Manila Water continuously adheres to the integrated reporting standards as a means of aligning the Company with the external environment. This Integrated Report presents the Company’s previous year’s performance of the operating business units and a thorough account of its strategy and governance. This has been reviewed by Senior Management before publication.
NOTE ON FORWARD-LOOKING STATEMENTS
Certain statements and illustrations contained in this report may constitute “forward-looking statements” within the meaning of applicable securities, laws and regulations. These statements (including plans, objectives, projections, and estimates) and illustrations include information that does not relate solely to historical or current facts, and can be identified by the use of words such as “may,” “believe,” “expect,” “anticipate,” “assume,” “estimate,” “plan” or “continue,” and similar expressions or by future or conditional verbs such as “should”, “would” and “could.“
Such statements are based on current expectations of future events, estimates and certain assumptions of our management. These are therefore subject to certain risk factors and uncertainties, some of which are beyond our control, and which may cause the actual results, the financial situation, the development or the performance to differ materially from the estimates or performance implied in these forward-looking statements. We do not assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such statements.
This report covers all financial information, as well as economic, environmental, social and governance performance of all Manila Water operating subsidiaries, namely the Manila Concession (East Zone) of the Metropolitan Waterworks and Sewerage System (MWSS), Manila Water Philippine Ventures (MWPV), Manila Water Asia Pacific (MWAP) and Manila Water Total Solutions (MWTS). This report is aligned with the Integrated Report <IR> Guidelines by the International Integrated Reporting Council (IIRC). It is also in reference to the Global Reporting Initiative (GRI) Standards. The GRI disclosures that have been referred to are in the GRI Content Index page. The information contained in this report covers the period from January to December 2019.
ON OUR FINANCIAL STATEMENTS
SGV & Co. is the external auditor of the Company’s financial statements, with Djole S. Garcia as the new lead engagement partner given the required audit partner rotation every five years. More information about our audit process is found here, while our financial statements can be downloaded here.
ON OUR SUSTAINABILITY PERFORMANCE
Senior Management appointed DNV GL, an independent organization and a global provider of certification, assurance assessment, and training services. This is the fourth time we contracted the services of DNV GL with their scope limited to conducting assurance and validating the figures and information pertaining to our sustainability performance and <IR> Frameworks presented in this report.
The Independent Assurance Statement found here validate that the report is in reference with the Global Reporting Initiative (GRI) Standards and aligned with the Integrated Reporting Guidelines. It guarantees the shareholders and readers of the reliability of the reviewed data, claims, and information contained in this report. The Statement also contains the assurer’s findings and recommendations for our Company’s succeeding reporting period.