SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner and Philippine Sustainability Reporting Committee (PSRC) Chairman Benjamin N. Villacorte (BNV) led the 1st regular PSRC meeting on 20 January 2023 at the Washington SyCip Development Center, SGV I Building in Makati City.
PSRC members pose for a group photo
Benjamin and the PSRC members discussed updates from the International Sustainability Standards Board (ISSB) and Global Reporting Initiative (GRI) and reviewed the PSRC’s operating procedures as well as its members’ proposed activities for the year. The meeting also clarified the role of PSRC as an enabler of opportunities and solutions to advance sustainable development in the country. Benjamin was assisted by CCaSS Managers Ricky S. Maulion and Diana A. Sadili-Chu.
The PSRC is composed of members from accounting firms, regulatory agencies, academic institutions, and business associations. They provide technical assistance to the Philippine Financial and Sustainability Reporting Standards Council (FSRSC) in the adoption and issuance of sustainability reporting guidelines and standards in the Philippines. The election and induction of PSRC members in December 2022 was facilitated by SGV Chairman and Managing Partner and FSRSC Chairman Wilson P. Tan (WPT).
The formation of the PSRC was approved by the FSRSC to complement the Securities and Exchange Commission’s (SEC’s) efforts in mainstreaming Economic, Environmental, Social and Governance (EESG) disclosures among publicly listed companies (PLCs).