In recognition of its exceptional corporate governance practices, Manuel V. Pangilinan-led Manila Electric Company (Meralco) has received a four-arrow recognition from the Institute of the Corporate Directors (ICD) at the prestigious Golden Arrow Awards held on September 19, 2024 in Pasay City.
The prestigious four-arrow award is the highest level of recognition bestowed by ICD to companies that achieved a score of at least 110 points in the ASEAN Corporate Governance Scorecard (ACGS) assessment in 2023.
Meralco’s recognition reflects the power distributor’s strict adherence to the corporate governance code, rules, and regulations promulgated and enforced by the Securities and Exchange Commission, the Philippine Stock Exchange, the Philippine Dealing and Exchange Corporation, as well as globally recommended corporate governance practices endorsed by the ACGS.
Developed by the ASEAN Capital Markets, ACGS is an evaluation tool that measures the performance of publicly listed companies in the region. This assessment measures how well companies handle stakeholder management, disclosure and transparency, board strategies, and shareholder rights.
The four-arrow award is a testament to Meralco’s steadfast commitment to upholding the highest standards of corporate governance and strong adherence to operating with integrity, fairness, and honesty to safeguard the interests of its shareholders and stakeholders
