Globe was once again recognized for its outstanding corporate governance practices, receiving the esteemed Five Golden Arrow Award from the Institute of Corporate Directors (ICD) at the 2023 Golden Arrow Awards Ceremony held recently in Okada Manila.
The accolade marks the second consecutive year for Globe to win the award, further solidifying its position as a top-performing publicly-listed company in the Philippines under the 2022 ASEAN Corporate Governance Scorecard (ACGS).
Of the four recipients of the Five Golden Arrows, Globe stands out as the only telecom company, a distinction it also held last year.
The Golden Arrow is a symbol of excellence in corporate governance. Companies that earn this award have scored at least 80 points out of a possible 130 in the ACGS Assessment based on their adherence to the Philippine Code of Corporate Governance and internationally recommended corporate governance practices. The 5 Golden Arrow recognition, in particular, is indicative of an ACGS score between 120 and 130 points.
The ACGS is a collaborative initiative between the ASEAN Capital Markets Forum (ACMF) and the Asian Development Bank (ADB). Its primary goal is to elevate the ASEAN region as an investment asset class by emphasizing key corporate governance principles. These principles encompass the rights and equitable treatment of shareholders, the role of stakeholders, disclosure and transparency, and the responsibilities of the Board.
Marisalve Ciocson-Co, Globe’s Chief Compliance Officer, SVP – Law and Compliance, and Assistant Corporate Secretary, expressed her pride in the company’s achievements.
“While maintaining best practices in an organization is always a journey, Globe has achieved a strong balance between governance and business. This is exhibited by the untiring collaboration between all Ka-Globe to uphold the highest form of corporate governance principles and best practices while working towards our vision of seeing a Philippines where families’ dreams come true, businesses flourish and the nation is admired,” she said.
Ernest Cu, Globe President and CEO, said: “This recognition is a testament to Globe’s unwavering commitment to transparency, accountability, and excellence. We are deeply honored and will continue to set the benchmark for corporate governance in the Philippines and the ASEAN region.”
The ICD’s assessment methodology relies heavily on publicly available information, including annual reports, corporate governance policies, codes of conduct, and sustainability reports, among others.
Globe’s dedication to Environmental, Social, and Governance (ESG) practices is evident in its consistent recognition. The company has been listed in the FTSE4Good Index Series for seven consecutive years and received an “A+” rating from MSCI ESG. Additionally, Globe was recognized as the “Best Corporate Governance Company – Telecom – Philippines” by the International Finance Awards (IFA) and secured positions in the “Top 3 Philippine Publicly Listed Companies”, “ASEAN Top 20”, and “ASEAN Asset Class – Philippines” at the 2022 ACGS ASEAN Awards ceremony in January 2023.
For more information on Globe’s corporate governance practices and updates, please visit the CG-dedicated page on their website: https://www.globe.com.ph/about-us/corporate-governance.html.
