face meetings

Covid-19 Initiatives

  • Supported our principals in their participation in public forums organized by business clubs and other institutions (e.g. Makati Business Club, DTI). Increased awareness of Ayala’s initiatives in supporting our stakeholders throughout the pandemic; furthered discussions in relevant industries (e.g. electronic payments)

Key Concerns Raised

  • Continuing support and long-term relationship with key stakeholders
  • For speaking engagements, they request presence and content contribution

Our Strategic Response

  • Sponsorship requests go through an evaluation which includes an assessment on the alignment of interest
  • Anticipated delays in the implementation of projects due to movement restrictions

How We Engage

Regular Channels of Engagement

  • Press briefings and conferences
  • Planned or scheduled media events, social gatherings, and meetings
  • Interviews with key officers
  • Invitation to company events
  • Regular company updates through corporate websites, emails, phone calls, social media, etc.

Special Activities or Initiatives

  • Annual Group-wide media appreciation night

Key Concerns Raised

  • Error in published or landed reports

Our Strategic Response

  • Correct misinformation by calling the reporter or editor to request re-posting of corrected information

How We Engage

Regular Channels of Engagement

  • Collaborative interventions, training, learning action cells sessions for teachers
  • Online engagement, meetings, dialogues, coordination through phone calls, messenger audio/ video calls
  • Signing of Memorandum of Agreements, partnership agreements, and issuance of Certificate of Donations

Special Activities or Initiatives

  • Continuous mentoring on management and resolving production issues through social media group chats to maintains open communication with all partners, including the community
  • Presence in special celebrations despite limited number of farm visits.
  • Virtual coordination meetings with key DepEd stakeholders initiated by the AFI Education team to keep DepEd stakeholders engaged while waiting for the delivery of their respective ProFuturo suitcases

Covid-19 Initiatives

  • We conducted COVID-19 awareness sessions in partnership with MDC Greens, which encouraged farm workers to get vaccinated.
  • Sariwani, AFI’s partner coop’s brand for vegetables and other products, put up a donation page in 2020, which raised more than ₱100,000 for Buyani in 2021. Funds collected were used to buy rice, eggs, and vegetables delivered to some 14,000 individuals in communities affected by mobility restrictions due to COVID-19.
  • Teachers were kept updated on the ongoing activities of AFI Education to sustain their engagement on the project through various means such as the “Kwento ng Kagitingan” series, training, among others.

Key Concerns Raised

  • Inang Kalikasan Cooperative (IKAC) in Calauan was struggling to secure their CDA and BIR compliance
  • Covid-19 surges that limit face to face intervention
  • Poor connectivity in areas with no or low internet signal difficult
  • Changes in leaderships and systems that weaken capacities to implement project commitments
  • Lack of financial means to support their families during pandemic, causing farmers to find alternate jobs
  • Covid-19 surges that limits face to face intervention
  • Too many positions they want us take, too little time plus limited resources

Our Strategic Response

  • AFI sought out consultants to help IKAC manage the cooperative. The consultants continue to help the group not only to resolve the concerns with BIR and CDA but also to improve its operations.
  • Used all available online communication channels to ensure the project is delivered and concerns are addressed
  • Provided supplementary sessions or one-on-one discussions to follow-through on missed activities
  • Respect changes, and find better ways to present the project concept and get the buy-in of the new leaders
  • AFI supported the cooperative by providing salaries for three 15-day pay periods, which jumpstarted IKAC’s operations, enabling most farmers to go back to their regular work in the farm.
  • Anticipated delays in the implementation of projects due to movement restrictions
  • Prioritize and make known to them our limitations in order to manage expectations. Educate stakeholders on our organizational culture (highly collaborative but with clear guidelines, systems and processes).

