ICD Strengthens Good Governance at 25th Anniversary Global Summit

GOOD governance is not just a buzzword; it is essential for any organization that has a vision for a better future and the ambition to change. Good governance creates cooperation between different institutions in society, ensuring that each person is served in the best possible way.

This was the advocacy of the Institute of Corporate Directors Philippines or ICD PH. Celebrating 25 years of spearheading corporate governance excellence, the association will hold a global summit that will feature distinct themes and important discussions.

The Global Governance Summit will address a wide range of topics, including the future of corporate boards, advancing equality, the changing role of businesses, reducing poverty, the importance of shared prosperity, business survival, and the power of doing good. COLLABORATIVE IMAGE

“We wanted to do something out of the box. We want the Philippines to be known. We feel a strong need to make the country known, to make the current administration known,” says ICD Vice Chair Imelda “Ida” Tiongson.

She added that the summit hopes to have a domino effect of positive market sentiment towards the country, boosting investment and teaching corporations how to better manage risk.

ICD President Pedro Maniego Jr. said the summit is also an opportunity to showcase the Philippines’ growing position in global competition and the fact that the Philippines is an emerging economy.

Maniego says: “The Philippines has made significant progress since its inception. However, our country still lags behind our (Southeast Asian) neighbors in the Corporate Governance Scorecard. We cannot and should not remain in ‘business as usual’ mode if we are to catch up and ultimately surpass our peers. We need to do much more. While these are particularly challenging times for the world, the Philippines is doing well and has consistently recorded significant rates of economic growth. However, it still lags far behind our (Southeast Asian) neighbors in terms of (foreign direct investment), largely because of a poor perception of its global competitiveness.

The Institute of Corporate Directors (ICD) holds a press conference on the purpose and vision of its Global Governance Summit. Pictured (from left) Maria Celeste “Maricelle” Narciso, member of the ICD Board of Trustees and Altenergy Holdings Corp. Board Advisor Ma. Victoria “Marivic” Españo, member of the ICD Board of Trustees and Yuanta Savings Bank Philippines Inc. Independent Director Senen “Bing” Matoto and ICD Vice Chair Imelda “Ida” Tiongson. CONTRIBUTING PHOTO

“Good governance creates a stable and transparent environment that is needed to attract investment that drives economic growth. It strengthens a country’s global reputation, building trust and confidence among international partners and citizens. Let’s learn how we can do this together. See you at the Summit,” he added.

Under the theme “Global Governance Summit: Leading the future, stronger uniting,” the summit will delve into the intricacies of integrating good governance into business and public service. The summit will be held at the Manila Ballroom, Marriott Hotel Manila, Pasay City on September 19, 2024.

The summit will feature outstanding speakers, both domestic and foreign.

They include Securities and Exchange Commission Chairman and Chief Executive Emilio Aquino on Strengthening Global Prosperity: the Organization for Economic Co-operation and Development’s Sustainable Development Principles; Chief Justice of the Philippines Alexander Gesmundo on the importance of governance in government; Professor Gaizka Ormazabal of IESE and the University of Navarra on revealing anti-poverty strategies; ICD Chairman Emeritus and Founder Jesus Estanislao on why ICD was founded 25 years ago and why governance advocacy is even more important today; EY-Parthenon Director and Geopolitical Advisor Kyle Lawless on changing geopolitics and the role of the board; Shai Ganu, Member of the Board of Trustees and Fellow of the Singapore Institute of Directors, on governance as a guiding principle in the board and the employee agenda; and Kirsten Patterson, Chair of the Global Network of Director Institutes, on the board chair of the future: board priorities for the Asia-Pacific region; former ICD Chairman Rex Drilon II on Shared Prosperity and Shared Responsibility: The Power of “We” versus the Evil of Inequality and Exclusion; and Department of Budget and Management Secretary Amenah Pangandaman on Issues Beyond the Budget: The Importance of Transparency and Building Trust in Government.

The summit will cover the following topics: the future of corporate boards, promoting equality, the changing role of businesses, reducing poverty, the importance of shared prosperity, business survival and the power of good.

The Institute of Corporate Directors is holding a press conference to discuss the purpose and vision of its Global Governance Summit. Pictured (from left) are ICD Chairman Emeritus and Founder Jesus 'Jess' Estanislao, ICD Chairman Pedro 'Pete' Maniego, ICD Board of Trustees member and Independent Director of SM Investment Corp. Tomasa 'Tammy' Lipana and Global Governance Summit Organizing Committee Member Catherine 'Catz' Jalandoni. CONTRIBUTING PHOTO

On the same evening, the Golden Arrow awards ceremony will be held to honor listed companies that have achieved high results in the corporate governance ranking.

The summit is open to anyone interested in incorporating good governance into their practices, such as industry leaders, policymakers and students.

The significance of the summit stems from ICD’s belief that good governance is not just about enabling corporations, but also about sustainability and doing things right.

“Whether you work in a government agency or in the corporate world, it’s about doing things right. That’s why it’s so exciting that we have this global summit on good governance,” says Maricelle Narciso, ICD board member.

The summit, broadly speaking, aims to address three endemic Philippine issues—poverty, corruption, and lack of civic engagement. It will feature sessions on why governance matters and how it can improve the Philippine economy by building global trust and strengthening perceptions. Interested participants can register at www.icd.ph.

ICD PH has been at the forefront of promoting good governance practices in the Philippines. Over the past 25 years, ICD has played a key role in raising standards of corporate governance, ensuring transparency, accountability and ethical conduct in organizations.

Through a variety of programmes, training and advocacy activities, ICD has played a key role in shaping the country’s system of governance.

With over 500 professional directors from listed companies, insurance companies, and state-owned or state-controlled companies, ICD has created a culture of ethical management and social responsibility.

The Summit marks a significant milestone in the history of corporate governance in the Philippines. The event celebrates the achievements and contributions of ICD PH over the past 25 years and sets the stage for the future of corporate governance in the country.

As we enter another 25 years, ICD PH remains committed to strengthening corporate governance through innovation, inclusiveness and sustainability. The organization aims to lead the adaptation to global trends in corporate governance, ensuring that Philippine corporations remain competitive both locally and globally.