THE Securities and Exchange Commission (SEC) announced on Wednesday a nationwide roadshow that aims to promote sustainability among small, medium, and large enterprises.
In a statement, the commission said the roadshow aims to introduce sustainability reporting, foster awareness, build capacity, develop measuring tools, and establish monitoring schemes to embed sustainability in business practices.
The roadshow was launched in collaboration with Accelerating Green and Climate Finance project funded by the Canadian government and implemented by the United Nations Development Program.
“Our world is facing complex challenges, from climate change to social inequality, and businesses play a crucial role in addressing these issues,” SEC Commissioner Javey Paul D. Francisco said.
“Sustainability reporting is not just about compliance; it is about creating long-term value for businesses, society, and the environment,” he added.
Small, medium, and large enterprises generate more than 5.7 million jobs and account for 105,000 business establishments in the country.
Only publicly listed companies are required to submit sustainability reports to the SEC.
The commission said it is currently updating guidelines to reflect the latest developments in global sustainability frameworks.
“Moving forward, we envision a future where sustainability is not just a matter of awareness but a standard practice for all small, medium, and large enterprises. By embracing sustainability practices and introducing sustainability reporting, businesses can enhance their competitiveness, attract investors, and contribute to sustainable development,” Mr. Francisco said.
After Cebu, the SEC will bring the roadshow to Davao in June, and Baguio in September. These will be followed by the annual Corporate Governance Forum in November, which is organized by the SEC and the Philippine Stock Exchange. — Revin Mikhael D. Ochave