JAZA extols economic journos in shaping public opinion

Jaime Augusto Zobel de Ayala, chairman of Ayala Corporation, the holding company of the Ayala Group, has extolled members of the Economic Journalists Association of the Philippines (EJAP) for their pivotal role in shaping public opinion by means of publishing both online and in print media the latest developments in the country’s business environment.

“Journalism is actually a difficult profession, given its many requirements: the persistence needed in chasing leads and sources, the rigor required in checking every data point, and most importantly, the discipline it demands in wielding the tremendous fire it holds in shaping public opinion,” said Ayala during the 35th Business Journalism Awards of the Economic Journalists Association of the Philippines on Friday at the Fairmont Hotel Makati.

He then commended members of the EJAP for excellently providing the fertile ground needed to develop high-quality journalistic talent that safeguards the truth and likewise speaks truth to power.

He said the Ayala Group salutes the hard and honorable work that economic journalists, as well as those from other beats or assignments, do every day.

“Company decisions, especially those in significant positions, affect thousands of employees, customers, investors, and communities. That’s the effect all you have. Independent journalism helps people understand the thinking behind these choices, assess their consequences, and keep institutions, including us in business, actually in check as well. We do pay attention to everything you write,” he said.

Further, Ayala said journalists, business leaders, and corporate communication professionals all shape public understandings.

“More than anything, our institutions are challenged to prove ourselves worthy of our stakeholders’ trust. In building that trust, we must first start by recognizing that we live in highly disruptive times. Unfortunately, institutions appear to bear the brunt of people’s distrust, especially here in the Philippines. People are asking whether institutions are competent, whether they’re honest, and whether they are in fact responsive to their needs. This skepticism is long without reason, as we continue to see failures unmet expectations and individuals and institutions were not held to account when they should be,” he explained.

Moreover, Ayala said the environment has also become tougher for all journalists, quoting a report from the most recent Reuters Institute Digital News Report, stating that the most comprehensive study of news consumption worldwide has found that only 28 percent of Philippine survey respondents trust the news most of the time.

On the other hand, a staggering 51 percent of respondents avoid the news if they can.

“However, I do believe that there is hope. While most Filipinos today access news directly from social media. Trust in individual brands and newsrooms has remained solid. And may I mention that Filipino journalists rank among the most diligent and committed worldwide,” he said.

Also gracing the occasion were Jaime Alfonso Zobel de Ayala, chief executive officer of ACMobility, and Mariana Zobel de Ayala, senior vice president and head of Leasing and Hospitality at Ayala Land Inc. (ALI), among other officials of the business units of the Ayala Group.

The Ayala Group has earlier renewed its ties with EJAP for the 35th Business Journalism Awards, a partnership that continues a collaboration that has supported excellence in business journalism for more than two decades.

The occasion is supported by Ayala Corporation, Ayala Land, BPI, Globe Telecom, ACEN, AC Health, AC Logistics, ACMobility, ACX, Integrated Micro-Electronics Inc., Mynt, iPeople and Ayala Foundation.

The EJAP Awards have become one of the country’s leading recognition programs for economic and business journalism, honoring work that brings greater clarity and insight to important economic and business matters.

By recognizing excellence in the profession, the awards also help uphold the value of credible, insightful, and responsible reporting.