MERALCO aims for excellence that goes beyond compliance.
The Company commits to strengthening its culture of good governance and responsible management practices, while benchmarking with the international community and global companies. MERALCO believes that the reward of good governance is not just recognition but the continuous improvement on Company operations, breakthrough performance and sustainable growth that will serve the best interest of all our stakeholders.
Corporate Governance (CG) is an integral component in the Company's management framework as Meralco pursues its business aspirations for all its stakeholders. Meralco's corporate governance framework is anchored on the principles of fairness, accountability, integrity and transparency. In 2010, the Company made corporate governance a major thrust and institutionalized the "Be Right" communication policy in the Meralco culture.
As a public utility, Meralco is subject to regulation, legislation and public scrutiny. All directors, officers and employees of the Company and its subsidiaries are therefore committed to observe all Company policies and relevant regulations and laws. The Company adheres to these imperatives, both in substance and form, as its commitment to stakeholders: shareholders, customers, government, employees, business partners, suppliers, creditors, contractors and the community.
A Corporate Governance Office (CGO) was created on March 16, 2010 to manifest Meralco's dedication to pursue excellence in corporate governance. Its mandate is to support the Board of Directors and Management in the formulation and implementation of CG plans, programs and initiatives, and in monitoring compliance to achieve the highest standards of competence and ethical culture among directors, officers and employees of the Company.