MANILA, Philippines, Sept. 3, 2024 /PRNewswire/ -- Globe, the Philippines' leading telecommunications and digital solutions platform, has maintained its MSCI ESG Rating of "AA" for the second consecutive year, solidifying its position as an Environment, Social, and Corporate Governance (ESG) leader in the telecom industry.
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's consistent "AA" rating demonstrates its proactive approach to managing risks and its dedication to sustainable business practices.
Globe remains committed to decarbonization. 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% 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. It has implemented robust cybersecurity measures, including Risk Based Vulnerability Management (RBVM) and regular audits. Globe's significant investment in cybersecurity, totaling approximately US$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. The mobile leader offers innovative programs such as the myChoice FlexBen Program, allowing employees to customize their benefits, and the Longevity Award Program, which recognizes tenured employees with company shares. Globe's recent G-Evolution Program further proves its commitment to sustainability by incentivizing employees to adopt electric vehicles. The company was recently hailed for the fourth consecutive year for HR Asia Best Companies to Work For in Asia, The Philippines Chapter (2024).
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 (A copy of the charter is available at the Globe's Corporate Governance webpage). Moreover, Globe has implemented ESG-linked incentives for executives and employees, fostering a culture of responsibility and excellence throughout the organization.
"Our ESG rating reflects the collective effort of our entire organization in integrating sustainability principles in the way we do business. We remain dedicated to driving positive change, not only within our company but also in the communities we serve and the nation at large," said Yoly Crisanto, Globe's Chief Sustainability and Corporate Communications Officer.
"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 Marisalve Ciocson-Co, Globe's Chief Compliance Officer.
In the face of long-term ESG-linked risks, Globe 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. For more information on how Globe creates value, please refer to the 2023 Globe Integrated Report.
To learn more about Globe, visit https://www.globe.com.ph/.
THE USE BY GLOBE OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF GLOBE BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED 'AS-IS' AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.
ABOUT GLOBE
Globe Telecom, Inc. is a leading full-service telecommunications company in the Philippines and publicly listed in the PSE with the stock symbol GLO. The company serves the telecommunications and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. It offers innovative digital solutions in the areas of fintech, healthtech, adtech, climate tech, shared services and venture capital. In 2019, Globe became a signatory to the United Nations Global Compact, committing to implement universal sustainability principles. Its principals are Ayala Corporation and Singtel, acknowledged industry leaders in the country and in the region.
