The Company adopted a Whistle-blowing Policy as an internal control mechanism, consistent with the purpose of maintaining internal corporate justice. The Whistle-blowing Policy provides an internal and confidential reporting channel to report any serious concerns about any suspected misconduct, malpractice or irregularity in the Company. This policy applies to all Corporation personnel, including members of the Board of Directors, officers, employees (permanent or temporary), as well as concerned advisors/consultants, third-party business partners, suppliers, service providers and other stakeholders of the Corporation as well as its subsidiaries and affiliates as it pertains to the activities of the Corporation and its representatives.
Conflict of Interest Policy
The Company’s Conflict of Interest Policy (“COI Policy”) is designed to ensure that the principles of integrity, transparency, accountability and fairness are upheld in all transactions and official actions of the Company. The COI Policy also requires the Company’s directors, officers, employees and consultants to ensure that all work-related decisions, business decisions, actions or inactions are above-board and based on sound business judgment and devoid of bias or impartiality.
Related Party Transaction Policy
In compliance with the SEC’s Memorandum Circular No. 10, Series of 2019, the Company’s Audit Committee, acting through the authority granted by the Company’s Board of Directors in its regular meeting held on August 1, 2019, approved the Company’s revised RPT Policy on October 18, 2019. The revised RPT Policy includes a policy on material related policy transactions in accordance with the Rules on Material Related Party Transactions set forth by the Commission.
Insider Trading Policy
The Insider Trading Policy regulates the dealing or trading of the Company’s shares while in possession of material, non-public information. The Company’s Compliance Officer regularly sends out Blackout Notices to the whole organization prohibiting any director, officer, employee or insider of the Company from transacting MPIC shares during an identified Blackout Period. The Insider Trading Policy also requires directors and covered officers of the Company to properly disclose their dealings of shares of stock of the Company in accordance with the rules of the PSE and SEC.
Board Diversity Policy
Consistent with MPIC’s commitment to the principles of good corporate governance, the Board Diversity Policy was approved to ensure that the Board has suitable mix of expertise, experience and skills that would promote critical thinking and balanced decision-making that is in line with the Company’s strategic goals and objectives. The Policy emphasizes that the primary consideration in the nomination and selection of directors shall always be merit, and that nominees shall not be discriminated against by reason of gender, religion, ethnicity, age and other factors.
The Board Diversity Policy was approved by the Board on November 7, 2018.
MPIC Guidelines on Search, Screening and Selection of Directors
The Company adopted the Guidelines on the Search, Screening and Selection of Directors to help attain an effective and efficient search, screening and selection of candidates for election as members of the MPIC Board of Directors. The Guidelines set forth the procedures and safeguards in the director selection process which include, among others, the utilization of executive search firm (if necessary) to develop a list of nominees to the Board, ensuring thereby that: (i) the composition of the Board is an effective and balanced mix of knowledge, expertise, experience, complementary skills and talents that are mutually enforcing and promote diversity in terms of gender and ethnicity, among others; and (ii) the selection of directors and independent directors is aligned and consistent with the Company’s Mission, Vision and strategic directions and the Board’s duties and responsibilities.
MPIC Succession Planning Policy
The policy lays down the guidelines that management shall consider in identifying and preparing candidates in management to assume bigger responsibilities in case of vacancies in senior management positions due to retirement, resignation, incapacity or other reasons.
The Company’s Succession Planning Policy was approved by the Board on November 7, 2018.
MPIC Policy on Gifts, Entertainments and Sponsored Travel
This policy provides the general guidelines for directors, employees and consultants on how to handle Gift, Entertainment and Sponsored Travel offered by parties dealing with the Company to ensure that the custom of giving gifts and entertainment is not used by third parties to gain undue advantage or influence the objectivity of the Company’s directors, employees and consultants in the performance of their duties.
MPIC Supplier Code of Conduct
This policy lays down the principles that the Company shall adhere to in its dealings with suppliers. The MPIC Supplier Code of Conduct was approved by the Board on November 7, 2018.
MPIC Policy on the Respect for and Protection of the Rights of People
This policy lays down the general framework by which the Company shall do business in a manner that respects and promotes human dignity. The MPIC Policy on the Respect for and Protection of the Rights of People was approved by the Board on November 7, 2018.
Environment and Social Impact Assessment Policy
Environmental, social and governance factors are key considerations in MPIC’s investment decision making process and in guiding existing portfolio of companies.
This ESIA Policy seeks to formalize ESIA as a mandatory item in MPIC’s M&A due diligence.
Anti-Bribery and Anti-Corruption Policy
This policy embodies the Company’s zero-tolerance approach to bribery and corruption. It defines and provides examples of these prohibited acts and establishes disciplinary consequences for violations of its employees.
Workplace Gender, Equality and Diversity Policy
This policy is designed to promote a diverse workforce and ensure that the Company’s employees are not discriminated against on the basis of their gender, sexual orientation, age, marital status, pregnancy, political beliefs, ethnicity, religious beliefs, disability or other distinguishing characteristics that are not relevant to their ability to work.
Environmental, Health and Safety Policy
This policy aims to enjoin the organization to adopt the highest standard on its Environmental, Health and Safety performance in accordance to the ESG principles.
This policy aims that all directors and employees of MPIC group have declared their commitment to complying with all laws and regulations, social standards, and internal company rules, whether in the Philippines or overseas, and acting in accordance with the highest ethical standards in both private and public activities.
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© 2019 Metro Pacific Investments Corporation