The Securities and Exchange Commission (SEC) said it is accelerating efforts to foster a sustainable capital market and business sector with the launch of Sustainable Enterprise Collaboration Network (eSECnature).
The SEC said in a statement Monday that eSECnature would deepen corporate engagement of government bodies, multilateral organizations and civil society in sustainability, accelerate progress towards the United Nations’ Sustainable Development Goals (SDGs) and promote ethical business practices.
It said that through eSECnature, members would collaborate on knowledge-sharing, advocate for policy initiatives and integrate sustainable practices into their operations. The network also supports digitalization and paperless initiatives to reduce carbon footprints across sectors.
SEC chairperson Emilio Aquino emphasized the network’s role in developing best practices and fostering a sustainable economy. He highlighted the potential economic benefits of adopting environmental, social and governance (ESG) standards, attracting investments that drive growth.
The SEC has prioritized sustainability through digital transformation since 2020, enhancing operational efficiency with platforms like eSPARC, OneSEC, eFAST, eSPAYSEC, eSECURE, eSEARCH, eRAMP and SEC Check App 2.0. These initiatives significantly reduced the SEC’s carbon footprint and paper usage.
The SEC said it planned to launch five new digital initiatives to further streamline stakeholder transactions, aligning with their sustainability goals.
These efforts are integral to the SEC’s mandate to promote corporate governance and sustainability among the sectors it regulates, it said.
It has introduced guidelines for sustainability reporting, sustainable investment funds and sustainability-linked bonds to encourage responsible financial practices.
It also embarked on environmental initiatives like SECFoRest, aiming to plant thousands of trees in key watersheds.
