SEAOIL Management Committee Members
SEAOIL Philippines, Inc. recently signed the Integrity Pledge, joining almost 1,700 companies in the country who have likewise expressed their commitment in promoting ethical business practices and good corporate governance.
In signing the Integrity Pledge, SEAOIL becomes part of the Integrity Initiative - a private sector-led campaign aiming to strengthen ethical standards in society, and in the process level the playing field for business by giving ethical and compliant companies competitive advantage in both government and private sector transactions.
“Integrity is part of our core values. We believe that as a steward of the business, we need to espouse a value of Integrity. For us to be able to practice ethical business and good governance, we need to be a part of a community that shares the same belief system,” says Mr. Francis Glenn Yu, SEAOIL President and CEO.
SEAOIL's participation in the Integrity Initiative was formally launched among the Management Committee Members last April 22 at St. Francis Shangri-La Place. Guest speakers were Mr. Melito Salazar, Jr., Vice Chairman of Integrity Initiative and President of Management Association of the Philippines, and Atty. Antonio Ligon, SEAOIL External Legal Counsel.
All ManCom members signed the Integrity Pledge and declared their vow to live by the pledge's provisions. They also expressed full support in the company-wide implementation of the project.
“We want to conduct our business the ethical way since many successful businesses also had integrity as the foundation of all their dealings. Conversely, businesses here and abroad had fallen because they did not have Integrity as part of business practices shared with their employees, business partners, and other stakeholders,” Mr. Poly Mangay-ayam, Senior Manager of SEAOIL Internal Control and Audit Department, shares.
SEAOIL also agreed to be part of a “pilot” validation that will be conducted by an external auditor this May. This will validate the company's responses to the online Integrity Self Assessment (ISA) taken in August 2012.
The company's objective in participating is to encourage more businesses to support the advocacy and help craft the framework and methods of assessing the compliance of the signatories.
Commitments to the Integrity Pledge include the following:
- Prohibit bribery
- Maintain a Code of Conduct
- Conduct integrity training programs
- Implement internal systems and controls
- Maintain appropriate financial reports
- Implement a whistleblowing system
- Enter into Integrity Pacts
- Refrain from dealing with unethical companies
SEAOIL first learned about the Integrity Initiative in 2011, and made it part of its Quality Management System in March of the same year.
As a result, SEAOIL had the honor of being featured as one of the benchmark companies during the 2nd Integrity Summit held last year. The company was cited for its CARES program that became evident in the way it cares for its employees, partners and the environment.
The Integrity Initiative is being implemented in the Philippines by the Makati Business Club (MBC) and the European Chamber of Commerce of the Philippines (ECCP).