Study: 43% of Filipino CEO media coverage centres on sustainability, but ethics left behind

Filipino CEOs are gaining favourable media attention for their vision and sustainability initiatives, but narratives around ethical behaviour remain largely absent, according to a new study from global media intelligence firm CARMA.

The report, “CEO Media Index: What Media Narratives Reveal About Filipino CEOs,” analysed Tier-1 media coverage of the ten most frequently mentioned chief executives from January to June 2025. Using CARMA’s proprietary favourability rating system, the study examined sentiment, visibility, and narratives tied to core leadership attributes such as credibility, vision, and communication.

The analysis revealed that while 43% of CEO coverage highlighted sustainability, ethical leadership was missing from narratives, even within stories centred on corporate responsibility and environmental commitments.

Don't miss: PR Newswire partners SPH Media to expand SG reach

CARMA drew its sample from the BusinessWorld Top 1000 Corporations in the Philippines, which ranks companies by gross revenue. From the 20 highest-ranked firms, media mentions of their CEOs were measured, with the analysis concentrating on the ten executives receiving the most coverage.

Analysing 775 articles, the study finds that CEO visibility stems not only from financial results but also from how leaders communicate strategy, spearhead national initiatives, and demonstrate thought leadership. “CEOs who paired financial reporting with clear vision, strategic guidance, and strong communication were seen positively, even amid mixed company performance,” CARMA noted.

During the first half of 2025, all ten CEOs enjoyed favourable media coverage, with scores spanning from 57, indicating positive sentiment, up to 63, reflecting strong approval. CEO coverage was dominated by The Philippine Star, Manila Standard, and Inquirer.

High-profile leaders such as Manuel V. Pangilinan (Meralco) and Ramon S. Ang (San Miguel) dominated media presence, with coverage largely tied to projects supporting national development. Lynette V. Ortiz (Landbank) stood out for her visibility in digital transformation, while Carl Raymond Cruz (Globe) emerged as a thought leader in technology following his April 2025 appointment.

All ten CEOs scored positively in terms of favourability, though most rarely appeared in headlines. The exception was Globe’s Cruz, who secured significant headline exposure around his appointment and strategic direction.

“When a CEO appeared in a headline, it signalled a stronger focus on them within the article, often resulting in a higher favourability score,” CARMA said.

The study found that CEOs were depicted not merely as reporters of figures, but as leaders who paired financial performance with a clear focus on future growth, company strategy, and prudent decision-making amid uncertainty. Favourability was closely linked to how effectively they communicated financial results, even when the results were mixed. This pattern was particularly evident for leaders such as Ang and Stanley C. Co (Robinsons Supermarket Corp).

CEOs strengthened their visibility by positioning company initiatives as contributors to national progress. This approach gave Pangilinan and Ang the largest media share of voice.

In April, Meralco, under Pangilinan’s leadership, secured a franchise renewal from the Philippine House of Representatives, enabling it to extend operations beyond 2028 and invest in long-term infrastructure to improve electricity services. Meanwhile, in May, San Miguel Aerocity Inc. - a subsidiary of San Miguel Brewery led by Ang - announced the start of construction on the New Manila International Airport, a landmark infrastructure project for the Philippines.

Sustainability emerged as a central narrative across the top ten Filipino CEOs. Pangilinan led with initiatives in nuclear energy and governance transparency, followed by Ang for award-winning CSR and reporting. Ortiz earned recognition for sustainable practices in the public sector, while Cruz underscored sustainability as core to corporate strategy for delivering long-term value to stakeholders. Jose Teodoro Limcaoco (BPI) stood out for measurable impact through green financing.

Ethical leadership was mostly missing from CEO media narratives, even when sustainability commitments were highlighted. Ang was a rare exception. His leadership was portrayed not only through corporate initiatives, such as San Miguel’s child health programme that helps reduce malnutrition in disadvantaged communities, but also through personal actions, CARMA said.

“His decision to cover all medical and related expenses for the victims of a car crash at Ninoy Aquino International Airport’s departure area further highlighted his commitment to integrity, responsibility, and the welfare of others,” the study noted.

The findings underscore the growing importance of sustainability in shaping CEO reputation, but also highlight a critical blind spot in how ethical conduct is covered by Filipino media. For marketers and communications leaders, the study signals an opportunity to shape narratives that go beyond financial and sustainability messaging to include ethical leadership as a reputational pillar.

Related articles: 
Study: 79% of financial coverage on PH skews positive amid growth, green reforms
Study: 75% of Filipinos eye new streaming subscriptions as ad-supported viewing rises
Study: 55% of Filipino online gamblers unaware of legal risks on unregulated sites