SEC: Sustainability a long-term strategy

An official of the Securities and Exchange Commission (SEC) has acknowledged the importance of environmental, social and governance (ESG) principles in corporate strategy.

Speaking at the 2nd Philippine Sustainability Now Forum last week, SEC Commissioner Javey Paul Francisco said that as the overseer of the Philippine corporate sector, the SEC promotes sustainability vis-à-vis the pressing needs for climate action, renewable business solutions and green workforce development.

"At the SEC, we believe that true progress toward a sustainable future is achieved not in leaps and bounds, but through cultivating consistent sustainable habits and embedding them within our organizational systems," Francisco said, noting that ESG is not just a regulatory requirement but a strategic approach to ensuring long-term competitiveness and resilience in a rapidly changing global market.

The SEC has made ESG integration a core part of its regulatory and advocacy work, as contained in the 2019 Sustainability Reporting Guidelines for Publicly Listed Companies.

It also extends these initiatives to small and medium enterprises through the SMILEES road show, an educational campaign on ESG practices tailored for smaller businesses.

The corporate regulator is likewise pushing for the development of the Philippine Sustainable Finance Taxonomy Guidelines, which aims to provide clear, credible standards for identifying and promoting sustainable investments in the country.

The forum was organized by the Italian Chamber of Commerce in the Philippines Inc.

Source: Manila Times