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SGV Financial Services Organization (FSO) Partner Veronica Mae “Nica” Arce Balisi was a resource speaker at the Financial Executives Institute of the Philippines (FINEX) Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) training held via Zoom. This was Nica’s 10th time conducting this session for FINEX Academy.  Nica (upper left) and FINEX Director Ned Goseco (upper right) during the webinar FINEX Director Ronald Luis "Ned" Goseco delivered the welcome remarks and introduced Nica as the resource speaker. Nica gave an overview of money laundering (ML) and terrorist and proliferation financing (TPF). Nica also discussed different concepts of predicate crimes and unlawful activities, Philippine legislation and updates on the regulatory landscape, and the primary duties of covered persons or institutions in combatting ML/TPF. FSO Director Anne Mariel Lagao facilitated knowledge checks via poll questions given in between discussions to maintain interaction with the participants and to gauge their understanding of the topics. To wrap up the session, Nica emphasized that, “As covered persons, we have our own roles that can mitigate ML/TPF risks, if we’ll just use our power or authority for the right purposes then together, we can build a better working world.” 

SGV was recognized by the Chinese Enterprises Philippine Association (CEPA) as Outstanding Partner during CEPA’s 2023 annual meeting and new year reception held at the Bonifacio Hall of Shangri-la the Fort, Manila on 16 December 2023. SGV Chinese Overseas Investment Network (COIN) Leader Fidela T. Isip-Reyes and SGV Assurance Partner Jonathan T. Bino received the award certificate on behalf of the Firm. SGV Assurance Partner Jonathan T. Bino and SGV COIN Leader Fidela T. Isip-Reyes (third and fourth from left) with the other CEPA awardees SGV Certificate of Award from CEPA Representatives from the Philippine government, including the Department of Foreign Affairs (DFA), Office of the Special Presidential Envoy to China, Office of the Presidential Adviser on Economic Affairs, and Philippine National Police, among others, attended the event. Also present were Embassy of the Peoples’ Republic of China in the Republic of the Philippines representatives Ambassador Huang Xilian and Minister Counsellor Yang Guoliang, Filipino-Chinese business community representatives and more than a hundred members of the CEPA.

SGV Partners, Principals, and staff attended the 1st Central Luzon Year-end Briefing: Outlook for 2024 and Beyond held on 18 December 2023 at the SGV Clark Office. The event was organized by SGV Clark and was attended by C-suite locator-clients and potential Philippine investors, various Chambers of Commerce and Business Organizations within Central Luzon. BCDA Chairman Delfin N. Lorenzana at the 1st Central Luzon Year-end Briefing The featured guests from the National Economic Development Authority (NEDA), Clark Development Corporation (CDC), Subic Bay Metropolitan Authority (SBMA) and Clark International Airport Corporation (CIAC) presented highlights on the 2023 developments in Central Luzon, particularly in Pampanga, Clark, Tarlac, and Subic, as well as the economic outlook for 2024, including expectations for economic growth, investment climate and any potential challenges or opportunities. BCDA also shared their most important projects and accomplishments for 2023 which included projects that locators and investors should look forward to in 2024. Present at the event were BCDA Chairman Delfin N. Lorenzana, BCDA Investment Promotion and Marketing Department Head Michelle De Vera, CDC President and Chief Executive Officer Atty. Agnes VST Devanadera, CIAC President and Chief Executive Officer Arrey A Perez, SBMA Business and Investment for Manufacturing and Maritime Department Manager Karen Magno, and NEDA Region III Assistant Regional Director Evelyn Nacario-Castro. 

