Sustainability key to resilient economy, says SEC commissioner

THE SECURITIES and Exchange Commission (SEC) is advocating for broader adoption of sustainable practices among businesses in the Philippines.

“The sustainability landscape is continually evolving, and with it, so are the expectations placed upon businesses,” SEC Commissioner Javey Paul D. Francisco said during his keynote speech at a forum in Quezon City on Wednesday.

“By integrating sustainable practices into your core strategies, you not only safeguard the future of your organizations, but also contribute to building a resilient and inclusive economy for all Filipinos,” he added.

Mr. Francisco said the SEC is aiming to further push sustainable projects and activities in the country, as well as to make the Philippines a leader in sustainable capital market development in the region.

“Through our policies, we are not only empowering individuals, but also strengthening the very foundation of our economy. True sustainability encompasses both environmental and social dimensions, and only by addressing these together can we create resilient and inclusive societies,” he said.

“It is up to us as leaders in the corporate sector, to work towards the universal sustainable agenda and to lead by example for others to follow,” he added.

Meanwhile, the United States Agency for International Development Investing in Sustainability and Partnerships for Inclusive Growth and Regenerative Ecosystems project (USAID INSPIRE) and the Institute of Corporate Directors (ICD) have strengthened the fight against climate change and its impacts by sounding a call to action to address environmental degradation.

The two groups also pushed for inclusive development through shared initiatives as well as increased accountability in sustainability reporting.

These happened as USAID INSPIRE and ICD held the Sustainability Nexus: Inspiring Ideas for a Sustainable Philippines forum in Quezon City on Wednesday. The forum discussed the status of environmental governance in the country; shared best practices of sustainability models belonging to the private sector and civil society organizations; and explored opportunities for cooperation.

“We need to work harder, better, and faster. There are six years left until 2030 and only 17% of global development goals are on track. We are facing threats to our natural ecosystems, our businesses, our way of life,” INSPIRE Project Chief of Party Rebecca R. Paz said.

“Let us use this opportunity to decide how we can work together and make a truly meaningful impact,” she added. — Revin Mikhael D. Ochave