Engagement Strategy

  • Continue to provide customers reliable access to our services during the pandemic and beyond
  • Adopt novel and innovative engagement activities that aid in the transition to the “new normal

Our Strategic Response

  • Improve our internal communications infrastructure to provide uninterrupted customer service
  • Actively practicing recommended safety protocols in all of our business units
  • Increase customer engagement and response in our social media accounts
  • Increase functionality of our digital platforms to include previously face-to-face customer interactions
  • Develop and strengthen our digital platforms for direct customer interface
  • Provide physical services that espouse the rules and principles of safe social distancing

Key Concerns Raised

How each key concern was addressed

Ayala Land
  • Customer engagement and satisfaction amid the pandemic
  • Digital client-engagement tools: Buyer’s Portal, Digital Sales and Marketing, Virtual Tours and Showrooms, Online Appointment System
  • Customer health and safety
  • Adherence to health and safety protocols
  • Facilities and property management
  • Deployed stay-in workers to ensure continued operations despite the lockdowns
  • Clients disclose their personal information or OTP to fraudsters
  • Met with clients with disputed transactions related to fraud and help educate them. We assisted in formulating spiels to clients advising them we can provide assistance should they want to make a report to NBI or file cases against the perpetrators
  • We requested concerned business units to post customer awareness materials on phishing, vishing, and smishing in the bank’s website
  • Active involvement in the discussions with cybercrime and concerned business units to help mitigate or avoid fraudulent cases
  • Addressing client concerns promptly
  • Customer feedback forms available at all branches
  • Ensured that BPI and its business units’ contact information are provided in marketing materials, email replies, and other correspondences
  • Continued enhancement of the BPI Customer Assistance Program so feedback from customers and potential customers are well handled in alignment with the Bank’s consumer protection policies
  • Undispensed ATM withdrawal
  • Periodic maintenance of machines and replacement of older machines to address hardware concerns
  • Regular coordination with partner suppliers to ensure reliable and secure access to the network
  • Digitalization: As quarantine restrictions continued in 2021 due to a surge in COVID-19 cases, customer demand for a reliable network continued to increase, especially for families who work and study from home.
  • 1.4 million lines, surpassing 2021 target
  • Built 1,407 cell sites, which includes both 4G/LTE
  • Expanded 5G outdoor coverage network through installation of over 2,000 5G sites nationwide (96% of NCR and 84% of VisMin key cities)
  • As demand for connectivity increased, more customers were in need of immediate support for their issues and concerns.
  • Globe leveraged the use of digital channels and technologies (i.e., mobile apps, Viber communities, self-service IVR, chatbot and online shop) to attend to customers faster. This was complemented by an agent-assisted outbound support to resolve complex concerns
  • Agent-assisted calls remain available to senior citizens and other customers in need of utmost care
  • Overall Net Promoter Score (NPS) hit its highest in 6 years, peaking at 38 points, above the APAC telco benchmark of 30
  • Contact Center NPS registered at 55.1 compared to 11.9 in 2020
  • Online safety
  • Globe blocked a total of 1.15 billion scam and spam messages, around 7,000 mobile numbers linked to scammers, and 2,000 unofficial social media accounts and phishing sites last year, as we vowed to further boost customer protection amid increased activity online under the pandemic
  • The company continues to regularly provide its customers with relevant information about fraud, cybersecurity, and data privacy to boost awareness and help protect themselves against these threats
  • We stepped up efforts to help the government to stop online sexual abuse and exploitation of children through strategic partnerships
  • Globe’s Digital Thumbprint Program runs education programs on online safety for the youth, teachers, and parents
  • Keeping up-to-date on certain information during lockdowns
  • Globe gave free access to emergency numbers and government hotlines using any Globe mobile and landline numbers
AC Health
  • Misinformation regarding COVID-19 vaccines
  • AC Health continued to be a key knowledge resource for COVID-19, hosting webinars and publishing social cards on vaccine FAQs via its Facebook page
  • Meeting healthcare demands despite mobility limitations and rise in COVID-19 cases in healthcare facilities
  • Healthway Clinics remained operational especially for non-COVID cases. Together with QualiMed, they offered more home-based services (i.e. diagnostics, testing, home care management).
  • IE Medica, MedEthix, and Generika Drugstore ensured access to COVID and non- COVIDS medicines and supplies. Generika and HealthNow also offered medicine delivery services through their platforms.
  • HealthNow mobile app offered an integrated health platform, allowing users access to teleconsultation services, and order medicines for delivery. It reached 795,000 registrations and retained 55,000 monthly active users.
  • Demand for COVID-19 vaccines and boosters
  • Leveraging AC Health’s full ecosystem, the team launched its own COVID-19 vaccination program, COVIDShield, which administered over 640,000 doses of vaccine for key partners within and outside of the Ayala Group across 30+ sites nationwide in 2021.
  • Access to COVID-19 diagnostics, treatment, and in-patient care
  • At the onset of the pandemic, AC Health led a consortium to invest in and scale up national RT-PCR testing capacity through 5 accredited labs that can process up to 4,000 tests daily. AC Health continued to offer the PCR testing services through Healthway and QualiMed sites
  • MedEthix expanded its portfolio, including being the first to bring into the country Molnupiravir, an oral antiviral treatment for COVID-19. This was made accessible to patients through Healthway, QualiMed and HealthNow.
  • QualiMed hospitals served as COVID-19 referral centers, catering to demand for in-patient care, and dedicating over half of total bed capacity to COVID cases.
AC Energy
  • Inability to operate on pre-pandemic basis resulting to lower electricity consumption (schools, retail)
