United Nations body honors SEC for initiative on sustainability reporting

MANILA,Philippines — The United Nations Conference on Trade and Development (UNCTAD) has recognized the Securities and Exchange Commission (SEC) for promoting best practices in sustainability and reporting on the Sustainable Development Goals (SDGs).

UNCTAD presented the ISAR Honors to the SEC particularly for the issuance of the Sustainability Reporting Guidelines for publicly listed companies through Memorandum Circular 4, Series of 2019.

The guidelines set forth the information that publicly listed companies will have to disclose in relation to their non-financial performance across the economic, environmental and social aspects of their organizations.

It also provides a framework for the reporting of the companies’ contributions toward achieving universal sustainability targets like the 2030 SDGs, as well as national policies and programs like AmBisyon Natin 2040.

“We are indeed elated and grateful for our recognition as one of the top recipients of the ISAR Honors 2019,” SEC chairman Emilio Aquino said.     

“While we, the Philippine SEC, consider our sustainability reporting initiative as a reward in itself coupled with our belief that the responsibility to create a sustainable environment is an imperative that need not even be in our regulations, as it seeks the preservation of humankind, we accept this award with gratification as it would serve as an impetus to galvanize other organizations in our part of the world to take the same route and pursue this noble aim with much resolve.”

Launched in 2018, the ISAR Honors seek to support efforts on enhancing the quality and comparability of companies’ reporting on sustainability issues and on the 2030 Agenda for Sustainable Development and its usefulness for monitoring the implementation of the SDGs.