Sustainability and

Strategic Audit
Topic: Sustainability Reporting in
Philippine Setting
Code: SSA 01
SEC
It is the government agency who
encourages the corporate sector
to integrate sustainability in their
business practices, as it formally
launched the Sustainability
Reporting Guidelines for Publicly
Listed Companies (PLCs)
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 "With the issuance of the Sustainability
Reporting Guidelines, your SEC has
high hopes that PLCs would not only be
made aware of sustainability but would
make it a part of their priorities,"

EMILIO AQUINO
SEC Chairperson

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"Companies have the inherent
responsibility to take care of human,
social and environmental capitals,”

RAMON S. MONZON
PSE President

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SEC’s Vision (2020-2023) – ST GOALS
Make SR relevant and value-adding for PLCs

Help PLCs manage EESG risks and opportunities

Help PLCs optimize business operations

Provide mechanisms for PLCs to communicate

Monitor contributions
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SEC’s Vision – LT GOALS
Adopt a mandatory approach to SR for PLCs

Require all corporations to submit SR

Adopt a mandatory approach to SR for all

corporations

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SEC’s Action Plan
1. Creation of a Technical Working Group
2. Strict Monitoring of SR Submissions

3. Strict Imposition of Penalty for Non-Submission of SR

4. SR Workshops Conducted by the SEC 5. Issuance of
SEC Memorandum Circulars

5. Coordination with Different Market Groups on

Sustainability Reporting
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Benefits of Sustainability Reporting
1. Internal Benefits
2. External Benefits

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Internal Benefits
1. Effective management of sustainability risks and
opportunities

2. Sustainable Vision, Strategy and Business Plans

3. Improved management systems
4. Motivated workforce

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External Benefits
1. Investor attractiveness
2. Improved company reputation and brand value

3. Stakeholder Engagement
4. Competitive Advantage

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 Role?
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Accountants do in business:
1. IDENTIFY AND CONNECT trends and impacts
that are important to the organization and the
connection to the organization’s strategy, business
model, and performance.

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Accountants do in business:
2. INTEGRATE significant natural and social capital
issues into management information used to formulate
strategies, plans, and targets, and investment decisions.

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Accountants do in business:
3. ASSESS the benefits of responding to
environmental and social matters

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Accountants do in business:
4. ORGANIZE systems, processes, and people to
support decision making and ensure that what matters
gets measured and managed.

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Accountants do in business:
5. LINK TO VALUE CREATION to ensure resources
are used effectively in creating value for shareholders,
customers, and other stakeholders.

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Accountants do in business:
6. DRIVE EFFICIENCY through reducing waste and
lowering costs.

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Accountants do in business:
7. PROVIDE CREDIBILITY to data and information
through effective governance and oversight.

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Accountants do in business:
8. COMMUNICATE clearly to facilitate transparency
through stakeholder communications and disclosures
supported by appropriate reporting frameworks, such as
integrated reporting.

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Thank you!
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