PLDT Inc. (PLDT), the Philippines’ leading integrated telecommunications network, has been named to TIME Magazine’s list of the World’s Best Companies 2023. PLDT is the only Philippine telco on the list and is ranked first in Sustainability among the six cited Philippine companies.
The inaugural list, released by TIME Magazine and its analytics partner Statista, names 750 of the world’s most outstanding companies 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 CEO of PLDT and its wireless subsidiary, Smart Communications, Inc. (Smart).
Panlilio has identified sustainability as a key pillar supporting PLDT’s strategy. Sustainability is included in the CEO scorecard, as well as ESG-focused key performance indicators developed across company units and functions.
PLDT released its 2022 Sustainability Report earlier this year, which adheres to the Global Reporting Initiative framework. The company is also a Registered Participant of the United Nations Global Compact, indicating its commitment to uphold human rights, labor, environmental, and anti-corruption principles in its business operations.
PLDT also announced a decarbonization roadmap to reduce Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2030, starting with 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.
PLDT maintains a board diversity policy that includes directors from various backgrounds to foster a dynamic and optimal approach to decision-making and governance.
According to the revenue growth criteria, PLDT has consistently demonstrated an upward trend in revenues since 2020. In 2022, the company’s total revenue was over 205 billion pesos, a 6% increase over the previous year.
PLDT also embarked on an organizational transformation journey to achieve its goal of becoming a company that employees enjoy working for. The company follows a roadmap of initiatives aimed at cultivating talent and maximizing the potential of its employees, as well as building a purpose-driven culture and promoting new ways of working.
According to an independent study conducted by Brand Finance, a London-based business valuation and strategy consulting firm, PLDT was named the Philippines’ most valuable brand in July 2023, valued at US$2.6 billion. According to the same report, the company has the highest Sustainability Perceptions Value of any listed brand, at US$222 million.
