Dennis Gaviola

The Makati-Taguig skyline in this photo taken on April 12, 2024.   Gigie Cruz, ABS-CBN News

Article (news)

PH ECONOMY

Jekki Pascual

ABS-CBN News

MANILA - The Philippines Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) urge companies to expand their sustainability efforts, which includes having a sustainability committee reporting directly to the board.At the 11th Annual SEC-PSE Corporate Governance Forum in Makati, leaders of both institutions said the private sector needs to do more on sustainability practices and everyone must collaborate with each other or learn from the good practices of other firms. Corporate sustainability is the implementation of a business strategy that focuses on the environmental, social, ethical, and economic dimensions of doing business.“The PSE is committed to championing ESG [environmental, social and governance] initiatives as a self-regulatory arbitration and working hand in hand with our stakeholders to achieve our national net zero goals. The business sector has the potential to channel capital towards building resilience,” said PSE President and CEO Ramon Monzon.SEC Chairperson and CEO Emilio Aquino urged all companies to submit sustainability reports, not just publicly listed companies. He said, “Required na tayo is to report non-financial information through sustainability report. Doon ilalabas, ipapakita, idisclose nila they are addressing sustainability risks and opportunities.”Aquino said it is urgent for companies to already make sustainability a big part of business operations. He said members of the board are now responsible, not just for running the company, but also covers sustainability initiatives.“One of the causes of climate change is corporate abuses. We have to make sure they are mindful of the environment. Hindi lang puro profit lang nasa mind nila. They have to take care of the community. They have to take care of Earth,’ Aquino added.The forum, which was attended by dozens of business leaders, aims to expand corporate governance and sustainability through enhanced disclosures by introducing the Sustainability Report (SuRe) form for publicly listed companies. Several conglomerates with sustainability officials also shared their experiences with other companies.

The Philippines Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) urge companies to expand their sustainability efforts.

The Philippines Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) urge companies to expand their sustainability efforts.

PSE, SEC want sustainability initiatives for all companies

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PSE, SEC want sustainability initiatives for all companies

Jekki Pascual,

ABS-CBN News

Published November 28, 2024 09:07 PM PHT

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