CORPORATE GOVERNANCE SCORECARD FOR GOCCS

  Question Yes No Link Source
I. Stakeholder Relationships (15%)
1. Does the GOCC disclose a policy that:  
  a. Stipulates the existence and scope of its effort to address customer's welfare?   See Citizen's Charter (Complaint Resolution), pages 7-8
See Manual of Corporate Governance, pages 22-23
  b. Elaborates its efforts to interact with the communities in which they operate?   See Annual Report 2015, page 4
See Manual of Corporate Governance, Chapter VII "CSR and Relations with Stakeholders"
  c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?   See Manual of Corporate Governance, page 24
See Enviromental Policy

2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?  
 

a. Customer health and safety

  See Annual Report 2015, page 4
See CSR Annual Accomplishment Report 2015
See PMDC Webpage -> Current News
 

b. Interaction with the communities

  See CSR Annual Accomplishment Report 2015
See Manual of Corporate Governance, pages 22-23
 

c. Environmentally-friendly value chain

  See Agro-Forestry and Reforestation Project

3. Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?   See CSR Annual Accomplishment Report 2015

4. Where stakeholder Interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.  
  Does the GOCC provide contact details via the company's website or Annual Report which stakeholders (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?   See Contact Us

5. Performance-enhancing mechanisms for employee participation should be permitted to develop.  
  a. Does the GOCC explicitly mention the health, safety and welfare policy for its employees?   See Health, Safety and Welfare Data
  b. Does the GOCC publish data relating to health, safety and welfare of its employees?   See Health, Safety and Welfare Data  
  c. Does the GOCC have training and development programmed for its employees?   See 2015 PMDC Training Plan
and
2016 PMDC Training Plan
  d. Does the GOCC publish data on training and development programs for its employees?   See 2015 PMDC Training Plan
and
2016 PMDC Training Plan

6. Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.  
 

a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?

  See Citizen's Charter and Whistle blowing Policy p.2
 

b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?

  See Whistle blowing Policy p.3
     
II. Disclosure and Transparency (35%)
7. Quality of Annual Report
Does the GOCCs annual report disclose the following items:
 
  a. Corporate objectives   See Annual Report, p.13 and
Annual Audit Report for CY 2015
  b. Financial performance indicators   See Annual Report, p.11-15 and
Annual Audit Report for CY 2015
  c. Non-financial performance indicators   See Annual Report, p.4, 9 &16 and
Annual Audit Report for CY 2015
  d. Details of whistle-blowing policy   See Annual Report, p.16 and
Whistle Blowing Policy
  e. Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners   See Annual Report, p.17-19
 
  f. Training and/or continuing education program attended by each director/commissioner   See Board of Directors Training

8. Are the Annual Reports downloadable from the GOCC's website?    

9. Corporate Governance Confirmation Statement      
  Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?
  See Omnibus Certification

10. Timely filing/release of annual/financial reports  
  a. Are the audited annual financial report/statement released within 60 days upon receipt from COA?   See Annual Audit Report for CY 2015
  b. Is the annual report released within 90 days from release of audited financial report?    
  c. Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?
  See Statement of Management Responsibility
     
III. Responsibilities of the Board (50%)
11. Corporate Vision/Mission  
  a. Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?   See Board Resolution-24-15 and Board Resolution-08-14
  b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?   See Board Resolution-24-15 and Board Resolution-08-14

12. Did the GOCC achieve 90% in the PES?   See Omnibus Certification

13. Code of ethics or conduct  
 

a. Are the details of the code of ethics or conduct disclosed?

  See Code of Business Conduct & Ethics
 

b. Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?

  See Code of Business Conduct & Ethics, p. 4
  c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?   See Manual of Corporate Governance

14. Does the Board appoint a Nomination and Compensation / Renumeration Committee?
  See Board Resolution-09-14

15. Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?
  See Attendance Board Committee Meetings

16. If yes, is the report of the Nomination and
Compensation/Renumeration Committee publicly disclosed?
   

17. Does Board appoint an Audit Committee?
  See Board Resolution-09-14

18. If yes, is the report of the Audit Committee publicly disclosed?    

19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?   See Annual Report, p.18

20. Did the Audit Committee meet at least four times during the year?    

21. Does the Board appoint a Risk Management Committee?
  See Board Resolution-09-14

22. If yes, is the report on Risk Management Committee publicly disclosed?
 

23. Does at least one member of the Risk Management Committee have a background In finance and investments?   See Board Resolution-09-14

24. Board meetings and attendance  
  a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)    
  b. Does the Board of Directors meet at least monthly?    
  c. Did the Board of Directors meet on at least 75% on their scheduled meetings?   See Attendance Record of Directors in Board Meetings
  d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?   See Attendance Record of Directors in Board Meetings  
  e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?    

25. Access to Information  
  a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?   Board Materials are provided to the Board three (3) working days before the meeting
  b. Is the Board Secretary trained in legal, accountancy or company secretarial practices?   See Corporate Officers

26. Internal Audit  
 

a. Does the company have a separate internal audit function?

 
 

b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?

  See Manual of Corporate Governance, p. 12

27. Risk Oversight  
 

a. Does the company disclose the internal control procedures/risk management systems it has in place?

   
 

b. Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (Including operational, financial and compliance controls) and risk management systems?

   
 

c. Does the company disclose how key risks are managed?

   
 

d. Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems?

   

28. Board Chairman  
  Do different persons assume the roles of Chairman and CEO?   See General Information Sheet 2015, p. 3

29. Board of Directors Development  
  a. Does the GOCC have orientation programs for new Directors?    
  b. Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs?    
  c. Did all Appointive Directors attend at least 1 training for the calendar year?   See Attendance Record of Directors to Board Meetings

30. Board Appraisal  
  a. Is an annual performance assessment conducted of the Board of Directors?    
  b. Does the GOCC disclose the process followed in conducting the Board assessment?    
  c. Does the GOCC disclose the criteria used in the Board assessment?    

31. Committee Appraisal  
  Is an annual performance assessment conducted of the Board of Directors Committees?    
     
BONUS
Stakeholder Relationships
1. Does the GOCC practice Global Reporting Index (GRI) on its annual reports?    
Disclosure and Transparency
2. Quality of Annual Report      
  Are the audited annual financial report/statement released within 30 days upon the receipt from COA?    
     
PENALTY
Responsibilities of the Board
1. Are there members of the Board of Directors who hold more than five(5) positions in GOCCs and PLCs?   None  
2. Is there non-compliance with Good Governance Conditions?   None  
         
.