PLDT representatives who were present at the virtual awarding ceremony of the ASEAN Corporate Governance Scorecard (ACGS) included (1st row, L-R): FVP and Head of PLDT-Smart Corporate Communications Cathy Yang and VP and Head of Corporate Governance Enforcement Ma. Magdalene A. Tan
The country’s largest integrated telecommunications company, PLDT Inc., was awarded as one of the top companies in the region in the ASEAN Corporate Governance Scorecard (ACGS) for 2019.
In line with the commitment of the Securities and Exchange Commission (SEC) to continuously improve the corporate governance climate in the country, PLDT was recognized as one of the ASEAN Asset Class Publicly Listed Companies (PLCs) together with 17 other Philippine PLCs. These refer to ASEAN PLCs that obtained a score of 97.5 and above in the international benchmark.
The ACGS is an assessment tool based on publicly-available information and benchmarked against international best practices on corporate governance. This is supported by a rigorous methodology developed by corporate governance experts across the region to assess the corporate governance standing and performance of publicly listed companies in the six participating ASEAN Member Countries namely: Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.
Prior to the ACGS citation, PLDT and its wireless subsidiary Smart Communications Inc. (Smart) reinforced their commitment to good governance and ethical business practices at the 75th session of the United Nations General Assembly (UNGA 75) in 2020.
This was through the group’s participation in the world’s largest corporate sustainability initiative, the UN Global Compact (UNGC), which spearheaded the landmark “Statement from Business Leaders for Renewed Global Cooperation.” PLDT Chairman and CEO Manuel V. Pangilinan and Smart President and CEO Alfredo S. Panlilio joined the said pact along with over 1,000 international leaders.
PLDT and Smart are registered under the UNGC as the only Philippine telco participants. A tier higher than signatories that are limited to local engagement, participants actively engage with the UNGC at the global level to integrate the organization’s Ten Principles on human rights, labor, environment and anti-corruption.
The UNGC Statement presented at the UNGA 75’s Private Sector Forum requires PLDT and Smart to, among others, commit to ethical leadership through values-based strategies, policies, operations and relationships when engaging with all stakeholders. This is expressed in PLDT and Smart’s high commitment to its fundamental policies --corporate governance and the Code of Business Conduct and Ethics. PLDT and Smart benchmark against recognized international best practices and consistently monitor developments in corporate governance - the cornerstone of the Group’s strategy.
Good Governance and Ethical Business Practices are one of the seven sustainability pillars that make up the PLDT Group’s Sustainability Framework. Other sustainability pillars are Awesome Customer Experience and Quality of Service, Growth-driven Innovation, Responsible and Efficient Operations, Effective Environmental Stewardship, Excellence through Human Capital, and Positive Community Impact.
