PLDT gets ESG rating upgrade from MSCI

MANILA, Philippines – Telecommunications giant PLDT secured a rating upgrade in the MSCI environment, social and governance (ESG) index, a development seen to make it more enticing to discerning investors.

The group backed by billionaire Manuel V. Pangilinan said Tuesday that its rating has been upgraded to “BBB” this year from MSCI ESG Ratings assessment, a better score from the previous “BB.”

According to the MSCI ESG Rating Scale, firms rated with BBB show “moderate management measures relative to their aggregate ESG risks and opportunities, in comparison to global industry peers.”

READ: PLDT core income hits P17.6B in H1

The highest rating is “AAA” (leader), while the lowest is “CCC” (laggard).

Companies here and abroad have been providing greater focus on ESG metrics into their decisions, as investors have become more values-driven or socially conscious.

“Our improved MSCI rating is a recognition of our efforts to uphold practices that aim to continuously manage our ESG risks, support the company’s drive towards long-term profitability, and ensure that our business contributes to the well-being of our stakeholders and the planet,” PLDT first vice president and chief sustainability officer Melissa Vergel de Dios said in a statement.

“We remain focused on the work needed to further enhance our ratings and ESG performance,” the official added.

PLDT highlighted its practices, including its management of privacy and data security risks, that helped the group score higher in the ESG review.

The company said it has implemented a comprehensive policy for data protection, strong measures to address data breaches and stringent access controls to safeguard personal data.

PLDT said it has also set its eyes on significantly reducing carbon emissions from its operations by 2030.

Likewise, the firm saw an improvement in its overall governance rating and outranked the industry average in the corporate behavior category.