The Securities and Exchange Commission (SEC) envisions a greener, low-carbon and sustainable economy by fostering collaboration between corporations and public and private sector stakeholders. This commitment is underscored by the recent launch of the Sustainable Enterprise Collaboration Network (eSECnature).
eSECnature aims to connect corporations, government organizations, multilateral institutions and civil society organizations to bolster corporate participation in sustainability initiatives and accelerate the Philippines’ progress towards the UN Sustainable Development Goals (SDGs).
“Through this network, we aim to unite organizations in both the public and private sectors to collaborate in developing best practices, new ideas, and successful strategies toward our vision of a sustainable capital market and business sector,” said SEC chairperson Emilio Aquino.
Aquino emphasized the significant impact of sustainable practices on capital markets and the broader economy. “We believe that the adoption of sustainable practices will have a significant impact in improving the state of our capital markets and, more importantly, the economy. As we see more companies comply with ESG standards, we can look forward to the entry of more investments into the country that can further drive our economic growth,” he said.
The network will facilitate knowledge sharing, policy advocacy, and collaborative efforts to integrate and adopt sustainable operational practices. Key focus areas include promoting ethical and responsible business conduct, reducing carbon footprints, and supporting the government’s digitalization, zero-contact, and paperless initiatives.
The eSECnature campaign itself emphasizes digital enablement to minimize the corporate sector’s environmental impact.
The SEC’s commitment to sustainability is further evidenced by recent initiatives. Last year, the SEC issued guidelines for sustainability-linked bonds, incorporating ASEAN Sustainability-linked Bond Standards. This has spurred a dramatic increase in ASEAN-labeled Green, Social and Sustainability and Sustainability-Linked (GSS+) bonds issued by Philippine companies, surging by 602.32 percent to reach P209.29 billion from January to November 2024.
The SEC also approved the country’s first blue bond offering, the proceeds of which will finance eligible blue activities such as sustainable wastewater management and marine ecosystem improvement projects.
Beyond financial instruments, the SEC is also taking direct action with the launch of SECFoRest. This outlines the agency’s plan to plant over 16,000 trees across a 10-hectare area in the Angat River Watershed in Norzagaray, Bulacan, demonstrating a holistic approach to environmental sustainability.