  • Provided a contract that doesn’t penalize customers due to reduced volume: actual consumption was the basis of the bill and no imposition of minimum energy quantity
  • Collection risk for some customers with cash flow concern due to pandemic
  • Closely monitored our collections and provide relief to customers by approving customer’s requests to waive incurred interests and penalties
  • Timely submission and compliance of switching requirements to ensure successful switching of accounts despite logistics concerns and unavailability of signatories due to pandemic
  • Assigned a dedicated team to handle the switching process and provide necessary assistance to customers, taking care of the logistics in routing documents for signature and notarization
  • Providing continuous engagement activities for customers
  • Switched to mostly virtual activities
  • Impact of Typhoon Odette on some of our customers in Visayas such as interrupted operations, significant damage in property and welfare of their employees
  • Immediately reached out to all affected customers and provided donations in kind (bottled water and grocery items)
  • Closely monitored restoration of connection
AC Motors
  • Regaining customer confidence to visit dealerships during the pandemic
  • Launched health protection activities inside the dealerships
  • Implemented safety protocols for sale and after-sale transactions
  • Offered home servicing as an option, following all health provisions by the dealer and only upon customer’s consent and cited conditions
  • Implemented scheduled home test drives and sales calls
  • Health checks of all associates, visiting customers and guests
  • Home delivery of brand-new units
  • Used digital tools, such as chat bots, to engage customers prior to showroom visits
  • Implemented scheduled test-drives to allow for vehicle sanitations
  • Units in the showroom are sanitized regularly
  • Only sales executives assigned in the showrooms were allowed to work onsite to minimize foot traffic in the dealership
  • Ensuring physical distancing and safe waiting at customer lounges
  • Placed markers in all dealerships and distributors facilities
  • Limited customer lounge occupancy
  • Ensured service efficiency at every customer touchpoint and work flow
  • Delayed new unit availability and delivery
  • Constant sales team (for distributors) and sales executive or consultants (for dealers) engagement with customers regarding unit availability and timeliness of unit releases as well as completeness of document processing
  • Continued distributor engagement with OEM partners to align on production limitations or issues and also for OEM partners to understand local demand or need for certain models
  • Encouraged customers to settle their payments through bank transfers for their convenience
  • Delayed parts availability, delayed service unit delivery
  • Launched online channels such as The Mechanics by AC Motors, AC Motors online store, AC Motors online financing; video solutions like VentaVid for customer prospecting, virtual test drive, virtual new unit vehicle presentation; activated home service or offsite service for individual and corporate customers
  • Reinforced quality inspection to prevent recurring back jobs
  • Surges in COVID cases in the latter part of 2021 (when in person classes had started)
  • Encouraged vaccination and boosters for students and employees; reiterated policies on minimum public health standards
  • Mental health concerns of students and employees during the pandemic
  • Increased accessibility to online counselling for students and employees; increased number of academic coaches and advisers made available to students for academic concerns
  • Lack of participation of students and employees in institutional activities
  • Increased online activities
  • Health insurance
  • Students who will participate in limited face to face classes required to register with Philhealth or given other insurance options; employees’ company insurance already cover COVID but only up to the maximum insurance benefit limit which varies per school
  • Spread of virus from customers to employees, and vice-versa
  • Minimized risk by reducing physical interaction in business areas and physical payment facilities, and adoption of QR Codes for contact tracing
  • Launched a one-stop customer portal for bill inquiry, payments, and more through My Manila Water App (MMWA)
  • Lack of capability to pay water bills due to financial distress caused by the pandemic
  • Suspension of disconnection
  • Provided flexible payment solutions
  • Service disruptions
  • Regular posting of planned and unplanned activities to social media
  • Component shortage, supply chain disruptions
  • Worked with customers and suppliers on mitigation strategies and cost sharing
  • Recruitment and retention – loss of talent ability to hire based on skill requirements
  • Alignment to industry standard compensation and benefits
  • ESG, Climate Action, and Green Energy initiatives of customers
  • IMI alignment with customer programs and initiatives on carbon neutrality and NetZero ambition; and with AC and consultants to refine IMI ESG strategy
  • Increase in fraudulent transactions
  • Created a verification process to screen transactions based on identified fraud trends, suspected email, name and address syntax
  • Surge of customer contacts due to delays
  • Partnered with First Mile third party logistics to ensure all orders are delivered following FIFO (First In-First Out) methodology. Sent out proactive communications via email and SMS to customers re delays
  • Created an escalation process in partnership with Entrego to expedite the delivery of aged parcels in hubs with low OTD (On Time Delivery) % to improve overall delivery experience. Like First Mile delays, we activated proactive communications via email and SMS in addition to regular transactional communications sent to customers.
  • Marketplace seller cancellations
  • Partnered with Marketplace Operations, identified seller outliers and established a clear line of communication for escalation to ensure that all customers concerns are addressed, particularly for cancellations due to sellers’ capacity to fulfill orders in relation to COVID 19 cases and government restrictions
  • Delivery lead time management
  • Enabled proactive communications strategy via SMS on top of the regular transactional emails to update customers real-time on order delivery
  • Pricey marketplace shipping fees
  • Launched dynamic shipping fees based on item weight and size to effectively set customer expectations

