PH leads expert discussion on sustainability reporting

The Philippines, represented by Commissioner Rogelio Quevedo of the Securities and Exchange Commission, chaired the 42nd Session of the Intergovernmental Group of Experts on International Standards of Accounting and Reporting (ISAR) that took place in Geneva from Nov. 11 to Nov. 14.

ISAR is an intergovernmental working group dedicated to assisting member states to improve the quality and international comparability of financial reporting and nonfinancial disclosure, such as environmental issues, corporate governance and corporate social responsibility.

The session focused on the review of developments in the harmonization of sustainability reporting requirements and their practical implementation and also delved into the integration of the topics of biodiversity and human capital considerations into sustainability reporting.

Quevedo moderated all panel sessions and delivered a presentation at the high-level panel of the meeting. His presentation focused on the Philippines’ sustainability reporting roadmap, which prioritizes disclosures on climate-related risks.

He also shared that recent disclosures included policies, commitments and targets in biodiversity protection, as well as disclosures on human rights and labor practices.

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Quevedo previously led the Office of the Government Corporate Counsel, the principal legal office for all government-owned or controlled corporations and their subsidiaries. He has also been a professor in commercial and civil law at the University of the Philippines College of Law and a supervising lawyer at the latter’s Office of Legal Aid.

The Philippine delegation was composed of representatives from the Permanent Mission of the Republic of the Philippines to the UN Office and other international organizations in Geneva and the Governance Commission for Government-Owned or Controlled Organizations.