SGV was one of the sponsors of the Global Compact Network Philippines (GCNP) 5th Sustainability Summit, an annual event that showcases the sustainability efforts and journey of its members. More than 150 participants attended the two-day summit which was held at the Makati Diamond Residences and the WSDC Training Rooms at the SGV I Building. (From left to right) GCNP Executive Director Octavio "Bobby" Peralta, SGV Chairman and Country Managing Partner Wilson P. Tan, Co-CEO of Bayo Manila, Inc. Anna Marie Lagon, UNGC Regional Head for Asia and Oceania Neha Das, Nickel Asia Corporation President and CEO Martin Antonio Zamora, and GCNP Chairperson Ma. Victoria "Vickie" Tan SGV Chairman and Country Managing Partner Wilson P. Tan attended the by-invitation-only CEO Forum where CEOs discussed their vision, plans, scale-up activities, and contribution to the Sustainable Development Goals (SDGs) and the 10 Principles of the United Nations Global Compact (UNGC). In another segment, EY Singapore Principal Praveen Tekchandani talked about Sustainability Reporting.  EY Singapore Principal Praveen Tekchandani The second part of the program focused on the International Financial Reporting Standards (IFRS) Sustainability Reporting Standards. SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco provided an overview of the IFRS S1 and S2 and a more a detailed discussion of the former. EY Singapore Principal Praveen Tekchandani provided a more in-depth discussion of the IFRS S2 and climate-related disclosures. KFF and Praveen also provided updates on the local adoption of these standards and their content requirements.  (From left to right) GCNP Chairperson Ma. Victoria "Vickie" Tan, CCaSS Partner Katrina Francisco, CCaSS Senior Manager Kevin Henson, CCaSS Senior Manager Fernando Salud, GCNP Vice-Chairperson Yayu Javier, and EY Singapore Principal Praveen Tekchandani Sustainability Summit participants CCaSS Senior Managers Kevin Henson and Fernando Jose Salud talked about climate risk assessment for physical and transitions risks in relation to climate-related disclosures. They also discussed climate hazards with relevant data and parameters and their potential impacts on businesses.

SGV Consulting Manager Jeffrey C. Yee is now a Certified Lean Six Sigma (LSS) Green Belt (GB) professional. Jeffrey received certification from the LSS external certification program sponsored by SGV for Business Consulting – Supply Chain and Operations in October 2023. SGV Consulting Manager and Certified Lean Six Sigma Green Belt professional Jeffrey C. Yee Jeffrey obtained the certification by attending a 56-hour LSS GB course, passing the written examination, and successfully completing and submitting an actual project study application. Lean Six Sigma is a recognized process improvement methodology thatis needed for foundational operational excellence skills for the Supply Chain team. This supplements the EY Supply Chain Internal Training and Industrial Engineering (IE) curriculum. This is also a preferred certification by EY clients. Congratulations, Jeffrey!

SGV Tax Principal Atty. Alden C. Labaguis assumed the position of Vice Chairperson of the Tax and Financial Services (TFS) Committee of The European Chamber of Commerce of the Philippines (ECCP) effective 8 January 2024. ECCP Executive Director Florian Gottein confirmed Atty. Alden’s appointment on the same date through official correspondence.ECCP TFSC Chair Atty. Con Simundac (left) and ECCP TFSC Vice Chair Atty. Alden C. Labaguis (right) Atty. Alden works together with ECCP TFSC Chair Atty. Con Simundac, Lead Legal Counsel of ING Bank Philippines. The ECCP is a bilateral foreign chamber that promotes European interests in the Philippines and vice versa. As an organization with close to 800 members and a strong partnership with the government, the ECCP offers a strong business network that holds great potential in translating to tangible business opportunities. The Chamber strives to make its members’ viewpoints heard on economic and business issues, legislative measures, and administrative regulations. The ECCP recognizes that the financial and fiscal sectors play a key role in helping ensure inclusive and sustainable economic growth and development. Subsequently, the implementation of suitable policies can help facilitate improved generation of funds as well as adequate allocation of resources. The ECCP TFSC engages with relevant stakeholders in initiatives towards improving fiscal and monetary policies including tax reform measures, as well as on improving inclusivity and security in the financial sector.

SGV Partners Jose Pepito E. Zabat, Eleanore A. Layug, Hentje Leo L. Leaño, and Peter John R. Ventura, and Market Group (MG) 7 Assurance and Tax Managers participated in the 69th Annual National Mine Safety and Environment Conference (ANMSEC) at the CAP–John Hay Trade and Cultural Center in Baguio City.  SGV Partners Jose Pepito E. Zabat, Eleanore A. Layug, and Peter John R. Ventura, and MG7 Senior Managers with PMSEA President and ASEAN Eng. Luis R. Sarmiento The conference featured mining exhibits, a youth congress, mine safety field demonstrations and competitions, and mining, metallurgical, geological, and environmental symposia. The Presidential Mineral Industry Environmental Award for the best mining practices in the Philippines was also conferred during the event. SGV Partners Jose Pepito E. Zabat, Eleanore A. Layug, and Hentje Leo L. Leaño, and MG7 Assurance and Tax Managers The Philippine Mine and Safety and Environment Association (PMSEA) in cooperation with the Mines and Geosciences Bureau (MGB) and the Department of Environment and Natural Resources (DENR) organized the conference, which was attended by representatives from mining companies, regulators and local government units, and other industry stakeholders. PMSEA is a volunteer organization that promotes best practices in the areas of occupational health and safety, sound environmental management, and social development among mining companies operating in the Philippines.

