Citicore Energy REIT Corporation (CREIT) has been conferred its second Golden Arrow Award by the Institute of Corporate Directors (ICD) in 2025, reinforcing the company’s sustained excellence in corporate governance among publicly listed companies in the Philippines.
The Golden Arrow Award recognizes top-performing publicly listed companies based on the global benchmarks set by the ASEAN Corporate Governance Scorecard (ACGS). These frameworks assess how well companies uphold shareholders’ rights, ensure equitable treatment of stakeholders, practice timely disclosure and transparency, and demonstrate the board’s ability to strategically guide the company while maintaining management accountability.
Receiving a second Golden Arrow underscores CREIT’s consistent adherence to corporate governance standards, following its first award in 2024.
Mr. Oliver Tan, President and CEO of CREIT, expressed his appreciation to the ICD for the recognition. “A second Golden Arrow Award in a row affirms CREIT’s sound corporate governance practices is consistent and a continuing commitment. Since our listing in 2022, we remain focused on building trust, protecting shareholder interests, and operating with transparency and accountability,” he said.
CREIT’s governance principles are deeply embedded in its role as a sustainable investment platform with a portfolio consisting of 7.1 million square meters of total leasable land, fully leased out to solar power plant developers and operators.
This commitment to governance directly supports CREIT’s value proposition to shareholders, delivering resilient performance through a stable, renewable energy-backed portfolio, a disciplined approach to value-accretive asset acquisitions, and distribution of consistent dividends exceeding the regulatory minimum of 90% of distributable income.
A Continuing Standard of Good Governance
The second Golden Arrow adds to CREIT’s growing list of recognitions for governance and sustainability leadership.
The company remains the first in Southeast Asia to receive a Dark Green rating from Shades of Green by S&P Global. This highest possible rating affirms the environmental integrity of its assets, long-term support for low-carbon power generation, and climate resilience.
This is further anchored by its Green Financing Framework, which has been recognized by global sustainability think tank Sustainalytics for its credibility, impact, and alignment with international sustainability financing principles.
The Philippine Rating Services Corporation has also renewed this 2025 CREIT’s PRSAa+ rating, adding a stronger credibility to the company’s ability to meet its financial obligations.
Tan once again emphasized that governance remains central to long-term value creation. “Strong corporate governance is the foundation that allows us to meet shareholder expectations. Our results reflect the shared commitment of our board, management, and employees to doing things the right way, consistently and sustainably,” he said.