How We Engage

Regular Channels of Engagement

  • Coordination meetings
  • Bid openings
  • Negotiation

Covid-19 Initiatives

  • Assisted employees in procuring mask, vitamins and medicines during the pandemic.

Key Concerns Raised

  • Payment coordination: some invoices received were not original copies so there was a delay in processing

Our Strategic Response

  • Remind delivery teams to submit the original invoices

How We Engage

Regular Channels of Engagement

  • Meetings and video conference calls
  • Formal correspondence and email
  • Economic briefings
  • Roadshow Presentations

Special Activities or Initiatives

  • International credit investor engagement through a deal roadshow during its US-Dollar Fixed-for-Life bond issuance
  • Access to quarterly analyst’s briefings and annual stockholders’ meeting
  • Creditors conduct regular briefings to the company on relevant topics such as financing alternatives, economic and market outlook, and alternative benchmark rates in light of the phasing out of LIBOR rates at the end of 2021
  • Regular communication with creditors on financing requirements, market, and credit updates
  • Knowledge sharing on innovative solutions on operations management, leveraging new technologies

Covid-19 Initiatives

  • Ayala Corporation and Ayala Land were the first issuers to utilize the E-Securities Issue Portal (E-sip), which allowed for the online registration and processing of documents. This also paved the way for the digitalization of the capital markets. This facilitated submission of documents for capital market issuances given the current work- from-home setup.

