Sustainability-linked bond issuances surged over 600 percent in the first 11 months of 2024 from a year ago to reach P209.29 billion, the Securities and Exchange Commission (SEC) said Monday.
This brought the value of outstanding ASEAN-labeled Green, Social and Sustainability-linked bonds issued as of end-November to P661.6 billion, representing a 46.27-percent growth from the same period last year, the SEC said in a statement.
Aside from sustainability-linked bonds, SEC also approved the country’s first blue bond offering by Maynilad Water Services Inc.
The bond offering was issued under SEC’s recently issued guidelines, proceeds of which will be used to fund eligible blue activities such as sustainable wastewater management, and projects for the improvement and reform of marine ecosystems, among others.
The SEC also reported that it achieved its goal of bringing the total number of companies that raised fresh funds through the public offering of securities and crowdfunding to 888.
It vowed to continue implementing policies and reforms in 2025 that will further boost the capital market, strengthen the corporate sector, and support the country’s overall economic growth.
“Looking back, the SEC has been relentless in its efforts to improve its services through digitalization and implementation of reforms that seek to create a conducive environment that will encourage businesses to incorporate and tap the capital market,” SEC chairman Emilio Aquino said.
“We are leaving 2024 with much needed changes implemented to enhance the business sector. As we embark on our 89th year, we will remain steadfast in transforming the capital market to support the growth of a sound and dynamic economy,” he said.
The SEC earlier launched five new digital platforms under the third wave of its digital initiatives to further ease its processes and doing business in the Philippines.
It also intensified its investor protection and education.
The SEC issued 106 advisories against companies engaged in unauthorized and illegal investment-taking activities and schemes as of end October.
It also stopped the operations of those involved in fraudulent activities with the issuance of 18 cease and desist orders against 42 entities, and revocation orders against 24 groups.
The SEC also filed criminal complaints against 68 individuals with the Department of Justice for violating Republic Act No. 8799, or the Securities Regulation Code, and Republic Act No. 11765, or the Financial Products and Services Consumer Protection Act, to ensure that they will be penalized accordingly for their illegal activities.
