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I. Stakeholder Relationships  
1. Does GOCC disclose a policy that:  
a. Stipulates the existence and scope of its effort to address customer’s welfare? Yes. Please see attached link

b. Elaborates its efforts to interact with the communities in which they operate? Yes. Please see attached link

c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? Yes. Please see attached link

2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?  
a. Customer health and safety


b. Interaction with the communities  
c. Environmentally-friendly value chain  
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report or sustainability report? Yes. Please see attached link

Annual Reports



4. Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.  
a. Does the GOCC provide contact details via the Company’s website or Annual Report which stakeholders (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights? Yes. Please see attached link.

5. Performance-enhancing mechanisms for employee participation should be permitted to develop.  
a. Does the GOCC explicitly mention the health, safety and welfare policy for its employees? Yes. Please see attached link.

b. Does the GOCC publish data relating to health, safety and welfare of its employees? Yes. Please see attached link.
Office Order No.32, Series of 2021
Office Order No.53, Series of 2021
c. Does the GOCC have training and development programs for its employees? Yes. Please see attached link
PNR Training and Development Program
d. Does the GOCC publish data on training and development programs for its employees?

Yes. Please see attached link

 

6. Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.

Yes. Please see attached link
PNR CODI Rules

a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior? Yes. Please see attached link

b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation? Yes. See Whistleblowing Policy

II. Disclosure and Transparency  
7. Quality of Annual Report.
Does the GOCC’s annual report disclose the following items:
Yes. Please see attached link
a. Corporate objectives
b. Financial performance indicators
c. Non-financial performance indicators
d. Details of whistle blowing policy
e. Biographical details of directors
f. Training and/or continuing education program attended by each director
 
8. Are the Annual Reports downloadable from the GOCC’s website? Yes. Please see attached link

9. Corporate Governance Confirmation Statement  
a. Does the Annual Report contain a statement confirming the company’s full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?  
10. Timely filing/release of annual/financial reports  
a. Are the audited annual financial report/statement released within 60 days upon receipt from COA? Yes. Please see attached link

b. Is the annual report released within 90 days from release of audited financial report? Yes. Please see attached link

c. Is the true and fair representation of the annual financial statement/reports
affirmed by the board of Directors and/or the relevant officers of the company?



III. Responsibilities of the Board  
11. Corporate Vision and Mission/Strategy  
a. Has the Board of Directors reviewed the vision and mission/strategy in the last financial year? No
b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy? Yes. Please see attached link



12. Did the GOCC achieve 90% in the PES? Yes. Please see attached link

13. Code of ethics or conduct  
a. Are the details of the code of ethics or conduct disclosed? Yes. Please see attached link

b. Does the GOCC disclose that all Directors, senior management and employees are required to comply with the code?  
c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?  
14. Does the Board appoint a Nomination and Compensation / Remuneration Committee? Yes. Please see attached document.


15. Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year? Yes. Please see attached document.


16. If yes, is the report of the Nomination and Compensation/Remuneration Committee publicly disclosed? Yes. Please see attached document.


17. Does the Board appoint an Audit Committee? Yes. Please see attached document.


18. If yes, is the report of the Audit Committee publicly disclosed? Yes. Please see attached document.


19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)? Yes. Please see attached document.


20. Did the Audit Committee meet at least four times during the year? Yes. Please see attached document.

21. Does the Board appoint a Risk Management Committee? Yes. Please see attached link


22. If yes, is the report on Risk Management Committee publicly disclosed? Yes. Please see attached link


23. Does at least one member of the Risk Management Committee have a background in finance and investments? Yes. Please see attached document.


24. Board meetings and attendance  
a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1) Yes. Please see attached document.
Board Meeting Schedule 2021

b. Does the Board of Directors meet at least monthly? Yes. Please see attached document.
Board Attendance 2021

c. Did the Board of Directors meet on at least 75% on their scheduled meetings? Yes. Please see attached document.
Link:

d. Has each of the Directors attended at least 90% of all the board meetings held during the year? Yes. Please see attached document.
Link:

e. Did the Board of Directors meet separately at least once during the year without the President/CEO present? No. Please see attached document.
Link:

25. Access to information  
a. Does the GOCC have a policy that stipulates board papers for Board of Directors meetings be provided to the Board at least three (3) working days in advance of the board meeting? Yes. Please see attached document.

b. Is the Board Secretary trained in legal, accountancy or company secretarial practices? Yes. See attached document
Curriculum Vitae of Assistant
Corporate Secretary
26. Internal Audit  
a. Does the company have a separate internal audit function? Yes. See attached document
PNR Organizational Structure
b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?  
27. Risk Oversight  
a. Does the company disclose the internal control procedures/risk management systems it has in place? Yes

b. Does the Annual Report disclose that the Board of Directors has overseen a review of the company’s material controls (including operational, financial and compliance controls) and risk management systems? No
c. Does the company disclose how key risks are managed?  
d. Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC’s internal controls/risk management systems? Yes

28. Board Chairman  
a. Do different persons assume the roles of Chairman and CEO? Yes. See attached document
Certification
29. Board of Directors Development  
a. Does the GOCC have orientation programs for new Directors? Yes. See attached document
Board Orientation
b. Does the GOCC have a policy that encourages Directors to attend on-going or continuous professional education programs?  
c. Did all Appointive Directors attend at least 1 training for the calendar year?  
30. Board Appraisal  
a. Is an annual performance assessment conducted of the Board of Directors?

b. Does the GOCC disclose the process followed in conducting the Board assessment?  
c. Does the GOCC disclose the criteria used in the Board assessment?

31. Committee Appraisal  
Is an annual performance assessment conducted of the Board of Directors Committees?

Does the GOCC practice Global Reporting Initiative (GRI) on its annual reports? No
Are the audited annual financial report/statement released within 30 days upon receipt from COA?

Responsibilities of the Board  
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and Publicly Listed Companies (PLCs)?  
Is there non-compliance with Good Governance Conditions?