MANILA – The Bases Conversion and Development Authority has been named by the Governance Commission for GOCCs (GCG) as one of the Corporate Governance Scorecard (CGS) Hall of Famers for maintaining its “outstanding” rating in its scorecard for eight consecutive years.
The BCDA, along with the Clark International Airport Corp. and the Clark Development Corp., was also listed as one of the 10 top-ranking GOCCs based on the 2022 Performance Evaluation Scorecard (PES).
In his video message at the GOCC Governance Awards Ceremony held on Nov. 20 at the Philippine International Convention Center, President Ferdinand R. Marcos Jr. congratulated the GOCCs for demonstrating excellence and urged them to “uphold accountability, transparency, and integrity in (their) endeavors so that we can serve our people best, more efficiently, and more effectively.”
The BCDA, Development Bank of the Philippines, and Government Service Insurance System were the first “in history” to receive the CGS Hall of Fame Award, for consistently being in the Top 10 of CGS ratings since 2017.
The CGS is an evaluation tool which assesses the corporate governance initiatives such as stakeholder relationships, disclosure and transparency, and responsibilities of the board of GOCCs through a methodology benchmarked against international practices.
Scoring 99% in the 2022 CGS, CDC was cited by the GCG for its “big leap from 8th place last year to 5th place this year [with] CDC’s Corporate Social Responsibility programs targeted in the development of disadvantaged sectors of our society.”
“These programs are undertaken bearing in mind CDC’s responsibility to women, obligation to physically challenged individuals and commitment to Aeta communities. It is CDC’s pledge to make sure that economic benefits trickle down to the communities and is felt by its residents,” said the GCG.
The GOCC Governance Awards Ceremony honors exceptional governance practices and contributions to the country’s economic growth.
Aside from the BCDA, CDC, and CIAC, also recognized with the highest ranking for their 2022 Performance Scorecards were: GSIS, Home Development Mutual Fund (Pag-IBIG), Land Bank of the Philippines, LBP Resources and Development Corp.,
Philippine Amusement and Gaming Corp., Power Sector Assets and Liabilities Management Corp., Social Security System, and Tourism Infrastructure and Enterprise Zone Authority.
The Performance Evaluation System (PES) of the GCG is the process of appraising the accomplishments of GOCCs in a given fiscal year based on a set of performance criteria, targets, and weights reported in a Performance Scorecard.
“GCG’s monitoring and handholding of GOCCs in their yearly performance targets ensure that the GOCCs are aligned with the policy direction of the government,” said Executive Secretary Lucas P. Bersamin during his keynote message. Punto News Team/PR
