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Business

Globe’s MSCI rating improves

Iris Gonzales - The Philippine Star
Globe�s MSCI rating improves
Globe said that the company’s latest MSCI ESG rating underscores the company’s dedication to its ESG strategies and practices, setting a high standard for companies in the Philippines and beyond.
STAR / File

MANILA, Philippines — Globe Telecom’s MSCI ESG ratings improved to AA from A, marking the highest rating among companies and within the telco industry in the Philippines to date.

“This MSCI AA rating is a testament to Globe’s steadfast commitment to sustainability practices, and a historic feat for the Philippines in itself. As we put our sustainability ambitions into action and embed its principles in the way we do business, we are proud to set the benchmark for ESG practices in the industry and the country,” said Yoly Crisanto, Globe chief sustainability and corporate communications officer.

ESG stands for environmental, social and corporate governance.

The ratings were provided by MSCI ESG Research, which provides ESG ratings on global public and private companies on a scale of AAA (leader) to CCC (laggard). The ratings are based on a company’s exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.

MSCI ESG Research looks into governance structures, policies, targets, quantitative performance metrics, and any relevant controversies.

With Globe’s upgrade from BBB to A in 2020, and now to AA, it is recognized as an ESG leader, effectively managing its exposures to ESG risks, the telco said.

Globe’s sustainability initiatives include committing to science-based targets through the Science-Based Target Initiative (SBTI) in terms of cutting its greenhouse gas emissions by half by 2030 and achieving net zero emissions by 2050.

In 2022, Globe surpassed its target by reducing 4.42 percent of its carbon emissions, as a result of shifting toward renewable energy, investing in energy-efficient technologies, and deploying green solutions across its network.

Globe also emphasizes the importance of data privacy and information security training for all its employees.

Meanwhile, Globe welcomed four new directors in its board of directors last April, including two female directors. Its board is now composed of four independent directors and two female member directors.

The company also continues to adopt ESG-linked policies, ensuring that high sustainability and exemplary corporate governance standards are upheld.

Globe said that the company’s latest MSCI ESG rating underscores the company’s dedication to its ESG strategies and practices, setting a high standard for companies in the Philippines and beyond.

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