Key Concerns Raised

  • Resilience of the Company
  • Financing plans
  • Balance sheet levels

Our Strategic Response

  • We maintained our strong credit reputation, optimized our financing, and engaged with creditors throughout the COVID-19 pandemic
  • Diversified financing remained one of our top priorities in 2021. Our issuances are opportunistic in nature. The capital markets were a funding option given liquidity in the market and ability to capture long-term rates at favorable levels despite an expected rise in interest rates.
  • Sustained balance sheet strength, high cash levels, and availability of credit facilities to finance growth opportunities


Regular Channels of Engagement

  • Dialogues and meetings (typically Board and Executive Committee level)
  • Communication with project partners
  • Due diligence for possible investments and partners

Special Activities or Initiatives

  • In 2021, we continued to support strategic partners such as Yoma and Mitsubishi by exchanging best practices, and extending assistance where possible during the pandemic. We also continued to support various group-wide initiatives to support Ayala Corporation’s broader ecosystem of partners, vendors, and suppliers.

    Our chairman was invited to be part of the Council for Inclusive Capitalism as one of its stewards. We continuously engage with our counterparts in the Council for future joint initiatives; and constantly communicate our progress on our inclusivity commitments. Locally, we support the Philippine Business Groups’ Covenant for Shared Prosperity through dialogue with partner business associations. Work continues in developing collaborative, tangible initiatives in pursuit of the Covenant’s goals.

Covid-19 Initiatives

  • Throughout the year, we supported management in key dialogues between public and private sector representatives,providing thought leadership amid uncertainty due to the COVID-19 pandemic. Through representation of our management, these initiatives promoted greater and more frequent collaboration between the public and private sectors, as well as with the academe.

Key Concerns Raised

  • Management and governance (i.e., succession plans, compensation, diversity)
  • Financial Performance (i.e., balance sheet, recovery from impact of COVID-19)
  • Financial Outlook and Risks

Our Strategic Response

  • Transparency and timeliness of disclosures and reporting, strong governance processes upheld within the holding company
  • Working with various teams within AC and the Ayala Group to ensure that the company is able to deliver strong financial performance
  • Regular engagements (dialogues, meetings, etc.) conducted with partners and experts to shape our outlook, and develop informed views and targets

How We Engage

Regular Channels of Engagement

  • Policy dialogues, consultations and meetings, and legislative hearings
  • Regular reportorial requirements and other official correspondence
  • Briefings, forums and conferences (mostly online)
  • Annual audits
  • Formal proceedings
  • Membership in committees organized by the government

Special Activities or Initiatives

  • Distributed copies of the Liveable City Playbook on e-government, basic services, resilience, mobility and financing to government officials and employees to enhance local competitiveness and strengthen local government units’ capacity to provide public goods and services to citizens

Covid-19 Initiatives

  • Participated and contributed in policy discussions and drew up policy recommendations to IATF, which were adopted as policies to ensure safe opening of the economy while protecting people’s health.

Key Concerns Raised

  • Request for private sector support for government initiatives, programs, or policies
  • Completion/clarification of compliance requirements

Our Strategic Response

  • Submission of position paper on requested topic such as health, education, pandemic response, economic recovery, public-private sector collaboration, among others.
  • Organizing/co-organizing events that promote public and private sector collaboration
  • Participation in and/or expression of support to government initiatives, programs, or policies
  • Sponsorship
  • Correspondence with relevant government agencies

How We Engage

Regular Channels of Engagement

  • One-on-one meetings/teleconferences
  • Investor Conferences
  • Deal and non-deal roadshows
  • Bespoke Ayala group corporate access days
  • Email correspondences
  • Quarterly results briefings
  • PSE/PDEX disclosures
  • Company website
  • Integrated Report
  • Annual stockholders’ meeting
  • Bespoke IR Summit

Covid-19 Initiatives

  • Ayala’s Investor Relations group shifted all stakeholder engagements to online channels to ensure proper and regular information dissemination to analysts, investors, and other stakeholders despite restrictions to mobility. This ensured accessibility of management to investors and analysts through online investor conferences and nondeal roadshows hosted by sell side.
  • The team also shifted its operations virtually, conducting the Annual Stockholders’ Meeting in a full virtual format and publishing the annual Integrated Report through a remote work set up within the deadline prescribed by regulators.

