MANILA - The board of directors of leading property firm Ayala Land recently announced that a new board committee has been formed: the Sustainability Committee.

In a disclosure to the stock exchange last Friday, the listed company said the Sustainability Committee “will guide policy-making in the [Ayala Land] sustainability program and provide oversight in [Ayala Land’s] sustainability management efforts.”

Ayala Land is one of the very few companies in the Philippines that have instituted environmental and social aspects in their development projects.

It is one of the, if not the only, company in the Philippines that report their progress in these 2 aspects, on top of the mandatory accounting of the financial performance to the company stockholders.

Sustainability Reports of Ayala Land follow the globally recognized format of the Global Reporting Initiative, which provides for detailed accounting of measurable outputs in terms of carbon emissions, labor standards, among others.

In its 2008 Sustainability Report, the property firm said, “Sustainability remains our guiding principle in enhancing land and enriching lives. Ayala Land is committed to 6 key sustainability practices: developing land responsibility, pursuing green building design, employing sustainable construction practices, progressing on efficient power and water use as well as solid waste management, community stewardships, and conservation practices.”

It has also partnered with non-government organizations, including the World Wide Fund for Nature-Philippines, which is a specialist in , how businesses mitigate climate change and meet complex stakeholder expectations.

In high-end leisure resort Anvaya Cove, for instance, jet skis—which can be harmful and disruptive to marine life—are prohibited.