The Securities and Exchange Commission (SEC) is looking to require publicly listed companies to submit their sustainability report (SR) in two formats – the SR Narrative, and Sustainability Report (SuRe) Form.
The SEC said the SuRe Form “aims to elevate the quality of sustainability reporting and ensure the consistency of non-financial information submitted” by listed companies.
For the SR Narrative, listed companies shall submit a narrative report, which will be submitted in conjunction with the company’s annual report, the SEC said.
Publicly-listed companies will be required to submit their duly answered SuRe Form through the SEC Electronic Filing and Submission Tool. Its template comprises three major sections, namely Sustainability and Climate-related Opportunities and Risks Exposures; Cross-Industry Standard Metrics; and Industry-Specific Metrics (ISM),” the SEC said.
Separate guidelines for ISM, which largely considered the existing Philippine Standard Industrial Classification, will be released at a later time, the SEC said.
