ICD will be holding its ACGS and CGS Golden Arrow Recognition on September 28, 2023, Thursday at the Golden Ballroom (3rd Floor, Pearl Wing), Okada Manila Hotel. The ICD will recognize the top Philippine publicly-listed companies and insurance companies in corporate governance based on the 2022 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Assessment Results, respectively. 

 

The ACGS and CGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders. The scorecard is composed of 184 questions based on publicly available disclosures on the companies’ websites. It aims to raise the corporate governance standards and practices of the country and to make well-governed Philippine publicly listed companies & Insurance companies attractive to investors.

 

The Golden Arrow is awarded to companies that achieved a score of at least 80 points in the ACGS and CGS Assessments. At this point, the company has exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS and CGS. Five (5) levels of performance in corporate governance will be conferred. Each ascending level is depicted by an increasing number of golden arrows, as follows:

 

• ACGS & CGS score of 80 to 89 points          1-arrow recognition

• ACGS & CGS score of 90 to 99 points          2-arrow recognition

• ACGS & CGS score of 100 to 109 points      3-arrow recognition

• ACGS& CGS score of 110 to 119 points      4-arrow recognition

• ACGS& CGS score of 120 to 130 points      5-arrow recognition