The Securities and Exchange Commission (SEC) Awarded for Promoting Sustainability
The Securities and Exchange Commission (SEC) has once again been recognized for its commitment to promoting sustainability in the corporate sector. The SEC was named as one of the Circle of Excellence awardees in the Sustainability Company of the Year category during the 14th Asia CEO Awards. This marks the second consecutive year that the SEC has received this distinction, which recognizes companies that have achieved success in environmental progress and demonstrated leadership and commitment to sustainability.
SEC Chairperson Emilio B. Aquino expressed his gratitude for the award, stating that it demonstrates the SEC’s continued commitment to sustainability and its efforts to protect the planet by promoting sustainable practices in the corporate sector. Aquino emphasized the importance of sustainability in ensuring a better future for Filipinos, and highlighted the SEC’s integration of sustainability targets and initiatives within the organization, as well as its promotion of such initiatives in covered entities.
In line with its commitment to sustainability, the SEC introduced the Sustainability Reporting (SuRe) Form this year, which sets a new benchmark for transparency and disclosure in the corporate sector. The SEC’s preparations for its own Sustainability Report serve as a testament to its dedication to transparency and accountability.
Furthermore, the SEC has been proactive in collaborating with other regulatory entities in the financial sector to harmonize national policies and synchronize regulations and sustainability initiatives, promoting interoperability and transparency within the Philippine sustainable finance capital market.
Over the last five years, the SEC has released new rules and regulations aimed at promoting sustainability as part of the management strategy of Philippine corporations. These efforts include the issuance of guidelines for the submission of digital copies of applications, compliance documents, and other requests, as well as the update of Sustainability Reporting Guidelines to reflect international standards.
The SEC’s commitment to sustainability was further demonstrated with the issuance of rules on Sustainable and Responsible Investment Funds and the adoption of the ASEAN Sustainable and Responsible Fund Standards. These efforts position the SEC as a leader in promoting and regulating sustainable and responsible investment in the region.
Overall, the SEC’s recognition as a sustainability champion reinforces its dedication to promoting sustainable practices and long-term growth in the corporate sector, and its leadership in driving positive change in the Philippines.