Advisory National Observances for the Month of December. Read here.

DBP CORPORATE GOVERNANCE SCORECARD* FOR 2020**

QUESTIONYESNOLINK SOURCE
I. Stakeholder Relationships
1. Does the GOCC disclose a policy that:
a. Stipulates the existence and scope of its effort to address customer’s welfare?

Section G. 1 of the 2020 DBP Annual Corporate Governance Report (Page 20)

b. Elaborates its efforts to interact with the communities in which they operate?
c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
a. Customer health and safetySection G. 1 of the 2020 DBP Annual Corporate Governance Report (Page 20 – 27)
b. Interaction with the communities
c. Environmentally-friendly value chain
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?
  1. Section G. 2 of the 2020 DBP Annual Corporate Governance Report (Page 27)
  2. Section E. On Corporate Social Responsibility, Corporate Governance Page, DBP Website
  3. Corporate Social Responsibility Programs Page, DBP Website
4. Where stakeholders interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights
a. 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?
  1. Section G.7 of the 2020 DBP Annual Corporate Governance Report (Page 33)
  2. Section F. Complaints Handling Section, Corporate Governance Page, DBP Website
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?Section G. 3 (a) of the 2020 DBP Annual Corporate Governance Report (Page 28 – 30)

 

b. Does the GOCC publish data relating to health, safety and welfare of its employees?
c. Does the GOCC have training and development programmes for its employees?Section G. 3 (b) of the 2020 DBP Annual Corporate Governance Report (Page 30 – 32)

 

