Property giant Megaworld Corp. announced plans to expand its carbon forest cover from 240 hectares to approximately 1,500 hectares this year, marking a more than sixfold increase. The expansion, which will bring forest cover to about one-fifth of its total landbank, is part of the company's broader reforestation and decarbonization strategy in partnership with the Philippine Army and local communities.
To date, Megaworld has planted over 550,000 trees nationwide, with these efforts expected to capture around 40,000 tons of carbon dioxide equivalent. The carbon forests are located in key areas across Luzon and the Visayas, including Quezon City, Tarlac, Pampanga, Bulacan, Cavite, Rizal, Batangas, Palawan, Cebu, Iloilo, Aklan, and Bacolod.
The reforestation program falls under "Project Tree Point Five Million," which aims to plant 3.5 million native and endemic trees across Megaworld's townships and partner communities. The initiative not only captures emissions but also restores ecosystems and supports livelihoods through the planting of fruit-bearing trees like cacao.
Megaworld's sustainability head, Jose Arnulfo Batac, emphasized the company's focus on protecting forest lands and scaling up environmental efforts with partner organizations. Beyond reforestation, the company has transitioned its office, mall, and hotel properties to 100% renewable energy, achieving carbon neutrality for Scope 1 and Scope 2 emissions in its commercial portfolio ahead of schedule.
These initiatives are part of Megaworld's "MEGreen" program, which consolidates its environmental, social, and governance (ESG) efforts aligned with the United Nations sustainable development goals.