CREIT Clinches First Golden Arrow For Exemplary Corporate Governance

Citicore Energy REIT Corporation (CREIT) has been awarded its first Golden Arrow by the Institute of Corporate Directors (ICD), a testament to the company’s outstanding corporate governance practices.

Golden Achievement for CREIT: Oliver Tan, President and CEO of Citicore Energy REIT Corporation (CREIT), proudly holds the company’s first Golden Arrow Award, recognizing their commitment to exemplary corporate governance. The award was presented by the Institute of Corporate Directors on September 19, 2024, at the Manila Marriott Hotel. | Photo: CREIT

The recognition was presented on September 19, 2024, at the Manila Marriott Hotel, acknowledging CREIT as one of the top-performing publicly listed companies in the Philippines.

The Golden Arrow Award is based on the 2022 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Assessment Results.

It highlights CREIT's dedication to safeguarding shareholder rights, fostering stakeholder relationships, and maintaining transparency and accountability through timely disclosures.

The award also reflects the company’s robust board oversight in guiding the organization strategically and ensuring management’s accountability to shareholders.

“We are honored to receive our first Golden Arrow, which reflects our continuous commitment to transparency in investments and empowerment of our shareholders, while operating with the highest standards of corporate governance,” said Mr. Oliver Tan, President and CEO of CREIT.

He added that sound corporate governance is crucial in meeting high shareholder standards and achieving long-term success.

CREIT’s corporate governance initiatives are supported by its Green Financing Framework, recognized by global think-tank Sustainalytics for its impact and alignment with sustainability financing principles.

This framework paved the way for a PRSAa+ rating from the Philippine Rating Services Corporation for its maiden ASEAN Green Bond listing in February 2023.

In addition to the Golden Arrow, CREIT has received numerous accolades, including the 2024 Finance Asia Awards for Best Managed Company, Best Small-Cap Company, Most Committed to ESG, and Most Committed to Diversity, Equity, and Inclusion.

These honors underscore CREIT’s leadership in sustainable investments and its dedication to environmental and social governance standards.

As the Philippines' first renewable energy real estate investment trust, CREIT continues to lead the renewable energy revolution with its expansive portfolio of green assets, demonstrating its commitment to powering a First-World Philippines with pure renewable energy.