This article provides an overview of the evolving sustainability landscape in the Philippines, focusing on the recently issued regulations and anticipated changes for businesses in 2025 and beyond. It highlights the Securities and Exchange Commission's (SEC) Sustainability Reporting Framework and the revised SuRe Form, which includes mandatory climate-related risk assessments and financial impact analysis. The article also discusses the phased implementation of mandatory disclosures for different company tiers and encourages businesses to begin conducting gap assessments against the SuRe Form and IFRS S1/S2 guidelines to ensure compliance and leverage sustainability reporting for strategic value creation.
THE Philippines ' sustainability landscape is fast evolving. As 2024 comes to an end, here's a rundown of sustainability regulations issued this year and the expected regulatory changes that businesses should look out for in 2025 and beyond.Since the Sec urities and Exchange Commission introduced its Sustainability Reporting Framework in 2019, there has been a notable increase in compliance, with 95 percent of listed companies now reporting on their sustainability initiatives.
Climate change and decarbonizationIn June 2024, the Philippines submitted to the United Nations Framework Convention on Climate Change its National Adaptation Plan , outlining strategies to reduce vulnerability and significantly enhance the country's resilience to climate-related risks by 2050.
Sustainability Regulations Philippines SEC Sure Form IFRS S1/S2 Climate Risk Financial Impact Analysis
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