The awards ceremony, held in Kuala Lumpur, recognized Converge for its continued commitment to high corporate governance standards, transparency, and accountability—standards which have only grown more rigorous since the last ASEAN Corporate Governance Scorecard (ACGS) revision in 2023.
Corporate housekeeping: A culture, not just a checklist
“This recognition as a top-performing publicly listed company in corporate governance is a remarkable achievement for us, considering we’ve only gone public in 2020,” said Jose “Ping” de Jesus, chair of the Converge board of directors. “For us, corporate housekeeping is not just about compliance—it’s fundamental to how we operate ethically.”
The ACGS, which underpins the awards, is conducted by the Minority Shareholders Watch Group (MSWG) in collaboration with the ASEAN Capital Markets Forum (ACMF) and the Asian Development Bank (ADB).
The process includes a comprehensive evaluation using publicly available information such as annual reports, disclosures, and governance policies. Each country’s ranking body conducts a domestic assessment, followed by two rounds of regional peer reviews to ensure objectivity and consistency.
Despite stricter metrics, expectations exceeded
Converge emerged as one of only five Philippine companies in the Top 50 list across Southeast Asia—and the only non-conglomerate among the Philippine top performers.
“This achievement reflects our strong commitment to integrity and accountability,” said Atty. Laurice Esteban-Tuason, corporate sustainability officer and corporate compliance and data protection officer at Converge.
“Amid stricter metrics under the updated ACGS, we’ve exceeded expectations. This recognition is the result of collaboration across our organization—it’s the work of many hands.”
The company’s performance aligns with its long-standing efforts to embed good governance into its operations. Converge reported zero customer data breaches and zero confirmed corruption incidents for 2024, underscoring its strong compliance and privacy safeguards.
To reinforce governance at the leadership level, Converge runs a continuing education program for its board of directors, focusing on key areas such as technology governance, cybersecurity, and evolving socio-economic trends. All directors have completed mandatory corporate governance training in accordance with regulatory requirements.
Sustainability agenda as part of core strategy
“The government, investors, shareholders, and even competitors can attest to the leaps we’ve made in corporate governance,” said Grace Y. Uy, Converge president and co-founder. “This is by design. Even as a relatively young company, we’ve made it clear that revenue growth alone is not the goal—we’ve built our sustainability agenda into our core strategy.”
Converge’s Board Risk Oversight Committee spearheads its overall Sustainability Agenda, focusing on the company’s environmental, social, and governance (ESG) responsibilities.
Under their guidance, the firm institutionalized a Sustainability Policy, joined the UN Global Compact, and rapidly aligned with international sustainability reporting standards.
In 2024 alone, the company garnered several accolades reflecting its strengthened governance performance:
Three Golden Arrow Award from the Institute of Corporate Directors, the Philippines’ domestic ranking body for ACGS
A ‘low-risk’ rating from ESG analytics firm Sustainalytics
An ‘AA’ ESG rating from MSCI, recognizing Converge as a leader in risk management within its industry
Integrity strengthened from within
Internally, Converge has also enhanced its Whistleblowing Policy, formally integrating human rights as a guiding principle and offering an accessible online platform for employees to report misconduct confidentially and without fear of retaliation.
“These efforts strengthen not just our compliance, but the culture of integrity throughout the company,” Esteban-Tuason said.
In his keynote remarks at the awards, Atty. Francis Ed. Lim, chair of the Philippine Securities and Exchange Commission and the ACMF Working Group on Corporate Governance, praised companies like Converge that are adapting to evolving governance standards.
“The ACGS was updated in 2023 to reflect global best practices, including G20 and OECD principles,” Lim said. “Sustainability, diversity, and strong stakeholder engagement are now front and center. Despite tougher requirements, ASEAN companies have risen to the challenge.” —Ed: Corrie S. Narisma