Key Concerns Raised

  • Lack of clarity on strategy
  • Post-COVID19 economic reopening

Our Strategic Response

  • Ayala launched a three-point strategic agenda for 2023 before the investor community and capital market to demonstrate its efforts to ride out the crisis, adjust to the evolving landscape, and prime itself for a post-pandemic environment. The strategic agenda outlines Ayala’s sharper approach on its portfolio, focusing on the four core businesses, two emerging businesses, and value realization initiatives to be carried out through a combination of strategic partnerships and divestments of some of the non-core assets.

    The strategic agenda was well-received by investors and analysts. Ayala provides regular updates on the progress of the strategic agenda

  • Throughout the extended period of lockdowns that delayed the reopening of the country’s economy, we regularly met investors and analysts to provide perspectives on the health and economic situation, and how these would impact the performance, operations, and plans of our businesses.

How We Engage

Regular Channels of Engagement

  • Virtual meetings
  • Focus group discussions
  • Pulse checks and employee engagement surveys
  • Mental health and wellness surveys
  • e-Learning platforms and webinars
  • New partnerships with universities, platforms, and content providers

Engagement Strategy

Professional development

  • Virtual training sessions
  • Support for degree-earning programs

Holistic growth

  • Flexible work arrangements
  • Online engagement activities
  • Regular physical and mental health assessments

Compensation and Benefits

  • Budget coverage for niche or technical upskilling requirements
  • Study loans with below-the-market interest rates and study leaves
  • Provision for additional amount for COVID-19-related cases should employees’ expense go beyond current HMO limit or coverage; and access to loan should any of their family members get hospitalized

Covid-19 initiatives

  • Crisis and Disaster Team and Occupational Safety and Health Office deployment
  • Implementation of the four Phased Work Arrangement Framework
  • COVID 19 3Ps response plan: provided a playbook on who to contact in case anyone gets infected or exposed to the COVID-19 virus; gave collaboration tools for employees to safely deliver outputs; and sent COVID care kits to employees’ homes
  • Company clinic doctors and partner doctors, including psychologists, available for free teleconsultation
  • Chatbot ACE (Assistant for Crises and Emergencies) for the Occupational and Safety Health Officer to manage reports of employees or family members who were ill or got exposed to the virus; and note living circumstances, including means of transportation to and from the workplace of employees and outsource partners
  • Makati testing centers set up as soon as Rapid Antibody Test kits were available, where employees went prior to reporting for work
  • End-to-end process and support: HMO coverage, quarantine spaces (in Sta. Rosa, Laguna), hospitals under AC Health
  • Signages, proper layout of the work spaces, and compliance with safety protocols in offices for those who needed to go to there
  • Ayala Vaccine and Immunization Program (AVIP)/COVIDShield vaccinated employees (100%), and outsource partners, including family members, relatives and other household members; annual vaccination program for flu, pneumonia and other vaccines
  • Promotion of employee physical wellness through e-engagement activities
  • Existing hospitalization benefit plus an additional ₱300 thousand for COVID-19- related cases should employees’ expense go beyond their current HMO limit/coverage; access to loan if any of their immediate family member is hospitalized due to COVID-19
  • Creation of a project team and appointment of a Mental Health Officer to provide support on mental wellness; partnership with Ateneo Center for Organization Research and Development (CORD) and Mind You to provide access to preventive therapy and counseling; opening more slots for teleconsultations with psychologists
  • Institutionalization of practices that encourage being mindful of others’ needs and unique situations, and set boundaries between remote work and personal lives: self-care and journaling workshops; three-hour weekly focus time to give employees breathing space; Make it EC (Effective Collaboration); reducing time spent in virtual meetings; keeping evenings, rest days, and leaves free by unplugging from work

Key Concerns Raised

  • Stress, work-life balance: recent mental wellness survey yielded a neutral resilience level among our employees
  • Low rate of participation or completion for certain programs
  • Some technical or niche skills are not covered by regular program offerings; challenges in finding the time to participate in learning programs
  • Access to support for degree-earning programs
  • Addressing talent and skills gap; actively developing new pools of talents purposively