d. Does the GOCC publish data on training and development programs for its employees?
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?Section G. 5 of the 2020 DBP Annual Corporate Governance Report (Page 32 – 33)
b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?
c. Does the GOCC have training and development programmes for its employees?Section G. 6 of the 2020 DBP Annual Corporate Governance Report (Page 33)
d. Does the GOCC publish data on training and development programs for its employees?
II. Disclosure and Transparency
7. Quality of the Annual Report. Does the GOCC’s AR disclose the following items:
a. Corporate Objective
b. Financial performance indicators
c. Non-financial performance indicators
d. Details of whistleblowing policy
  1. Section G. 5 of the 2020 DBP Annual Corporate Governance Report (Page 32 – 33)
  2. Section G. 6 of the 2020 DBP Annual Corporate Governance Report (Page 33)
  3. Section D.14 Whistleblower Policy, Corporate Governance Page, DBP Website
e. Biographical details (directors)
  1. Section A. 1 (e) of the 2020 DBP Annual Corporate Governance Report (Page 5)
  2. Section A. 5 of the 2020 DBP Annual Corporate Governance Report (Page 8 – 10)
  3. Section B. 4 Biographical Details of Directors, Corporate Governance Page, DBP Website
f. Trainings or continuing education (directors)Section A. 4 (b) of the 2020 DBP Annual Corporate Governance Report (Page 7)
8. Are the Annual Reports downloadable from the GOCC’s website?Section A. 5, Corporate Governance Page, DBP Website
9. Corporate Governance Confirmation Statement
a. Does the AR 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?Section H. 2 of the 2020 DBP Annual Corporate Governance Report (Page 6 – 7)
10. Timely filing/release of annual/financial reports
a. Are the audited annual financial report/statement released within 60 days upon receipt from COA?
  1. Section H. 6 of the 2020 DBP Annual Corporate Governance Report (Page 34)
  2. Section H. 7 of the 2020 DBP Annual Corporate Governance Report (Page 34)
  3. Section C.1 Audited Financial Report, Corporate Governance Page, DBP Website
b. Is the Annual Report released within 90 days from the release of the audited financial report?Section C.1 Audited Financial Report, Corporate Governance Page, DBP Website
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?
  1. Section H. 8 of the 2020 DBP Annual Corporate Governance Report (Page 34)
  2. Section D.19. Statement of the Board of Directors Affirming the Truthfulness and Fairness of the Annual Financial Statement/Reports, Corporate Governance Page, DBP Website
III. Responsibilities of the Board
11. Corporate Vision/Mission
a. Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?Section A. 1 (b) of the 2020 DBP Annual Corporate Governance Report (Page 5)
b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?Section A. 1 (c) of the 2020 DBP Annual Corporate Governance Report (Page 5)
12. Did the GOCC achieve 90% in the PES?
  1. Section A. 1 (d) of the 2020 DBP Annual Corporate Governance Report (Page 5)
  2. Section D.6, 2020 Performance Scorecard and Monitoring Report, Corporate Governance Page, DBP Website
13. Code of ethics or conduct
a. Are the details of the code of ethics or conduct disclosed?
  1. Section B. 1 of the 2020 DBP Annual Corporate Governance Report (Page 10 – 13)
  2. Section D.8. The DBP Code of Ethics, Corporate Governance Page, Website
b. Does the GOCC disclose that all Directors/Commissioners, senior management  and employees are required to comply with the code?
  1. Section B. 2 of the 2020 DBP Annual Corporate Governance Report (Page 13)
  2. Section D.8. The DBP Code of Ethics, Corporate Governance Page, Website
c. Does the company disclose how it implements  and monitors compliance with the code of ethics or conduct?
  1. Section B. 4 of the 2020 DBP Annual Corporate Governance Report (Page 13)
  2. Section D.8. The DBP Code of Ethics, Corporate Governance Page, Website
14. Does the Board appoint  a Nomination Compensation/Renumeration Committee?
  1. Section D. 2 (b) of the 2020 DBP Annual Corporate Governance Report (Page 16)
  2. Section B.7 Governance Committee, Corporate Governance Page, DBP Website
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?Section D. 2 (b) of the 2020 DBP Annual Corporate Governance Report (Page 16)
16. If yes, is the report of the Nomination Compensation/Renumeration Committee publicly disclosed?Section D. 3 of the 2020 DBP Annual Corporate Governance Report (Page 17)
17. Does the Board appoint  an Audit Committee?
  1. Section D. 2 (a) of the 2020 DBP Annual Corporate Governance Report (Page 16)
  2. Section B.7 Audit and Compliance Committee, Corporate Governance Page, DBP Website
18. If yes, is the report of the Audit Committee publicly disclosed?Section D. 3 of the 2020 DBP Annual Corporate Governance Report  (Page 17)
19. Does at least one member of the Audit Committee have an audit, accounting or finance background  (qualification  or experience)?
  1. Section D.2 (a) of the 2020 DBP Annual Corporate Governance Report (Page 16)
  2. Corporate Governance Page (on Director Luis C. Bonguyan’s profile)
20. Did the Audit Committee meet at least four times during the year?Section D. 2 (a) of the 2020 DBP Annual Corporate Governance Report (Page 16)
21. Does the Board appoint a Risk Management Committee?
  1. Section D. 2 (c) of the 2020 DBP Annual Corporate Governance Report (Page 16 – 17)
  2. Section B.7 Risk Oversight Committee, Corporate Governance Page, DBP Website
22. If yes, is the report on Risk Management  Committee publicly disclosed?Section D. 3 of the 2020 DBP Annual Corporate Governance Report (Page 17)
23. Does at least one member of the Risk Management  Committee have a background  in finance and investments?
  1. Section D.2 (a) of the 2020 DBP Annual Corporate Governance Report (Page 16)
  2. Corporate Governance Page (on Director Luis C. Bonguyan and Director Rafael Reyes’ profiles)
24. Board meetings and attendance
a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)
  1. Section C. 1 of the 2020 DBP Annual Corporate Governance Report (Page 14)
  2. Section B.6 Schedule of Board Meetings, Corporate Governance Page, DBP Website
b. Does the Board of Directors meet at least monthly?
  1. Section C. 2 of the 2020 DBP Annual Corporate Governance Report (Page 14)
  2. Section B.9 Board Meetings Held, Corporate Governance Page, DBP Website
c. Did the Board of Directors meet on at least 75% on their scheduled meetings?
  1. Section C. 3 of the 2020 DBP Annual Corporate Governance Report (Page 14)
  2. Section B.9 Board Meetings Held, Corporate Governance Page, DBP Website
d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?
  1. Section C. 4 of the 2020 DBP Annual Corporate Governance Report (Page 14 – 15)
  2. Section B.11 Attendance Record in Board and Committee Meetings, Corporate Governance Page, DBP Website
e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?Section C. 5 of the 2020 DBP Annual Corporate Governance Report (Page 15)
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?
  1. Section C. 6 (a) of the 2020 DBP Annual Corporate Governance Report (Page 15)
  2. Section B (7) Charter of the Board Committees, Corporate Governance Page, DBP Website
b. Is the Board Secretary trained in legal, accountancy or company secretarial practices?
  1. Section C. 6 (b) of the 2020 DBP Annual Corporate Governance Report (Page 15)
  2. Corporate Governance Page (on Atty. Rene A. Gaerlan’s Profile)
26. Internal Audit
a. Does the company have a separate internal audit function?Section F. 1 (a) of the 2020 DBP Annual Corporate Governance Report (Page 19)
b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?Section F. 1 (b) of the 2020 DBP Annual Corporate Governance Report (Page 19)
27. Risk Oversight
a. Does the company disclose the internal control procedures/risk management  systems it has in place?Section E. 1 (a) of the 2020 DBP Annual Corporate Governance Report (Page 18)
b. Does the Annual Report disclose that the board of Directors/Commissioners have conducted a review of the company’s material controls (including operational,  financial and compliance controls) and risk management  systems?Section E. 1 (b) of the 2020 DBP Annual Corporate Governance Report (Page 18)
c. Does the company disclose how key risks are managed?
  1. Section E. 1 (a) of the 2020 DBP Annual Corporate Governance Report (Page 18)
  2. Section C.8. Any Material Risk Factors and Measures Taken to Manage such Risks, Corporate Governance Page, DBP Website
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?Section E. 1 (c) of the 2020 DBP Annual Corporate Governance Report (Page 18 – 19)
28. Chairman of the Board/President & CEO
a. Do different persons assume the roles of Chairman and CEO?
  1. Section A. 2 of the 2020 DBP Annual Corporate Governance Report (Page 5 – 6)
  2. Section B.1 Board Composition, Corporate Governance Page, DBP Website
29. Board of Directors Development (Orientation Program and Continuous Professional Education of BODs)
a. Does the GOCC have orientation programmes  for new Directors?