TELECOM | PLDT recognized in TIME Magazine’s World’s Best Companies 2023
PLDT is the only Philippine telco on the list and is ranked highest among the six cited Philippine companies in terms of Sustainability.
The Philippines’ leading integrated telecommunications network PLDT makes it to TIME Magazine’s list of World’s Best Companies 2023. PLDT is the only Philippine telco on the list and is ranked highest among the six cited Philippine companies in terms of Sustainability.
Released by TIME Magazine and its analytics partner Statista, the inaugural list names 750 most outstanding companies from different industries around the world which were independently evaluated based on revenue growth, employee satisfaction surveys, and rigorous environmental, social, and governance (ESG) performance metrics.
“It is a great honor for PLDT to be named one of the world’s best companies, and to be the only Philippine telco on the list This recognition affirms our strategic direction and inspires us to continue doing business responsibly, elevating customer experience, achieving operational excellence and new areas of growth, and making our company the best place to work,” said Alfredo S. Panlilio, president and chief executive of PLDT and its wireless subsidiary, Smart Communications.
Panlilio has identified sustainability as one of the key pillars underpinning PLDT’s strategy. The company includes Sustainability in its CEO scorecard, as well as formulated ESG-focused key performance indicators across company units and functions.
Earlier this year, PLDT released its 2022 Sustainability Report that aligns with the Global Reporting Initiative framework. The company is also a Registered Participant to the United Nations Global Compact, signifying commitment to uphold principles of human rights, labor, environment, and anti-corruption in the conduct of its business.
PLDT also announced a decarbonization roadmap that targets a 40% reduction of Scope 1 and Scope 2 greenhouse gas emissions by 2030, coming from a 2019 baseline. The company benchmarks with CDP for climate reporting standards and is a pioneering supporter of the Task Force for Climate-related Financial Disclosures in the Philippines.
Fostering a dynamic and optimal approach to decision-making and governance, PLDT upholds a board diversity policy that encompasses its board of directors with different backgrounds.
On the revenue growth criteria, PLDT has consistently demonstrated an upward trend in revenues since 2020. In 2022, the company generated over 205 billion pesos in total revenues, equivalent to a 6% increase versus the previous year.
PLDT also embarked on an organizational transformation journey in support of its aspiration to become a company that employees love to work for. The company follows a roadmap of initiatives designed to cultivate talent and maximize the potential of its employees, build a purpose-driven culture, and promote new ways of working.
In July 2023, PLDT was named as the Philippines’ most valuable brand at US$2.6 billion based on an independent study by Brand Finance, a London-based business valuation and strategy consulting firm. In the same report, the company was also cited to have the highest Sustainability Perceptions Value among all listed brands at US$222 million.
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