ACEN Corporation has been awarded four Golden Arrows by the Institute of Corporate Directors (ICD) for the third consecutive year following the results of the 2025 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards.

The energy company was among 116 publicly listed companies (PLCs) recognized this year and one of only 17 to achieve the four-arrow distinction. The awards ceremony was held at Okada Manila 

“This recognition from the ICD reaffirms that our governance principles remain steadfast even as ACEN pursues bold growth across multiple jurisdictions. For us, governance is not a mere compliance exercise – it is a strategic mindset that enables ambition and ensures that scale and sustainability go hand in hand,” Dodjie Lagazo, Group General Counsel and Compliance Officer, said in the company’s official release on November 19.  “At ACEN, growth and good governance are not opposing goals; they co-exist to create sustainable impact.”

Several Ayala group companies were also recognized this year. Ayala Corporation and Globe each received five Golden Arrows, while AyalaLand, BPI, and Integrated Microelectronics Inc. earned four. AREIT, AyalaLand Logistics Holdings, and ENEX Energy also received distinctions.

The ICD assesses companies on shareholder protection, stakeholder engagement, transparency and disclosure practices, and board effectiveness. Companies can earn up to five arrows based on their combined ACGS and Corporate Governance Scorecard results.

ACEN currently has around 7 GW of attributable renewable energy capacity across projects in the Philippines, Australia, Vietnam, India, and Lao PDR, with additional investments in Indonesia and other markets.

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