PLDT gets ESG rating upgrade from MSCI
Telecommunications giant PLDT secured a rating upgrade in the MSCI environment, social and governance (ESG) index, seen to make it more enticing to discerning investors.
The group backed by billionaire Manuel V. Pangilinan said on 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.”
“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 toward 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.
PLDT has implemented a comprehensive policy for data protection, strong measures to address data breaches and stringent access controls to safeguard personal data. It has also set its eyes on significantly reducing carbon emissions from its operations by 2030.
