Business

Globe receives Four Golden Arrow recognition on Corporate Governance

Globe received the coveted Four Golden Arrow Award during the ASEAN Corporate Governance Scorecard recognition ceremony held on February 19.

The company was recognized by the Institute of Corporate Directors (ICD) for its outstanding domestic performance at the ACGS 2019 Assessment. The ICD is the domestic ranking body for the Philippines.

Globe was the lone telco to receive the Four Golden Arrow Award, currently the highest award to be given to assessed Philippine companies. The same recognition was given to its sister company, Ayala Land, Inc. The prestigious citation reinforces Globe’s commitment to adopt ethical and best practices across its businesses.

“We are truly elated to receive this recognition. This is a manifestation of the strong collaboration between corporate governance and business at Globe. We look forward to sustaining the corporate governance culture in the organization to continue enabling business growth and creating value for all our stakeholders,” said Marisalve Ciocson-Co, Globe’s Senior Vice President for Law and Compliance, Chief Compliance Officer and Assistant Corporate Secretary.

The Golden Arrow is awarded to publicly-listed companies (PLCs) and insurance companies that achieved the scores of at least 80 points in the 2019 ACGS Assessment. There are five levels of performance with corresponding scores that will identify the number of golden arrows.

“The golden upward-pointing arrow symbolizes the continuing efforts of the Philippine companies to raise the level of compliance with the ASEAN corporate governance principles and we are proud to be one of them,” said Ciocson-Co.

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.

The ACGS is a joint effort of the ASEAN Capital Markets Forum (ACMF) and 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 of corporate governance.

Globe recognizes the importance of good governance in realizing its vision, carrying out its mission, and living out its values to create and sustain increased value for all stakeholders.

As proof of its commitment, Globe has 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 environment transparency when it formally joined the globally-recognized Task Force on Climate-Related Financial Disclosure recently.

Globe’s annual Integrated Report is also in accordance with the ACGS, the Securities and Exchange Commission’s Integrated Annual Corporate Governance Report and key Sustainability Reporting Frameworks. Globe’s corporate governance updates, activities, documents, reports and policies are publicly available through https://www.globe.com.ph/about-us/corporate-governance.html

Globe’s corporate governance initiatives are also in support of the 10 UNGC principles and the UN Sustainable Development Goals (UN SDGs).

For more information, visit www.globe.com.ph

0 0 vote
Article Rating
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x