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Manila Bulletin devider Business devider Aboitiz Group bags triple Golden Arrow Awards

Aboitiz Group bags triple Golden Arrow Awards

Published Sep 30, 2023 06:27 am
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From left: UnionBank Lead Independent Director, Roberto Manabat; Aboitiz Equity Ventures Vice President for Governance & Compliance, Mailene De La Torre; and AboitizPower Senior Vice President and Chief Legal and Compliance Officer, Mickey Colayco, receive plaques of recognition from the ASEAN Corporate Governance Scorecard’s (ACGS) Golden Arrow Awards.

With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard (ACGS).

This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. (AEV) received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points.

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AEV First Vice President and Chief Reputation and Sustainability Officer, Ginggay Hontiveros-Malvar, accepts the 4-arrow award on behalf of Aboitiz Equity Ventures, Inc.

“This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s Chief Reputation and Sustainability Officer.

AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation.

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AboitizPower Chief Legal and Compliance Officer, Mickey Colayco, accepts the 3-arrow award on behalf of Aboitiz Power Corporation.

The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community.

Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed.

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UnionBank Lead Independent Director, Roberto Manabat, receives the 3-arrow award on behalf of Union Bank of the Philippines.

In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity.

“This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower President and Chief Executive Officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.”

“We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank Lead Independent Director Roberto Manabat. 

Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment.

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