Al Panlilio-led PLDT is reaping the benefits of going green as the telco giant has been included in the ATR Asset Management (ATRAM) Philippine Sustainable Development and Growth Fund (PSDGF).
In a disclosure to the Philippine Stock Exchange, PLDT said it was added to the PSDGF with a weight of percent, making it the only telco in the fund’s top three holdings.
Established in February 2021, the fund aims to achieve capital growth by investing locally in equities of companies whose products and services are considered by the investment manager as contributing to the positive environmental or social change.
“We are very pleased with our inclusion in ATRAM’s sustainability-based equity investment portfolio as it recognizes the PLDT Group’s long-term commitment to sustainable business practices,” PLDT first vice president and chief sustainability officer Melissa Vergel de Dios said.
As part of its annual portfolio review, ATRAM handpicks 20 firms listed at the local bourse which are seen to contribute to positive environmental, economic, and social change.
The fund manager measures specific outcomes or performance of companies based on the United Nation Sustainable Development Goals (SDGs) grouped into wellness, progress, and fairness.
ATRAM’s PSDGF grew 21 percent in last year, outpacing the bellwether PSE Index by more than 18 percent, indicating that the market has shown an appetite for companies that have integrated sustainability into their business.
“While much still needs to be done, this affirms that our efforts and plans to address environmental, social and governance issues are directed towards areas that matter,” De Dios said.
“Even as we ramp up initiatives to ensure the best customer experience and pursue improvement in our profitability, we are doing so without forgetting our responsibility as a steward of the planet for the next generation,” she added.
Globe Telecom Inc. is forking out P4.1 billion for technology modernization as part of efforts to better serve its millions of customers and further improve its billing system infrastructure.