The Philippine Reclamation Authority (PRA) once again secured an outstanding rating on the 2020 Corporate Governance Scorecard (CGS) of the Governance Commission for Government-owned and controlled corporations (GCG), equivalent to a numerical rating of 90.00 percent to a 100.00 percent.
Since its establishment in 2015, PRA has consistently been one of the top 10 highest scorers in the CGS assessment among government-owned and controlled corporations (GOCCs). Even in times of adversity, the stellar performance of PRA in corporate governance standards and practices in 2020 is a testament of its values and quality policy that translate into quantifiable results, as validated by the GCG.
Pursuant to the GOCC Governance Act of 2011 (R.A. No. 10149), the Corporate Governance Scorecard (CGS) for GOCCs was established to reinforce the Code of Corporate Governance for GOCCS mandated under Section 5(c) of R.A. No. 10149.
Derived from OECD Principles of Corporate Governance and ASEAN Corporate Governance Scorecard, the CGS is a quantitatively-driven evaluation tool designed to assess the standards of corporate governance and initiatives of GOCCs. It also aims to recognize well-governed and high-performing GOCCs in terms of efficiency of policies and standards of practice.
This recognition is a reflection of PRA’s strong commitment in carrying out its functions and mandates with utmost transparency, accountability, and excellence through the leadership of its Board and Management and the competency of its workforce.