SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz and SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte, along with other members of the Makati Business Club (MBC), met with Securities and Exchange Commission (SEC) Commissioner Bryant Fernandez in January 2024.
MBC-SEC meeting attendees (Photos courtesy of MBC)
They discussed the revised guidelines on Sustainability Reporting, which would require companies to submit more evironmental, social and governance (ESG) information following global metrics. MBC representatives shared concerns around the challenges of getting some of the required disclosures.
SGV served as MBC's technical adviser last year for an MBC report on the State of Sustainability Reporting in the Philippines, which was also shared with the SEC as a policy input.
The SEC has required publicly listed companies to submit an annual sustainability report since 2019. The MBC’s work on sustainability and access to information is supported by the Center for International Private Enterprise, a US-based institute that works to support democracy and to strengthen the private sector.