Our Strategic Response

  • Streamlining of processes to ensure there is sufficient staff to handle the workload; anticipating heavy workload periods; scheduling meetings in advance to discuss upcoming work and projected timelines for completion; and involving employees in decisions regarding the best use of resources
  • Flexible work arrangement: observing core hours; shifting to output-driven mindset
  • Ayala employees collectively spent about 1,000 hours on wellness learning on mindfulness, psychological first aid, and building resilience
  • Ayala engages with these stakeholders directly to work with them in evaluating learning providers, and in exploring other options that meet their upskilling requirements, as well as in allocating budget to cover corresponding expenses
  • Ayala provides different modalities of learning for diverse learners; we have onboarded online self-paced learning platforms that can help employees upskill anytime while still maintaining our synchronous learning programs
  • Ayala provides study loans with below-the-market interest rates and study leaves for those interested to pursue degree-earning programs in foreign or local institutions. We have partnered with top global institutions (i.e., Harvard, INSEAD) and research experts to ensure high-quality programs for our stakeholders. For example, the Ayala Leadership Acceleration Program (LEAP), co-developed by Harvard Business Publishing, participated in by leaders across the different business units of Ayala, gives opportunities for leaders to access recent leadership thinking direct from the experts, and network with other leaders across the group, and be exposed to different operational challenges of different industries. We have also partnered with Coursera and Emeritus which give our stakeholders access to content from universities and leading experts.
  • The team has collaborated with the functional leaders to achieve a learning agenda that is important to Ayala. This collaboration includes co-developing or sourcing appropriate courses such as data privacy, cybersecurity, and anti-money laundering programs.

How We Engage

Regular Channels of Engagement

  • Regular cadence meetings with our risk advisor for updates on market trends and new risks
  • Regular meetings and discussion with various stakeholders on new insurance products
  • Risk studies specific to business units, including risk engineering surveys, business interruption studies, and natural catastrophe modeling, among others.

Special Activities or Initiatives

  • Insurance roadshows highlighting our focus on risk management, and our sustainability milestones. This resulted in increased support from new insurers as well as competitive proposals from existing partners on various programs being optimized for the Ayala Group
  • Insurance stewardship meetings mid-(policy) year to get updates from major insurance partners on new trends and targets, providing us a better understanding of what we need to plan for the following year.

Covid-19 Initiatives

  • During the roadshows, special focus was made on how we are doing, and planning to move forward from the impacts of COVID 19.

Key Concerns Raised

  • Pricing and capacity restrictions from stakeholders especially as market conditions have to stabilize post pandemic
  • Limited opportunities to meet with stakeholders
  • Our resilience in managing COVID-19 related challenges
  • Coal-related energy investment risks
  • ESG issues

Our Strategic Response

  • We provided all updated underwriting information with enough time for review and negotiation
  • Our risk advisor was constantly providing us with market updates for us to be prepared to manage challenges faced by our stakeholders
  • We provided information on our response to the pandemic, being both optimistic and transparent with our plans
  • We laid down our cards, giving updated and transparent information based on available information
  • We always present the company’s ESG targets, activities, and achievements, underscoring the support we get from top management as well as from our subsidiaries in terms of meeting our commitments.

Nature is a key stakeholder for almost all organizations. The natural world provides raw materials and life-sustaining ecosystem services we need to survive. Nature, however, is declining at an unprecedented rate. If our natural ecosystems are degraded or collapse entirely, more than half of the global economic value generation will be adversely affected.

At Ayala, we acknowledge that nature loss must be addressed purposively and systematically. Aligned with the WBCSD’s Global Goal for Nature, we look forward to working with experts, policymakers, investors, innovators, and consumers to translate this goal into practical and actionable steps for companies from all sectors.

We ensure that our businesses operate sustainably through the responsible management of their impacts to nature and the environment.

We have initiatives such as Project Kasibulan’s Mindoro Forest and Biodiversity Conservation Program ( page 116), a groupwide forest and biodiversity conservation program to preserve and enhance the remaining high value forests in Oriental Mindoro. Project Kasibulan is an example of a nature-based solution which protects and sustainably manages natural ecosystems to lower concentrations of greenhouse gases in the atmosphere. The program simultaneously addresses climate change, supports local communities, and conserves one of the most the biologically diverse ecosystems in the Philippines.