Sumary of SEC holds roundtable discussion on corporate governance:
- Practices: Addressing Issues and Concerns,” the discussion served as an avenue for the private sector to discuss and share insights on local, regional and global corporate governance practices, particularly the Asean Corporate Governance Scorecard (ACGS).
- As background, the ACGS was developed by the Asean Capital Markets Forum (ACMF), in partnership with the Asian Development Bank, to promote the Asean region as an asset class and help attract investors.
- The initiative also helps participating countries develop and promote their corporate governance brands and reputations.
- Launched in 2011, the ACGS is an assessment tool to measure the corporate governance standings and performances of PLCs in six participating Asean member countries – Indonesia, Malaysia, Singapore, Thailand and the Philippines.
- The assessment is based on publicly available information that is then benchmarked against international best practices on corporate governance.
- Since its inception, Philippine PLCs have consistently received recognition for their good corporate governance efforts.
- During the roundtable discussion, key officers from local PLCs that have been recognized by the ACMF shared their corporate governance journeys and their knowledge and insights on how they improved their corporate governance practices and ACGS scores.
- Corporate governance has never been more relevant than it is today amid the ongoing coronavirus disease 2019 (Covid-19) pandemic and the continuing threat of climate change.