Maynilad Water Services, Inc., the water provider serving over 10 million people in Metro Manila’s West Zone, has earned a “medium green” rating in its Climate Transition Assessment (CTA) from S&P Global Ratings—signaling strong progress in aligning with global sustainability goals.
S&P Global Ratings, a global leader in credit and sustainability evaluations, uses its CTA to gauge how ready companies are for the shift to a low-carbon economy. The assessment looks at governance, strategy, climate targets, and risk management.
For Maynilad, the recognition is significant: S&P noted that 100% of the company’s revenues come from activities deemed environmentally sustainable under its CTA framework. The assessment also confirmed the utility’s alignment with global standards, including the International Finance Corporation’s guidance for blue finance and the World Federation of Exchanges’ Green Equity Principles.
Maynilad’s “medium green” score was attributed to key climate-focused initiatives, including:
- Reducing non-revenue water losses
- Expanding potable water reuse through its NEW WATER project
- Restoring watersheds
- Investing in critical infrastructure upgrades
These efforts not only advance Maynilad’s climate agenda but also reinforce its mandate to deliver safe, reliable water and wastewater services to millions of Filipinos.
S&P’s report also pointed out the ambition of Maynilad’s carbon neutrality target, calling it notable in the Philippine context—where a national net-zero commitment is still lacking.
“This independent assessment provides a transparent benchmark of our climate transition efforts,” said Atty. Roel S. Espiritu, Maynilad’s Chief Sustainability Officer. “It highlights both our progress and the areas where we can continue to strengthen.”
The full Climate Transition Assessment report can be accessed here: https://www.spglobal.com/ratings/en/regulatory/delegate/getPDF?articleId=3431961&type=COMMENTS&defaultFormat=PDF