PLDT lauded as reg’l leader in sustainability disclosures

MANILA, Philippines — Telco giant PLDT was recently 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 that 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 US. The invitation-only activity highlighted the quality and implementation of SASB reporting standards.

PLDT has been reporting ESG practices since 2015, way before the SEC requirement that all Philippine-listed companies publish their sustainability reports for year-end 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 alliance member said.

SASB Alliance members also praised PLDT’s human capital reporting, specifically in the details concerning diversity and gender.

One 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.

SASB’s investor experts also commended the company’s third-party assurance in sustainability reporting, under the Global Reporting Initiative (GRI) Standards, which “gives investor confidence in the data,” one participant said.

PLDT’s participation at SASB Alliance’s Corporate-Investor Dialogue is expected to guide the company on the useful disclosures that matter most in investors’ decision-making.  “SASB provides ‘purposeful networking’ for PLDT. It builds networks and connects many different organizations and financial stakeholders in order to create significant ESG changes in the larger system of society,” said PLDT Group’s chief sustainability officer Chaye Cabal-Revilla.