Europe-PH News

Three companies have so far initiated reforms within their organizations that could help eradicate unethical business practices in the country.

SeaOil Philippines, TeaM Energy and Isla Lipana & Co. are some of the signatories of the Integrity Pledge of a private sector-led campaign that took the initial step to create positive change within their organizations.

Integrity Initiative Chairman Ramon del Rosario Jr. said their efforts make them optimistic about the future of this nation, whose flourishing economy could be attributed to good governance and transparency within the government.

“We believe that with more and more companies and organizations following their footsteps, the goal of strengthening integrity in our society is well within reach,” he said.

Even prior to signing the pledge a few years back, these firms were already practicing honesty and integrity in their workplace.

While they continue to improve and promote ethical ways at present, they also make sure that they follow the guidelines provided by Integrity Initiative, and that these are rolled out to all partners and employees, who they also encourage to become part of the group.

Following its signing of the pledge in 2011, SeaOil Philippines created antibribery and anticorruption policies, as well as their very own four-point integrity test.

They, likewise, tied up with Kaya Natin Movement, backed up the Jesse M. Robredo Foundation, and spearheaded the Lead Like Jesse Emerging Leaders Camp for the promotion of good governance among local government units and future society leaders.

The country’s largest independent oil company also conduct regular leadership seminars and put up an ethics hotline.

“We encourage employees to report any unethical acts through our ethics hotline, and we ensure them that cases are investigated, and sanctions will be made once proven guilty,” said Polymar Mangay-ayam, head of SeaOil Philippines Internal Control and Audit Department.

To prevent corruption within its organization, TeaM Energy, since joining the group in 2012, has aligned its policies, with the completion of its code of conduct, implementation of rewards and discipline systems, incorporation of integrity into the corporate goals each year, review of existing rules dealing with integrity, as well as hiring compliance officers.

“We have integrity risk assessments based on Guide of Anti-Corruption Risk Assessment of the United Nations Global Compact,” said Maria Teresa C. Lopez, assistant vice president for corporate affairs of TeaM Energy and TeaM Energy Foundation.

“We requested our management committee to do an initial self integrity risk assessment to find out problem areas and what we can do about them,” she said.

Isla Lipana & Co. is improving its current processes and documentation following a continuous enhancement approach that can lead them to be a more ethical and responsible corporate citizen.

“Integrity has always been the bedrock of our firm since it was established in 1922. We are committed to having stringent vetting or validation process before we accept a client. We also make sure that our integrity compliance framework reflects our company’s beliefs and is being followed,” said Alexander Cabrera, chairman and senior partner of Isla Lipana & Co.

Established in 2009 by the Makati Business Club and the European Chamber of Commerce of the Philippines, Integrity Initiative aims to promote common ethical standards among different sectors of society.

Currently, there are 1,646 signatories that practice integrity and honesty within their organizations while seeking for a more ethical business practices in the Philippines. 

Source: Business Mirror