Preliminary gaps, priorities and recommendations identified to strengthen the Philippines’ sustainability reporting ecosystem
The United Nations Conference on Trade and Development (UNCTAD), in collaboration with the Securities and Exchange Commission of the Philippines (SEC), organized a National Consultative Workshop on strengthening the Philippines’ sustainability reporting infrastructure. The workshop was held in a virtual format from 14 to 15 September 2026, in the context of the United Nations Development Account project on “Strengthening sustainability reporting to foster sustainable finance and investment in selected developing countries in Asia and Latin America.”
The workshop brought together more than 25 participants from national regulators, accounting and auditing professions, academia and industry associations and provided an opportunity to review and validate the findings of the national assessment of the Philippines financial and sustainability reporting infrastructure, conducted using UNCTAD’s Accounting Development Tool (ADT).
The discussions highlighted the importance of strengthening regulatory and institutional capacity together with the adoption of international sustainability reporting standards in the Philippines. Participants identified challenges related to sustainability data infrastructure, compliance and monitoring functions, cross-agency coordination and MSME-focused capability, among other.
The workshop also demonstrated a strong commitment of the Philippines to advancing corporate transparency through a structured sustainability reporting framework for the private sector. To establish sustainability reporting guidelines for publicly listed companies, the SEC issued the Memorandum Circular No. 4, Series of 2019. This framework was further strengthened through Memorandum Circular No. 16, Series of 2025, which adopted PFRS S1 and PFRS S2 and established a phased pathway towards sustainability-related financial disclosures aligned with international standards.
The national expert presented the Philippines’ sustainability reporting status update drawn from the assessment findings. UNCTAD shared updates on the international sustainability reporting ecosystem, introduced tools to support national implementation, including the Accounting Development Tool, guidance on core indicators for sustainability and SDG impact reporting, and the Policy Guide.
Participants took active part in validating assessment findings and providing valuable feedback to support the development of public policy recommendations and a national sustainability reporting action plan, including actions, goals, timelines and responsible institutions, over the following two months.
The workshop also identified upcoming complementary capacity-building activities, including a Workshop on Sustainable Finance and Institutional Investors. In addition, the Philippines’ experience and lessons learned will contribute to the regional workshop with the Asian Regional Partnership being held on the 25 September 2026.
