CORPORATE GOVERNANCE SCORECARD


Responsibilities of the Board

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  • CY 2015 CDC Board and Committees Attendance Report (Updated last 30 April 2018)
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  • The CDC Board of Directors provides corporate leadership to CDC subject to rule of law and the objectives set by the State and BCDA. Part of the specific functions of the Board is to determine CDC’s purpose and value, as well as strategies and general policies to ensure that CDC survives and thrives despite financial crises and its assets and reputation are adequately protected. The Board monitors and evaluates on a regular monthly basis the implementation of corporate strategies and policies, business plans and operating budgets, as well as Management’s over-all performance to ensure optimum results.
  • The CDC Board reviews and approves the CDC’s vision and mission which form part of the CDC’s Performance Agreement with GCG. The Performance Agreement covers CDC’s Charter Statement and Strategy Map, Performance Scorecards and Strategic Initiatives for the following year. On 04 November 2016, as part of its planning, after a thorough review and evaluation of the Performance Agreement for 2017, the CDC Board approved the same for submission to the GCG.
  • Moreover, as part of monitoring of Board of CDC’s corporate strategy, the targets set in the scorecard are being monitored on a regular quarterly basis during board meetings. For 2016, based on CDC’s 2nd quarter performance, CDC submitted its CY 2016 performance targets for renegotiation as approved by the Board on 09 September 2016 since there were factors beyond CDC’s control which affected CDC’s performance.
  • CDC strictly abides by Republic Act No. 6713, An Act Establishing A Code of Conduct and Ethical Standards for Public Officials and Employees, To Uphold the Time-Honored Principle of Public Office Being a Public Trust, Granting Incentives and Rewards for Exemplary Service, Enumerating Prohibited Acts and Transactions and Providing Penalties for Violations Thereof and For Other Purposes.

  • On November 28, 2014, the Board of Directors formally adopted and approved the CDC Manual of Good Public Corporate Governance to steer the corporate organization toward excellence and competitiveness, locally and globally, thus enabling it to be a valuable partner of the government in national development. In its commitment to highest standards principle, the Board of Directors, Management and Employees of CDC shall adhere to the highest degree of ethical standards and promote accountability and fairness in all its business transactions, with checks and balances that will ensure the corporation is protected from deviation from these standards in the course of the interaction of business considerations with political and public policy ones.

  • The Board and Management shall ensure the thorough dissemination of the Manual to all employees and third parties, and shall enjoin the development of organizational policies and processes consistent with the GOCC Code of Corporate Governance and CDC’s Manual. Funds shall be allocated for the conduct of an orientation program to operationalize the Manual and for the continued education and training of all officers and employees to ensure compliance with the GOCC Code of Corporate Governance and CDC’s Manual.
  • CDC also abides by its existing Code of Discipline. CDC Employees are committed to conducting themselves in a manner which reflects positively on Clark Development Corporation and work diligently to achieve the objectives of the Corporation, in accordance with the policies and procedures laid out in the CDC Code of Discipline. This Code is printed and distributed to all employees, to ensure the highest standards of conduct.
    1. (Attendance)

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      (Attendance)

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    1. Risks are appropriately identified and managed;
    2. Significant financial, managerial, and operating information is accurate, reliable and timely;
    3. Resources are acquired economically, used efficiently and adequately safeguarded;
    4. Programs, plans and objectives are achieved;
    5. Employees’ actions are in compliance with policies, standards, procedures, and applicable laws and regulations;
    6. Quality and continuous improved are fostered in the corporation’s control process;
    7. Significant legislative or regulatory issues with major impact in the business operations of CDC are recognized and addressed appropriately.
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Disclosure and Transparency


Location of the following information in the 2016 Annual Report

Other information available for verification:

Corporate Social Responsibility