FIVE publicly listed companies (PLCs) from the Lopez Group were recognized by the Institute of Corporate Directors for strong corporate governance on Oct. 23 at the Golden Arrow Awards held in Pasay City. 
ABS-CBN Corporation, First Gen Corporation and Lopez Holdings Corporation each received three Golden Arrows; First Philippine Holdings Corporation (FPH) received two Golden Arrows; and Rockwell Land Corporation received one Golden Arrow.
PLCs underwent independent assessment based on the revised ASEAN Corporate Governance Scorecard (ACGS).
The revised ACGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, sustainability and resilience, disclosure and transparency, and board responsibility.
The revised scorecard is composed of 193 questions, including bonus and penalty items, offering nsights into disclosure practices, the roles and rights of shareholders, stakeholders, and the responsibilities of the board.
These revisions were guided by the recent additions to the OECD Principles of Corporate Governance to reflect the developments in capital markets and corporate governance policies and practices on the sustainability and resilience of companies.
The inclusion of sustainability and resilience in the revised ACGS allowed ABS-CBN, First Gen, FPH and Rockwell Land to improve their performance compared to the previous year. (CPS)
