Cebu Pacific receives CAPA Gold Rating for sustainability initiatives, posts higher ESG score for 2023

Cebu Pacific (PSE: CEB) solidifies its position as a leader in sustainable aviation as it received the prestigious Gold rating from the Centre for Asia Pacific Aviation (CAPA) and secured an environmental, social, and governance (ESG) score of 41 from S&P Global for its sustainability initiatives.

In the 2023 CAPA-Envest Global Airline Sustainability Benchmarking Report, CEB’s performance in reducing carbon emissions, integrating sustainable aviation fuel (SAF), and transparently disclosing sustainability metrics earned the airline a spot among the top 19 carriers awarded the Gold rating.

This also positioned CEB as the highest-rated airline for sustainability in the Philippines and one of the only two low-cost carriers (LCC) in Southeast Asia to achieve this distinction.

In addition to its CAPA Gold rating, CEB improved its ESG score to 41 in 2023 from 38 in 2022, ranking in the 69th percentile among 63 assessed airlines by S&P Global.

The S&P Global ESG Score assesses a company’s performance in ESG management by analyzing company disclosures, media and stakeholder reports, and in-depth company engagement.

CEB scored the highest in the social dimension, with a rating of 53, exceeding the industry average of 44. This strong performance was complemented by significant improvements in the environmental dimension, where the airline boosted its rating from 20 in 2022 to 26. In terms of governance, CEB also rebounded to 41 from its prior rating of 39. These achievements showcase the airline’s commitment to social responsibility and sustainability across various metrics.

“We firmly believe that the future of aviation lies in sustainable practices. CAPA’s acknowledgment of our enhanced environmental, social, and governance performance underscores our steadfast commitment to sustainability. This also motivates us to further explore innovative solutions to reduce our environmental impact and contribute positively to the community,” said Alex Reyes, chief strategy officer of Cebu Pacific.

Besides these accolades, CEB was recently hailed as the Most Sustainable Low-Cost Airline in the Philippines for 2023 by World Economic Magazine. In 2022, it also received the Asia Environmental Sustainability Airline/Airline Group of the Year award from CAPA for its exemplary integration of sustainable programs into its operations and collaborative efforts with industry stakeholders.

Over the years, CEB has consistently implemented initiatives to reduce its environmental impact and promote sustainable development. The airline has invested in modern, fuel-efficient new engine option (NEO) aircraft, implemented fuel-saving operational procedures, and transitioned to using electric vehicles (EV) and equipment.

As CEB continues to grow and expand its operations in 2024, the airline remains committed to integrating sustainability into its core business strategy while ensuring safe, reliable, and accessible flights for every Juan.