Globe Telecom reported that it has maintained its MSCI ESG (Environment, Social, and Corporate Governance) Rating of "AA" for the second consecutive year.
In a disclosure to the Philippine Stock Exchange, the firm noted that MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.
MSCI assesses governance structures, policies, targets, performance metrics, and any related controversies of companies.
Globe said its consistent "AA" rating “demonstrates its proactive approach to managing risks and its dedication to sustainable business practices.”
As the first Philippine company with science-based net zero targets approved by the Science Based Targets initiative (SBTi), Globe has made significant strides in minimizing its carbon footprint.
In 2023, the company achieved an 18 percent reduction in emissions through various green initiatives, including energy management programs, increased use of renewable energy, and strategic operational changes.
To ensure fair representation of Globe’s GHG emissions, Globe’s data in 2023 underwent third party verification.
Building digital trust also remains a top thrust for Globe as it has implemented robust cybersecurity measures, including Risk Based Vulnerability Management (RBVM) and regular audits.
Globe's significant investment in cybersecurity, totaling approximately $101.2 million since 2015, underscores its focus on protecting customer data and ensuring the integrity of its digital infrastructure.
On the other hand, Globe's care for its employees is evident in its comprehensive benefits package which exceeds mandatory government requirements.
Pursuant to Globe’s Board Risk Oversight and Sustainability Committee (BROSC) charter, the BROSC’s role is to oversee Globe’s sustainability policies, strategies, and programs and ensure appropriateness in addressing sustainability-related risks and opportunities and effectiveness and alignment in addressing expectations of the stakeholders.
Globe has also implemented ESG-linked incentives for executives and employees, fostering a culture of responsibility and excellence throughout the organization.
“We are committed to upholding the highest standards of governance, which is integral to our overall ESG strategy. Our consistent 'AA' rating is a testament to Globe's rigorous approach to compliance and governance.
“This recognition not only reflects our dedication to ethical business practices but also underscores our role as a responsible corporate citizen," said Globe Chief Compliance Officer Marisalve Ciocson-Co.
In the face of long-term ESG-linked risks, Globe said it consistently demonstrates its resilience, innovating and adapting to the evolving landscape of digital solutions.
Its commitment to sustainable business practices sets a benchmark for the industry and creates long-term value for all stakeholders.