SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner and Philippine Sustainability Reporting Committee (PSRC) Chairman, Benjamin “Benjie” N. Villacorte (BNV) led the PSRC meeting with Global Reporting Initiative (GRI) CEO Eelco van der Enden and his team from the GRI ASEAN Regional Hub held at SGV on 13 March 2023. PSRC member representatives also joined BNV in welcoming the GRI delegation.
GRI CEO Eelco van der Enden (center) with GRI ASEAN Regional Hub team and PSRC member representatives
Mr. van der Enden provided the PSRC with key updates related to the GRI and its collaboration with the International Sustainability Standards Board (ISSB). According to him, the two standard setters have committed to coordinating work programs and standard-setting activities, and talked about the need for further harmonization of the sustainability reporting landscape. He expects that the harmonization of International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards and GRI Standards can address distinct perspectives and form a comprehensive corporate reporting regime for the disclosure of sustainability information.
GRI CEO van der Enden (center) and GRI ASEAN Regional Hub team with CCaSS Partners Benjamin N. Villacorte (BNV), Katrina F. Francisco (KFF), Clairma T. Mangangey (CSM), Joseph Ian M. Canlas (JMC), and SEC Atty. Rachel Gumtang-Remalante
The GRI CEO also highlighted one of GRI’s major plans in the region, the Global Baseline Innovation Hub, as intended to be established with the ISSB. The GRI team addressed queries from the group on the harmonization of reporting standards and its implications for reporting organizations.