Globe dominated the ASEAN Corporate Governance Scorecard (ACGS) in a virtual awarding ceremony held on January 29. The Securities and Exchange Commission (SEC) with the Institute of Corporate Directors (ICD) recognized Globe and other Philippine companies which excelled in the 2019 ACGS assessment.
Globe won in all prestigious award categories, being the lone telco to do so, among publicly listed firms in six of the participating ASEAN member countries - namely Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines.
“Corporate Governance plays a significant role in the Globe Purpose. Our vision mission and core values are manifestations of how engrained corporate governance is in the business,” said Globe President and CEO Ernest Cu.
Globe was given the following recognition: Top 20 ASEAN Publicly Listed Companies, Top 3 Publicly Listed Companies per Country (Philippines), and ASEAN Asset Class Publicly Listed Companies.
“The Circle of Happiness ensures that accountability, transparency and integrity are applied when we engage with our customers and stakeholders to address their needs and assist their lifestyles. The Globe mission statement caters to the business’ accountability and sustainability even amid challenging times. At Globe, corporate governance is not simply about adhering to rules and regulations. Corporate governance is part of Globe culture and the business’ journey,” added Cu.
Globe is accompanied by Ayala Land, Inc. in all three categories, with Ayala Corporation and Bank of the Philippine Islands joining in the roster for the ASEAN Asset Class category.
Introduced in 2011, the ACGS recognizes corporate governance achievements of publicly listed companies in the region, with the first inaugural awarding ceremony held in 2015. Globe has been consistently in the list since then.
“Corporate Governance is about achieving equilibrium between business and compliance in an organization. While not always easy, we work together to achieve and preserve this to keep Globe truly sustainable,” said SVP - Law and Compliance, Chief Compliance Officer and Asst. Corporate Secretary Marisalve Ciocson-Co.
The ACGS is a joint effort of the ASEAN Capital Markets Forum (ACMF) in partnership with the Asian Development Bank (ADB) aimed at promoting integration within the region and the ASEAN as an investment asset class. The ACGS is composed of two levels that focus on key corporate governance principles including rights and equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and responsibilities of the Board, with bonus and penalty items.
Assessment of the top ASEAN publicly listed companies based on market capitalization were conducted using a Scorecard supported by rigorous methodology and benchmarked against international principles and best practices.
Globe’s dedication to corporate governance was also repeatedly acknowledged by domestic and international award giving bodies, which include recognition from Alpha Southeast Asia Magazine’s 10th Annual Poll for Institutional Investor Corporate Awards, and London’s Ethical Boardroom where it received the “Best Corporate Governance - Telecoms - Asia 2019” award.
Globe is committed to upholding the 10 UNGC principles and the UN Sustainable Development Goals (UNSDGs). The company has also made it to the FTSE4Good Index Series for the fifth consecutive year, as well as received an “A” rating from MSCI ESG, proving its dedication to Environmental, Social, and Governance (ESG) practices that help shape society’s sustainable future.
Globe further strengthened its commitment to environmental transparency by disclosing its environmental impact through the Carbon Disclosure Project (CDP), a global non-profit that runs the world’s leading environmental disclosure platform. The company received a B- rating from CDP in 2020, for its commitment to continuously manage and fight climate change.