Property giant Megaworld notches its biggest sustainability milestone to date as it officially achieves carbon neutrality for all its company-owned office and mall developments across the country. This achievement covers 52 developments, all of which are 100% operational, Megaworld-owned commercial properties located in the company's various townships all over the Philippines. Based on data compiled by Megaworld in partnership with Diligent, a global leader in governance, risk, and compliance (GRC), the company's gross carbon emissions from operational Megaworld-owned properties accounted for about 69,000 metric tons in 2023, 98% of which came from electricity consumption (Scope 2), while the rest were from fuel consumption (Scope 1).
Of this total, 51% came from Megaworld-owned mall developments while the remaining 49% was recorded from its office properties. With the company's recent move to begin tapping renewable energy as a power source, Megaworld was able to offset about 36,000 metric tons of carbon emissions during the previous year. Through its partnership with MPower, a subsidiary of Meralco, Megaworld is looking into a 100% shift to renewable energy for all its company-owned office and mall properties in the next three years.
Since 2021, Megaworld has already planted around 100,000 trees inside its dedicated carbon forests across the country. The company also supported carbon offsetting projects certified by Verra, the world's biggest certifier of voluntary carbon o.
