Philippines to begin implementing mandatory sustainability reporting by 2026

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Eco-Business 2d ago

Philippines to begin implementing mandatory sustainability reporting by 2026 - Eco-Business

Quick Summary:

The Security and Exchange Commission said it will be conducting a market readiness study on firms this year and adopt a "transitional approach” towards requiring listed firms to disclose their environment, social and governance credentials.

The Philippines, along with Cambodia, Myanmar, Laos, and Timor-Leste, are the only countries in the region which have not adopted mandatory sustainability reporting guidelines.

The regulator is working with the Philippine Stock Exchange to benchmark itself with its Southeast Asian neighbours to determine the tiering approach for implementation of sustainability disclosures most appropriate for the local setting.