ISAR Honours 2019 Recognizes SEC Initiatives on Corporate Sustainability Reporting

Securities and Exchange Commission Chairperson Emiliano Aquino (center) and other SEC officials with Philippine Permanent Representative to the United Nations and Other International Organizations Ambassador Evan P. Garcia (second from left), after receiving the ISAR Honours for National Initiatives on 30 October 2019 in Geneva, Switzerland. (Geneva PM photo)

SWITZERLAND 25 November 2019 – The efforts of the Philippine Securities and Exchange Commission (SEC) to promote sustainability reporting among publicly-listed corporations received its well-deserved recognition at the International Standards of Accounting and Reporting (ISAR) Honours 2019 in Geneva on 30 October 2019.

The ISAR Honours aims to raise awareness on national and international best practices in sustainability and reporting on the implementation of the 2030 Agenda for Sustainable Development.

SEC’s issuance of a memorandum circular requiring all publicly-listed corporations to incorporate Sustainable Development Goals (SDG) reporting in their annual reports was chosen as one of the best national initiatives, as it enabled the increase in the number, quality, and consistency of sustainability reports in the country, while ensuring that these reports are aligned with and encourage the attainment of the SDGs and national policies and programs.

Another Philippine-based entity, SM Investments Corporation, was also one of the nominees in the corporate initiatives category.

ISAR is an Intergovernmental Working Group of Experts established in 1982 which reviews developments in the field of international reporting and promotes best practices for corporate governance. With UNCTAD serving as Secretariat, it launched the ISAR Honours in 2018, to coincide with its annual meetings held in Geneva, Switzerland. END

For more information, visit https://www.genevapm.dfa.gov.ph or https://www.facebook.com/PHinGenevaUN/.