The SGV Climate Change and Sustainability Services (CCaSS) team and Philippine Sustainability Reporting Committee (PSRC) Secretariat organized and hosted International Sustainability Standards Board (ISSB) meetings with the Securities and Exchange Commission (SEC), the Bangko Sentral ng Pilipinas (BSP), and the Philippine Stock Exchange (PSE) and a joint meeting with the Financial and Sustainability Reporting Standards Council (FSRSC) and the PSRC at the SGV Makati office.  SGV, ISSB, SEC, and PSE meeting participants The meetings aimed to engage the PSE, SEC, and local stakeholders regarding the ISSB Standards and the Philippines’ roadmap for adoption. Topics covered during the meetings were the perspectives on Philippines’ jurisdictional roadmap towards adoption of the ISSB Standards, the status and possible future development of SEC ESG Guidance for sustainability reporting, organizational perspectives on ISSB’s future agenda, and capacity building needs. Speakers and participants during the Joint FSRSC and PSRC Meeting with ISSB CCaSS Partner Benjamin N. Villacorte, CCaSS Directors Ricardo Maulion Jr. and Diana Sadili-Chu, and CCaSS Associate Director Jouelle Nerveza-Sumile formed part of the CCaSS team.  ISSB guests during the meeting were Vice Chair Jingdong Hua, Director of Regulatory Affairs Jonathan Bravo, Strategic Affairs and Capacity Building Manager Evie Robertson. PSE and SEC Officers, as well as FSRSC and PSRC members also attended the meetings.

SGV Consulting Partner and EY Asean Core Consulting Quality Leader Joseph Ian M. Canlas received the 2023 Most Outstanding Kapampangan Award (MOKA) Emerging Category for Finance. Ian was recognized for his exemplary achievements and contributions and for continuing to embody the ideals of a true Kapampangan. He received the award during the 452nd founding anniversary of the province of Pampanga on 11 December 2023. 2023 Most Outstanding Kapampangan Awardee for Finance Joseph Ian M. Canlas (center) “Beyond being a CPA, I strived and became the professional I am today — an external and internal auditor, consultant in risk/compliance management, internal controls, and corporate governance, among others, for both public and private sectors. It is my passion and I advocate for initiatives related to ESG or Sustainability. I hope to be an example that you can do more beyond your original profession,” Ian said. Ian (center) with Assurance Senior Manager Leo Niño R. Canlas (left) and SGV Clark Head and Partner-in-Charge Margaux A. Advincula Ian believes that companies should be mindful of people being the heart of organizations; their clear purpose, initiatives on environment, and social and governance should be given more of a spotlight through non-financial reports such as sustainability reports. Ian was honored alongside 12 other MOKA awardees. The MOKA is an annual search for Kapampangans who excel in their respective endeavors or professions. The MOKA Award is perceived as the pinnacle of all awards conferred by the Province of Pampanga to its outstanding sons and daughters. Congratulations, Ian!

SGV Climate Change and Sustainability Services (CCaSS) Partner and Philippine Sustainability Reporting Committee (PSRC) Chair Benjamin “Benjie” N. Villacorte participated in the International Auditing and Assurance Standards Board (IAASB) Global Roundtable on the Exposure Draft of the Proposed International Standard on Sustainability Assurance (ISSA) 5000. The roundtable was held at the Securities Commission office in Kuala Lumpur, Malaysia. Benjie at the IAASB Global Roundtable As the PSRC Chair and Philippine representative, Benjie provided insights on the topics covered by the roundtable, such as the Proposed ISSA 5000 as the overarching standard for sustainability assurance, fundamental premises in the Exposure Draft of ISSA 5000, sustainability information reported, and communication and reporting. IAASB Global Roundtable Benjie was joined by sustainability reporting standard-setters, users of sustainability information, policy makers and regulators for reporting, and preparers of sustainability information. The roundtable aimed to gain insights from users of sustainability information reported externally by entities, preparers of such sustainability information, those charged with governance of entities, public officials, and other interested parties, along with their representative bodies and advisors on the proposed International Standard on Sustainability Assurance ISSA 5000 General Requirements for Sustainability Assurance Engagements.