‘Capitalism for good’: Sabin Aboitiz joins bilyonaryos in global non-profit

Sabin Aboitiz is joining fellow bilyonaryos in the quest for inclusive economic growth and sustainable business practices.

The president and CEO of Aboitiz Equity Ventures has been named as Steward of the Council for Inclusive Capitalism (CIC), a global nonprofit organization.

CIC seeks to “change capitalism for good,” according to its website. Among other prominent names serving as CIC stewards are Century Pacific Foods’ Christopher Po, Ayala Corp. chairman Jaime Augusto Zobel de Ayala, and Nestle CEO Mark Schneider.

More than the Aboitiz clan’s diverse assets, Sabin was chosen because of the company’s impact. CIC described the Aboitiz Group as providing “life-essential products and services to one-fifth of the Philippine population.”

The Aboitiz Group has been pivoting its business processes to be more tech-driven, branding itself as a “climate-conscious techglomerate.” Aboitiz was recently named as a business adviser to President Bongbong Marcos.

“I am honored to be part of an organization that brings people from all over the world together to make sure the capitalist ideal of a global free market economy remains beneficial for all people everywhere, without exception, preference, or prejudice,” Aboitiz said in a statement.

Panguil Bay bridge now 61% complete

Construction of the 3.17-kilometer bridge that will reduce travel time between Lanao del Norte and Misamis Occidental is now 61 percent complete, according to the Department of Public Works and Highways (DPWH).