Monday, August 14, 2023

PLDT advances transparency on ESG metrics in its 2023 S&P Global CSA participation

MANILA, PHILIPPINES, August 2023 - Demonstrating its commitment to aligning business with sustainability strategies, PLDT Inc. (PLDT) (PSE: TEL) (NYSE: PHI) participated anew in the S&P Global Corporate Sustainability Assessment (CSA). The integrated telco’s completion of its 2023 Sustainability Report underscores strategic efforts to evaluate and boost environmental, social, and governance (ESG) performance.

The S&P Global CSA is an annual evaluation of ESG practices covering over 10,000 companies worldwide, with criteria that are both industry-specific and financially material. Results provide significant guidance for companies to benchmark and align with metrics of the Dow Jones Sustainability Indices (DJSI).

PLDT reported on key ESG metrics aligned with its four pillars: Connection, Concern, Conservation, and Commitment. “Sustainability is one of our strategic pillars and key drivers of performance. It is hence imperative for us to constantly measure ourselves against established standards and ensure that we align with global best practices,” said Alfredo S. Panlilio, President and CEO of PLDT and its wireless subsidiary, Smart Communications, Inc. (Smart).

In the 2022 S&P Global CSA ratings report, PLDT attained an overall score of 59 – the highest among Philippine telcos and a significant gain from the prior years’ scores of 51 and 47. This measures company performance in terms of governance, social, and environmental indicators, providing relevant sustainability-oriented insights and benchmarks among shareholders and investors.

"The goal is to continuously improve our performance and transparency measures, particularly as we work on tightly aligning our business and sustainability objectives. These are all key to achieving our ambition for regional leadership in ESG,” said Melissa Vergel de Dios, PLDT's First Vice President, Chief Sustainability Officer, and Head of Investor Relations.

Reinforcing sustainability and brand value

PLDT’s participation in the 2023 S&P Global CSA follows the company’s top rankings in a recently released study from Brand Finance, the world’s leading independent brand valuation and strategy consultancy firm.

PLDT posted the highest Sustainability Perceptions Value (SPV) among all brands listed in Brand Finance rankings at US$222 million. Among the initiatives cited as having contributed to PLDT’s high SPV is its decarbonization roadmap, underpinned by its deployment of renewable energy solar panels in key company facilities, and expansion of digital infrastructure to democratize access to communications.

The same Brand Finance report also named PLDT as the Most Valuable Filipino Brand in the Philippines, with a 2% annual increase in brand value to US$2.6 billion. Besting other telecommunications, banking, and food service brands, PLDT was cited for its consistent focus on innovation as a driver to improve customer service and propel the nation toward becoming a financial and technology hub.

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