UN SDG in the Philippines
Sustainability reporting in the Philippines is becoming increasingly important as businesses and organizations seek to improve their environmental, social, and governance (ESG) performance. The country has made progress in promoting sustainable practices, and several initiatives are in place to encourage companies to disclose their sustainability efforts.
The Securities and Exchange Commission (SEC) issued a memorandum circular in 2020 requiring all publicly listed companies to submit an annual sustainability report starting in 2021. The report should cover the company’s sustainability strategy, policies, practices, and performance in relation to ESG issues.
The Philippine Stock Exchange (PSE) has also launched the Sustainability Disclosure Platform (SDP), which provides a venue for companies to disclose their sustainability-related information. The SDP aims to increase transparency and accountability in reporting, and to provide investors with relevant information to make informed decisions.
In addition, several organizations in the Philippines have developed their sustainability reporting frameworks, such as the Global Reporting Initiative (GRI) and the Sustainability Reporting Standards for Philippine Business (SRSPB) developed by the Philippine Business for Social Progress (PBSP).
Overall, sustainability reporting is gaining momentum in the Philippines, and businesses and organizations are recognizing the importance of incorporating sustainability into their operations and disclosing their efforts to stakeholders.
Sustainable Development Goals Philippines
The Sustainable Development Goals (SDGs) are a set of 17 global goals adopted by the United Nations in 2015 to address the world’s most pressing social, economic, and environmental challenges. The Philippines has committed to achieving these goals and has made progress in implementing them.
Here are the Sustainable Development Goals and their status in the Philippines:
- No Poverty – The Philippines has reduced poverty incidence from 23.5% in 2015 to 16.6% in 2018.
- Zero Hunger – The country has improved food security through initiatives such as the Rice Tariffication Law and the National Food Policy.
- Good Health and Well-being – The Philippines has achieved significant progress in reducing maternal and child mortality rates, but there are still challenges in providing access to quality healthcare services to all.
- Quality Education – The country has made progress in providing access to education, but there are still challenges in ensuring the quality of education and reducing the number of out-of-school children.
- Gender Equality – The Philippines has made progress in promoting gender equality and women’s empowerment, but more efforts are needed to address gender-based violence and discrimination.
- Clean Water and Sanitation – The country has made progress in increasing access to clean water and sanitation, but there are still challenges in ensuring sustainable management of water resources.
- Affordable and Clean Energy – The Philippines has increased its renewable energy capacity and is working towards achieving its goal of 35% renewable energy by 2030.
- Decent Work and Economic Growth – The country has made progress in creating jobs and promoting inclusive economic growth, but more efforts are needed to address decent work and social protection.
- Industry, Innovation and Infrastructure – The Philippines is investing in infrastructure development and promoting innovation, but there are still challenges in providing access to basic infrastructure in remote areas.
- Reduced Inequalities – The Philippines is working towards reducing income inequality and social disparities, but there are still challenges in addressing marginalization and discrimination.
- Sustainable Cities and Communities – The country is working towards sustainable urban development and improving access to basic services in urban areas.
- Responsible Consumption and Production – The Philippines is promoting sustainable production and consumption practices, but more efforts are needed to reduce waste and promote circular economy.
- Climate Action – The country is highly vulnerable to climate change impacts and has committed to reducing greenhouse gas emissions and increasing resilience to climate change.
- Life Below Water – The Philippines is working towards sustainable marine conservation and management, but more efforts are needed to address overfishing and marine pollution.
- Life on Land – The country is working towards sustainable forest management and biodiversity conservation, but more efforts are needed to address deforestation and illegal wildlife trade.
- Peace, Justice and Strong Institutions – The Philippines is working towards promoting peace, justice and strong institutions, but more efforts are needed to address human rights abuses and promote transparency and accountability.
- Partnerships for the Goals – The Philippines recognizes the importance of partnerships in achieving the SDGs and is working towards strengthening multi-stakeholder collaboration at national and local levels.