BCDA gets outstanding rating from GCG

Clark Freeport — The Bases Conversion and Development Authority (BCDA) recently received an "outstanding" rating in the 2023 Corporate Governance Scorecard (CGS) from the Governance Commission for Government Owned and Controlled Corporations (GCG) at the Philippine International Convention Center.

According to president and CEO Joshua M. Bingcang, "The agency continues to set the standard for excellence in securing an 'outstanding' rating in the 2023 CGS from the GCG, reaffirming its position as one of the Philippines' leading state firms."

The agency bagged four awards, including recognition as one of the top-performing Government-owned and -Controlled Corporations (GOCCs) for 2023, achieving a remarkable milestone as one of the top state firms for nine straight years.

In addition to its top ranking, BCDA was also honored with an award for its commitment to sustainability values and practices, alongside certificates for achieving a perfect score in the Stakeholder Relationship and Disclosure and Transparency categories of the CGS from 2021 to 2023.

With a final score of 100.52%, BCDA ranked fifth among 14 state-owned corporations that received the highest CGS ratings. The performance audit evaluates BCDA's progress through a scorecard that measures its policies and practices in stakeholder relations, transparency, and board responsibilities, all in line with good governance standards.

This was achieved through the Client Satisfaction Measurement, a requirement set by the Anti-Red Tape Authority (ARTA) and the GCG, designed to assess the governance performance of GOCCs and identify their strengths as well as areas for improvement.

“The honor of this award extends beyond me to the people of BCDA. Our continued recognition as a leader in corporate governance is both a proud achievement and a driving force for the agency to work even harder in serving our stakeholders with excellence,” Bingcang said.

The certificate of recognition was awarded to chairperson Hilario B. Paredes and president and CEO Joshua M. Bingcang during the GCG Corporate Governance Scorecard for GOCCs Awarding Ceremony on 25 November at the Philippine International Convention Center.

Also present during the awarding ceremony were BCDA directors Atty. Anthony Marvin Ponce de Leon, Gerard Seno, and Roberto Flores.

The GCG recognizes well-governed GOCCs for their potential to significantly contribute to the country's economic development, as outlined in Republic Act No. 10149, also known as the "GOCC Governance Act of 2011."