Budget carrier Cebu Pacific Air (CEB) has achieved an "AA" rating from its previous "A" rating in 2023, marking another milestone in sustainable aviation.
The upgrade earned from MSCI ESG Ratings recognizes the airline as one of the leading carriers globally in effectively addressing environmental, social, and governance (ESG) challenges.
According to CEB, MSCI ESG Ratings evaluate public and private companies based on their exposure to ESG risks and how effectively they manage them, using a scale ranging from AAA (leader) to CCC (laggard).
An "AA" rating signifies a "strong" performance in managing industry-specific risks compared to peers.
"We're incredibly proud of this recognition," Alexander Lao, Cebu Pacific President and Chief Commercial Officer, said.
"Our commitment has always been to operate in a responsible and sustainable way. This upgraded rating reflects our progress in addressing environmental, social, and governance challenges. By adopting innovative practices, such as operating high-density, fuel-efficient aircraft, we're reducing carbon emissions and helping our passengers make more sustainable travel choices. These initiatives are part of our comprehensive effort to promote a sustainable aviation industry," he added.
By operating a fleet with an average age of just six years, significantly younger than the industry average of nine years, CEB has effectively improved fuel efficiency and reduced carbon emissions.
The carrier also excelled in social performance metrics, particularly in implementing robust data privacy measures and enhancing labor management practices, and consistently ranks highly in these areas, supported by strong employee engagement programs and compliance with international safety standards, such as the IATA Operational Safety Audit (IOSA).
The airline is also dedicated to enhancing its practices to maintain its leadership in ESG performance, fostering long-term success and resilience in its operations.
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