In photo are (l-r): Nonette Climaco, Integrity Initiative Project Officer; Poly Mangay-ayam, SEAOIL Internal Control and Audit Dept. Senior Manager; Monette Mabanag, Integrity Initiative Project Assistant; Beth Hockenhull, Validator/Certification Manager and SA 8000 Lead Auditor; Emmanuel Danion, Validator/Chief Executive Officer, Bureau Veritas Philippines; Francis Glenn Yu, SEAOIL President & CEO; and Lina Erece, Validator/Finance Officer, Geogen Corporation & Magnus Metalurgical Mining Corp.
SEAOIL gets an integrity assessment rating of 109 in the external validation organized for the Integrity Initiative by the European Chamber of Commerce of the Philippines (ECCP). This is 12 points higher than the company's self assessment score submitted August last year.
This activity is in line with SEAOIL's recent signing of the Integrity Pledge and becoming part of the Intergrity Initiative – a private sector-led campaign that promotes ethical and honest corporate practices leading to a level playing field for all businesses.
SEAOIL is among the first Philippine companies that underwent an external validation of their internal assessment scores. The results of this validation process can be the basis for possible government incentives for companies certified on integrity.
There are five (5) Levels of Implemention of Organizational Integrity Practices: Reaction (0), Initiation (1 to 74), Expansion (75 to 148), Refinement (149 to 222), and Advanced (223 to 296).
The score of 109 indicates that SEAOIL is currently in the Expansion level, which means that we are implementing systematic integrity practices in the organization.
Reaction level means that intergrity practices are non-existent. Initiation means that the company is starting to implement intergrity practices. Refinement means that integrity practices are continuously evaluated and improved. Lastly, the Advanced level means that integrity practices are mainstreamed in the organization and it demonstrates best practices.
SEAOIL is assessed in six (6) focus areas, namely Top Management, Dealing with Employees, Dealing with Clients, Dealing with Business Partners, Dealing with Finances, Dealing with Government, Communities, Environment & other Key Stakeholders.
We are at the Expansion level in three (3) out of the six (6) focus areas, Initiation in two (2) and Refinement in one (1) focus area.
The proper assessment of existing intergrity practices will guide the company in arriving at appropriate learning interventions to further improve our intergrity system.
Our strengths are likewise identified through the assessment process to encourage continued focus on these areas. Among the strengths highlighted is the institution of the Compliance Monitoring Oversight Committee (CMOC), which helps ensure that employees abide by the company's Code of Conduct and that non-compliance are dealt with fairly. Other strengths mentioned are the top management's strong commitment to the intergrity pledge, trainings for employees, sound accounting system, and regular compliance with taxes.
SEAOIL will undergo an actual validation by the Integrity Initiative in July.
Integrity Initiative is being implemented in the Philippines by the Makati Business Club (MBC) and the ECCP.