Cebu Pacific (PSE: CEB) continues to make strides across the three dimensions of sustainability – environmental, social, and governance (ESG), as highlighted in its recently released 2023 sustainability report, “Sustained Momentum.”
With the milestones featured in the report, CEB, the Philippines’ leading carrier, has solidified its position as the pacesetter in sustainable aviation in the country.
“We remain committed to pursuing sustainability in aviation through initiatives that mitigate our environmental impact, enhance operational efficiency, and contribute to economic progress. Furthermore, we are dedicated to continuously integrating responsible business practices that support our growth ambitions in the future,” said Xander Lao, CEB President and Chief Commercial Officer.
CEB’s environmental thrust centers on decarbonization. Its core strategy is modernizing its fleet with the advanced and fuel-efficient New Engine Option (NEO) aircraft. With 43% of its fleet consisting of NEO aircraft, the airline reduced its carbon emissions by 161,000 tonnes. CEB aims to have an all-NEO fleet by 2028. The airline also saved 16 million kilograms of jet fuel by implementing flight optimization and comprehensive fuel efficiency best practices, which further reduced carbon emissions by almost 51,000 tonnes.
Apart from this, CEB’s sustainability priorities emphasized strong social responsibility. This includes investing and empowering employees, evidenced by the signing of a collective bargaining agreement with Juan Wing Association of the Philippines, the airline’s cabin crew union. Furthermore, CEB champions diversity, equity, and inclusion through its “IncluCEB Space” program, launched in 2023 to foster acceptance and empowerment among its workforce.
In terms of governance, CEB received a 3-arrow golden recognition under the Golden Arrow Awards that recognized the airline as one of the top Philippine listed companies in corporate governance. Moreover, CEB improved its ESG performance in both its S&P Global ESG score and MSCI ESG ratings
For these efforts CEB has gained recognition from both local and international bodies in 2023. The airline’s decarbonization initiatives were recognized with a gold rating by the Centre for Asia Pacific Aviation’s (CAPA) Global Airline Sustainability Benchmarking Report. CEB was likewise hailed the Most Sustainable Low-Cost Airline in the Philippines by World Economic Magazine.