SASB Alliance cites PLDT’s ESG practices
I am pleased to see PLDT becoming increasingly involved with ESG specifically. To demonstrate our serious intent, we align our efforts with global affiliations, such as the SASB Alliance
PLDT Inc. (PLDT), the country’s largest integrated telecommunications company, was lauded as a regional leader in environmental, social and governance (ESG) reporting practices by the Sustainability Accounting Standards Board ( SASB) Alliance. PLDT is the first telco in the world and only company in the Philippines to be a member of the international membership program, which supports the need for more decision-useful sustainability disclosures that meet the expectations of investors.
The SASB Alliance supports members, such as PLDT, which aim to identify ESG disclosure best practices, build capacity among their staff and explore the use of financially material sustainability information.
“I am pleased to see PLDT becoming increasingly involved with ESG specifically. To demonstrate our serious intent, we align our efforts with global affiliations, such as the SASB Alliance,” PLDT chairman and CEO Manuel V. Pangilinan said.
PLDT was recently part of SASB Alliance’s Corporate-Investor Dialogue alongside NRG, a leading integrated power company in the United States.
The invitation-only activity highlighted the quality and implementation of SASB reporting standards.
Industry leadership
“Overall, we commend PLDT for a great first SASB report and for being an industry and regional leader,” dialogue participants said.
Since 2015, PLDT has been reporting ESG practices, way before the Securities and Exchange Commission requirement that all Philippine-listed companies publish its Sustainability Reports for yearend 2019 in 2020.
SASB Alliance members cited the substance and comprehensiveness of PLDT’s ESG reporting.
“It is rare to see this level of transparency in these markets, and novel to have the richness of the data. It shows a self-confidence of the company to share, track, and capture all this data, and gives a strong perception that the company is run well and has reporting embedded in the culture,” an investor said. SASB Alliance members also praised PLDT’s human capital reporting, specifically in the details concerning diversity and gender.
A participant also noted that PLDT’s distinction between subsidiaries was unique and beneficial, noting that “a lot of companies selectively disclose and don’t cover all subsidiaries. Where possible, PLDT was clear about subsidiaries.”
PLDT is comprised of business units such as PLDT Home for home broadband and fixed wireless, PLDT Enterprise for corporate clients, PLDT Global for overseas Filipinos, and Smart for wireless services.