The Philippines’ leading integrated telco network PLDT Inc. (PLDT) has been named among the top corporations in the ASEAN region for corporate governance.
PLDT has been included in the ASEAN Asset Class in the ASEAN Corporate Governance Scorecard (ACGS) for 2021.
An initiative of the ASEAN Capital Markets Forum, the ACGS entails a peer-review process that is conducted every two years and participated by six ASEAN countries: Indonesia, Malaysia, Philippines, Thailand, Singapore and Vietnam. The initiative aims for the companies across the region to improve their corporate governance and promote ASEAN as an investment destination.
PLDT was among over 230 companies which scored at least 97.5 in the 2021 ACGS.
PLDT said it was grateful to the ASEAN Capital Markets Forum for the recognition. “The Company benchmarks its policies and procedures with the ASEAN Corporate Governance Scorecard and other international best practices to ensure that the Company continues to strengthen and elevate its corporate governance standards,” said PLDT Vice President and Corporate Governance Enforcement Head Ma. Magdalene A. Tan.
Previously, PLDT was also awarded as one of the top companies in the region in the ACGS for 2019.
In 2020, PLDT and its wireless subsidiary Smart Communications Inc. (Smart) also reinforced their commitment to good governance and ethical business practices at the 75th session of the United Nations General Assembly (UNGA 75). This was through the Group’s participation in the world’s largest corporate sustainability initiative, the UN Global Compact (UNGC), with PLDT Chairman Manuel V. Pangilinan and PLDT President and CEO Alfredo S. Panlilio among the 1,000 international leaders supporting the landmark “Statement from Business Leaders for Renewed Global Cooperation” launched that year.
Panlilio also reaffirmed the Group’s UNGC commitments in PLDT and Smart’s Communication on Progress (CoP) reports released in 2021 and 2022, which highlighted progress in various areas including corporate governance principles.
