Globe bagged coveted slots in all award categories of the 2019 ASEAN Corporate Governance Scorecard (ACGS) and is the only telecom company to do so among the listed firms in the six participating countries, namely Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines.
ACGS was introduced in 2011 in recognition of the 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.
This time, Globe was given top recognition in the following categories: Top 20 ASEAN Publicly Listed Companies, Top 3 Publicly Listed Companies per Country (Philippines), and ASEAN Asset Class Publicly Listed Companies. 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.
“We are honored to be recognized for our efforts. This is a testament to how serious Globe is in implementing and maintaining a proactive corporate governance culture alongside the aggressive business environment. Despite potential uncertainties ahead, we look forward to upholding our commitment to the practice of good corporate governance to continuously deliver a holistic value for all our stakeholders,” said Marisalve Ciocson-Co, Globe SVP for Law and Compliance, Chief Compliance Officer, and Assistant Corporate Secretary.
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, the latest of which came 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.
For more information, visit www.globe.com.ph.