SEC receives the highest honors from the United Nations

Switzerland.  The Securities and Exchange Commission (SEC) of the Philippines, led by its Chairman Emilio Aquino and Director of Corporate Governance and Finance Rachel Esther Jomtang-Remalante, and joined by Philippine Ambassador and Permanent Representative to the United Nations Evan B.  Ceremony held at the Palais des Nations in Geneva, Switzerland.  The United Nations Conference on Trade and Development (ISAR) conferred Honors (National Category) on the commission to enhance sustainability reporting by forming partnerships, raising awareness, advancing knowledge, and building capacity in the Philippine corporate sector.  (Contributed)

Switzerland. The Securities and Exchange Commission (SEC) of the Philippines, led by its Chairman Emilio Aquino and Director of Corporate Governance and Finance Rachel Esther Jomtang-Remalante, and joined by Philippine Ambassador and Permanent Representative to the United Nations Evan B. Ceremony held at the Palais des Nations in Geneva, Switzerland. The United Nations Conference on Trade and Development (ISAR) conferred Honors (National Category) on the commission to enhance sustainability reporting by forming partnerships, raising awareness, advancing knowledge, and building capacity in the Philippine corporate sector. (Contributed)

The Securities and Exchange Commission (SEC) has once again been recognized by the United Nations Conference on Trade and Development (Unctad) for promoting sustainability reporting and the Sustainable Development Goals (SDGs) in the Philippines.“I would like to thank the organizers of the ISAR Honors and accept this year’s award wholeheartedly in the hope that it will inspire other jurisdictions to fully adopt or continue to fully implement its sustainable practices,” SEC President Emilio Aquino said during The recently concluded ceremony at the Palais des Nations in Geneva, Switzerland.

“Since then, the SEC of the Philippines has been active in implementing its sustainability guidelines with the United Nations Sustainable Development Goals at their core, partnering with key stakeholders and implementing several capacity building programs that build on sustainability as a way of life and as a way to move towards a more sustainable future. sustainability,” he added.

The Philippines outranked 45 other organizations from other countries, sharing the spotlight with the World Bank and International Finance Corporation, the United Nations Global Compact, and the World Economic Forum, who took home the same award in the international category.

ISAR Honors recognize institutional policies, initiatives and capacity building initiatives, publicly available at the national or international level, that encourage and assist companies to disseminate data on their contribution to the implementation of the SDGs and that assist governments in collecting such data for their SDG monitoring needs.

While Unctad has endorsed SEC-organized workshops, trainings, seminars and partnerships to “raise awareness, advanced knowledge and capacity building in sustainability and SDG reporting in the Philippine corporate sector, following the issuance of the Sustainability Reporting Guidelines for Publicly Listed Companies (PLSc) through Circular Note No. 4, 2019 Series.”

“The continued provision of workshops and training courses on sustainability reporting is expected to lead to an increase in the number of sustainability reports submitted, a higher quality of sustainability-related disclosures and thus contribute to the achievement of the United Nations Sustainable Development Goals and other global goals on sustainability,” the commission said in a statement.

At the outbreak of the coronavirus disease (COVID-19), the Saudi Electricity Company also launched virtual workshops and training courses, which gave participants “ample room to interact with experienced people.”

According to the commission, the number of companies reporting their social, governance and environmental reports has increased from only about 22 percent of the total number of publicly protected companies before 2019 to about 91 percent in 2020, and more than 95 percent in 2021.

In 2019, the SEC also received ISAR Honors for advancing sustainability reporting and the Sustainable Development Goals by requiring PLCs to submit sustainability reports annually. (Sunstar Philippines)

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