Water utility concessionaire Maynilad Water Services Inc. bagged the first Philippine Green Equity label as regulators seek to deepen the local capital market by attracting more investors toward sustainability initiatives.
In a letter to Maynilad on Sept. 26, the Securities and Exchange Commission (SEC) markets and securities regulation department confirmed that the water utility provider had ‘sufficiently established and demonstrated’ its compliance with the commission’s newly issued guidelines.
The SEC last week launched Southeast Asia’s first Green Equity Guidelines, allowing more capital flows toward businesses that champion sustainability. Under Memorandum Circular No. 13 Series of 2025, companies may submit applications to carry the Philippine Green Equity label. Once approved, eligible companies may label their shares as green equity prior to their offering. This comes as a timely milestone for Maynilad, which plans to raise up to P34.33 billion from its upcoming initial public offering (IPO) next month.
Maynilad has so far secured the commitment of two cornerstone investors, International Finance Corp. and Asian Development Bank, that plan to chip in as much as $245 million to its IPO. /dda