PLDT Inc. said Tuesday it received an upgrade to a “BBB” rating from “BB” in the latest MSCI ESG Ratings assessment.
MSCI ESG Research scores public and private companies on a scale from “AAA” (leader) to “CCC” (laggard), based on their exposure to and management of environmental, social, and governance (ESG) risks.
The upgrade reflects PLDT’s ongoing efforts to integrate sustainability into its business operations and improve its ESG risk management practices.
Among the company’s leading practices, according to the report, is its management of data privacy and security risks. This includes a comprehensive data protection policy, robust measures for data breach management, and stringent access controls. The company’s Data Privacy and Information Security Committee, a board-level body, oversees these efforts.
PLDT also ranked above the industry average in its management of carbon emissions. The company has a decarbonization roadmap that targets a 40% reduction of its Scope 1 and Scope 2 greenhouse gas emissions by 2030, from a 2019 baseline.
PLDT’s overall governance rating also improved, with the company outranking the industry average in the corporate behavior category.
“Our improved MSCI rating is a recognition of our efforts to continuously manage our ESG risks, support the company’s drive towards long-term profitability, and ensure that our business contributes to the wellbeing of our stakeholders and the planet,” said Melissa Vergel de Dios, PLDT first vice president and chief sustainability officer.
PLDT said it continues to integrate sustainability and risk management into employee performance and executive compensation metrics to align institutional action with its ESG goals.
