PCIC CORPORATE GOVERNANCE SCORECARD CY 2022
QUESTION
LINK
Yes
1. Part 7, Sec. 4 of the PCIC Manual on Corporate Governance
2. Part 7.1, Sec. 2 of the PCIC Manual on Corporate Governance
3. Part 7.1, Sec. 1 of the PCIC Manual on Corporate Governance
4. Part 7, Sec 5.1.1 of the Manual Corporate Governance
Yes
1. Part 7.1 Sec. 4 of the Manual Corporate Governance
2. Part 7.1, Sec. 1 of the PCIC Manual on Corporate Governance
Yes
1. Part 7, Sec. 3.2 to 3.3 of the Manual Corporate Governance
2. Part 7.1 Sec. 5 of the Manual Corporate Governance
3. Part 7.1, Sec. 1 of the PCIC Manual on Corporate Governance
Yes
See the section on Customer Health and Safety in Corporate Social Responsibility 2022 – page 1
Yes
See the section on Community Interaction in Corporate Social Responsibility 2022 – page 4
Yes
See the section on Environmentally-friendly value chain in and Safety in Corporate Social Responsibility 2022 – page 9
Yes
See Corporate Social Responsibility 2022
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Yes
1. See Part 7.1 of the PCIC Manual Corporate Governance
2. See Part 7, Section 5.4.3 of the PCIC Manual on Corporate Governance
3. Board Resolution No. 97-062
(Amendment to PCIC Hospitalization, Medical and Dental/Optical Benefits Plan)
Yes
See 2022 Information on Employee’s Health, Safety, and Welfare; and Trainings and Development Programmes Attended
Yes
See 2022 Information on Employee’s Health, Safety, and Welfare; and Trainings and Development Programmes Attended
Yes
See 2022 Information on Employee’s Health, Safety, and Welfare; and Trainings and Development Programmes Attended
Yes
1. See PCIC Whistleblowing Policy
2. Grievance Procedure
Yes
1. See PCIC Whistleblowing Policy
2. Grievance Procedure
II. Disclosure and Transparency (35%)
7. Quality of Annual Report Does the GOCC’s Annual Report disclose the following items:
a. Corporate objectives
Yes
See Corporate Objectives
See 2022 PCIC Performance Scorecard
Yes
See 2022 Financial and Non-financial Performance Indicators
See 2022 PCIC Performance Scorecard
Strategic Measures 6,7 and 8
Yes
See 2022 Financial and Non-financial Performance Indicators
See 2022 PCIC Performance Scorecard
Strategic Measures 4, 10, 13 and 14.
Yes
See PCIC Whistleblowing Policy
Yes
See 2022 Board Biographical Details
Yes
See 2022 Board Biographical Details
9. Corporate Governance Confirmation Statement
Yes
See Statement on PCIC’s Full Compliance with the Code of Corporate Governance
Yes
Annual Audit Report on PCIC for FY 2022 (Date received: July 14, 2023) (Date posted: July 31, 2023)
Not yet applicable
Yes
See Statement of Management’s Responsibility for Financial Statements (as of December 31, 2022, and 2021)
Yes
See page 4-5 of the 2022 PCIC Board Primer
Review of vision, mission, and strategy and
Monitoring of the implementation of the corporate strategy
Yes
See page 4-5 of the 2022 PCIC Board Primer
Review of vision, mission, and strategy and
Monitoring of the implementation of the corporate strategy
Not yet applicable
The GCG has yet to issue PCIC’s validated scorecard for 2022.
Yes
See In Compliance with Sec. 43 of GCG MC 2012-07 Sec. 43.4.d
Code of Ethics
Yes
See In Compliance with Sec. 43 of GCG MC 2012-07 Sec. 43.4.d
Code of Ethics
Yes
See In Compliance with Sec. 43 of GCG MC 2012-07 Sec. 43.4.d
Code of Ethics
Yes
See page 2-3 of the 2022 PCIC Board Primer
Committee Accomplishments
Yes
Attendance record of Directors in Board and Committee meetings 2022
Yes
See pages 2-3 of the 2022 PCIC Board Primer
Committee Accomplishments
Yes
See pages 3-4 of the 2022 PCIC Board Primer
Committee Accomplishments
18. If yes, is the report of the Audit Committee publicly disclosed?
Yes
See page 4 of the 2022 PCIC Board Primer
Committee Accomplishments
20. Did the Audit Committee meet at least four times during the year?
Yes
Attendance record of Directors in Board and Committee meetings 2022
Yes
See page 4 of the 2022 PCIC Board Primer
Committee Accomplishments
Yes
See page 4 of the 2022 PCIC Board Primer
Committee Accomplishments
24. Board meetings and attendance
a. Are the Board of Directors meetings scheduled at the beginning of the year(end of Q1)
Yes
See page 2 of the 2022 PCIC Board Primer
Meetings and Attendance
See page 2 of the 2022 PCIC Board Primer
Meetings and Attendance
No
No
Yes
See page 5 of the 2022 PCIC Board Primer
Meeting materials
Yes
See page 4 of the 2022 PCIC Board Primer
Corporate Secretary
Yes
See PCIC Organizational Chart
Yes
Information on Board Committees and their Activities
a. Does the company disclose the internal control procedures/risk management systems it has in place?
Yes
See Statement on Risk Management and Internal Control
b. Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company’s materials controls (including operational,financial and compliance controls) and risk management systems?
Yes
See Statement on Risk Management and Internal Control
Yes
See Statement on Risk Management and Internal Control
Yes
See Statement on Risk Management and Internal Control
Yes
From January 1 to June 30, 2022 the chairperson is Sec. Carlos Dominguez. From June 30 to December 31, 2022, the chairperson is Sec. Benjamin Diokno. For 2022, the president is Atty. Jovy Bernabe.
See page 1 of the 2022 PCIC Board Primer
Composition
29. Board of Directors Development
Yes
See pages 5-6 of the 2022 PCIC Board Primer
Continuous professional education programs for directors
Manual on Corporate Governance
Part 3.1 of PCIC’s Manual on Corporate Governance mandates the Governance Committee to encourage Directors to attend on-going or continuous professional education programs.
Attendance of the Directors to orientations, seminars, workshops, other educational programs recommended by PCIC and/or the Governance Committee serves as service to the Corporation.
Yes
See 2022 Board Biographical Details
a. Is an annual performance assessment conducted of the Board of Directors?
Yes
See page 6 of the 2022 PCIC Board Primer
Board and Committee Assessment
Yes
See page 6 of the 2022 PCIC Board Primer
Board and Committee Assessment
Yes
See page 6 of the 2022 PCIC Board Primer
Board and Committee Assessment
Yes
See page 6 of the 2022 PCIC Board Primer
Board and Committee Assessment
No
Quality of Annual Report
Yes
Annual Audit Report on PCIC for FY 2022 (Date received: July 14, 2023) (Date posted: July 31, 2023)
None
See 2022 Board Biographical Details
Not applicable