GCash clinches wins at ESGBusiness Awards 2024 for GForest and inclusivity
The fintech leader was recognised for its climate tech initiative that supports reforestation and
agroforestry, as well as for championing women in tech and workplace inclusivity
GCash, the Philippines’ leading finance super app and largest cashless ecosystem, was honoured with the Climate Advocacy and Education Award – Philippines and Gender Equality and Women Empowerment Award – Philippines accolades at the ESGBusiness Awards 2024 for its exceptional climate action initiative and dedication to a diverse and inclusive work environment.
Transformative environmental tech initiative
The Philippines, renowned for its rich biodiversity, faces significant environmental challenges due to the adverse effects of climate change, most significantly severe weather events such as extreme heat and strong supertyphoons, which impact communities.
In response to these pressing issues, GCash launched GForest in 2019, a pioneering initiative designed to encourage its users to contribute to reforestation efforts and mitigate climate change impacts. It has since grown into a digital eco-movement that also spans agroforestry efforts to help boost the livelihood of farmers in various local communities throughout the Philippines.
“Our goal when we started GForest in 2019 was to make it easier for GCash app users to contribute to environmental efforts through tree planting,” explained CJ Alegre, sustainability head at GCash. “Through digital transactions, GCash users are able to reduce their carbon footprint, which is equivalent to in-app energy points that users can use to plant virtual trees.”
He continued, “In turn, GCash, together with its international and local partners, plant actual trees throughout the Philippines, at no cost to users. At present, GForest has planted over 2.8 million of various species, ranging from mangroves to native trees to fruit-bearing trees, including coffee and coconuts across the Philippines.”
GForest’s design features several key elements for success. It uses science-based metrics to measure carbon reductions from digital transactions, incorporates gamification for user engagement through competitive rankings, and partners with credible organisations like the WWF, Ramon Aboitiz Foundation, Silliman University, etc. to select indigenous tree species and crops and support community livelihoods.
Moreover, GForest collaborates with environmental experts to determine the ideal species of trees in an area and to ensure that planted seedlings have a high survivability rate. All harvests from the trees also go to their respective communities, boosting the livelihoods of farmers who earn an incremental P25,000 annually from the produce.
In 2020, GCash set a goal to plant 2.3 million trees by the end of 2023. Despite the challenges, they surpassed this target by nearly 500,000 trees. Building on this success, GCash has now committed to planting a total of 10 million digital trees by the end of 2025. To date, GForest has 19 million registered users who have contributed to these tree-planting efforts.
Dedicated to collaborating with local partners to advance sustainability efforts and address broader community development needs, Gcash was recognised with the Climate Advocacy and Education Award – Philippines accolade at the ESGBusiness Awards 2024.
Empowering gender equality and inclusive culture
Sustainability and diversity, equity, and inclusion are key pillars of GCash’s sustainability strategy. With 55% of its over 90 million Filipino user base being women, GCash prioritises a diverse, equitable, and inclusive workplace that actively supports and values women’s contributions.
Acknowledging the financial needs of women and the broader societal megatrends, GCash understands the crucial role women play in driving the development of relevant and impactful financial services and solutions.
The company’s commitment to inclusivity has led to women comprising 47% of its workforce and 49% of its leadership in 2024, well above the tech industry averages of 28.8% and under 10%, respectively.
“GCash is committed to gender equality and diversity through several key initiatives. Our DEI Day x Day Training programme equips employees with inclusive communication skills and practices, achieving a 99% participation rate and 87% DEI certification. This commitment is reflected in an 88% inclusive management score from HR Asia Best Companies to Work for and Great Place to Work Surveys, indicating strong support for inclusive behaviour and equal opportunities,” shared GCash chief people officer Robert Gonzales.
The company also supports career advancement for women, particularly in tech, through programmes like GTalks, which connect employees with women leaders for career insights and leadership journeys. GCash’s no-mandatory dress code policy empowers employees to come to work as they are, dressed comfortably and authentically.
Additionally, GCash fosters an inclusive culture by partnering with Gallup to identify employees’ strengths and facilitate career mobility, leveraging Gallup’s focus on people’s strengths to succeed in their careers.
GCash’s commitment to championing women, diversity, equity, and inclusivity in the workplace earned them the Women Empowerment Award – Philippines honour at the ESGBusiness Awards 2024.
“We are honoured to be recognised by the ESGBusiness Awards for our environmental protection and women empowerment initiatives. This recognition inspires us to strive for a better Philippines—where we can help enable more Filipinos to thrive every day, be prepared for a rainy day, and plan for one day,” stated GCash president and CEO Martha Sazon.
The ESGBusiness Awards recognises and celebrates companies that lead the way in building a sustainable future. The awards programme honours businesses that demonstrate outstanding commitment and achievement in environmental, social and governance (ESG) practices.
