Globe Telecom, one of two telco giants in the country, claimed it has become the first local telco to pilot-test a reporting framework that simplifies disclosures and complies with universal standards.
In a statement, Globe said it was the first Global System for Mobile Communications (GSMA) member in the Philippines to use the Environmental, Social, and Governance (ESG) Metrics for Mobile.
The GSMA developed the metrics in collaboration with partners and a working group of 20 mobile operators representing 45 percent of the world's mobile connections.
"This reporting framework, the first of its kind in the mobile sector, fosters sustainability and responsible business practices,” said Globe Group Chief Sustainability and Corporate Communications Officer Yoly Crisanto.
The local telco supported the GSMA in adopting the framework to monitor and compare ESG performance across the industry.
"We are among the first members of GSMA who pilot-tested the new ESG Metrics for Mobile in our 2022 Globe Integrated Report," she explained.
“By using common industry Key Performance Indicators (KPIs) that address critical aspects of our operations, we aim to increase consistency and transparency while contributing to the overall betterment of the mobile industry,” Crisanto added. The GSMA ESG Metrics for Mobile encompasses 10 industry KPIs enabling operators to measure and enhance their ESG performance across four vital areas: Environment, Digital Inclusion, Digital Integrity and Supply Chain. The metrics align with international ESG reporting frameworks and standards.
“ESG performance is a key consideration for investors, customers and employees," explained GSMA Chief Regulatory Officer John Giusti.
With the GSMA ESG Metrics for Mobile Framework, the mobile sector aims to be at the forefront of meaningful ESG reporting.
"We’re therefore delighted with Globe’s leadership in joining other leading operators in this field, driving positive change by embedding these new metrics at the heart of their ESG strategy,” he noted. Globe’s 2022 Integrated Report using the GSMA ESG Metrics for Mobile highlighted aspects, such as the population covered by the mobile network, subscription affordability, digital skills programs, and measures taken to improve online safety.
Globe annually publishes its Integrated Report, guided by the principles of the International Integrated Reporting Council Framework.
Its latest Integrated Report identifies significant sustainability-linked issues affecting its stakeholders and its operations.
It addresses the telco's value creation process, presenting both financial and non-financial disclosures which third-party assurance providers have reviewed for accuracy. By pioneering the use of this reporting framework, Globe becomes a "trailblazer in sustainable business practices", Crisanto maintained.