Philippine Stock Exchange

Country
Philippines
Number of listed companies
266
Domestic market capitalization
290,339 million US$
SSE Partner Exchange

Yes

Has annual sustainability report

Yes

ESG reporting required as a listing rule

Yes

  • In 2019 the Philippines SEC launched a guidance on sustainability reporting and announced a penalty for an "Incomplete Annual Report" for all those companies that do not submit sustainability information together with their annual report on a comply or explain basis.  SEC Announcement: http://www.sec.gov.ph/wp-content/uploads/2019/02/2019MCNo4-1.pdf
Has written guidance on ESG reporting

Yes

  • The Philippines Securities and Exchange Commission announced in 2019 the requirement of sustainability reporting on a comply or explain basis for all listed companies, together with the publication of a guidance. The guidance is intended to help listed companies assess and manage non-financial performance across economic, environmental and social aspects of their organization and enable listed companies to measure and monitor their contributions towards achieving universal targets of sustainability, such as the UN's Sustainable Development Goals as well as national policies and programs, such as AmBisyon Natin 2040. The announcement and guidance document can be found here.
  • The sock exchange also offers guidance on corporate governance:
    Code of Corporate Governance launched in November 2016, drawing from the G20/OECD Principles of Corporate Governance and the ASEAN Corporate Governance Scorecard
Offers ESG related training

Yes

  • June 2019: The Philippine Stock Exchange, Inc. (PSE) and the Securities and Exchange Commission (SEC) with support from the Australian DFAT and the GRI held four workshops on sustainable business and reporting on 7, 10, 14 and 17 of June. The workshops were broken into four clusters: consumer and retail industry, financial, oil and mining, and infrastructure.
  • 12 April 2019: SEC-PSE Conference: Building a Sustainable Business Community, organized by The Philippine Stock Exchange, Inc. (PSE) and the Securities and Exchange Commission (SEC) with support from the Australian DFAT and the GRI. Attendees: Publicly Listed Companies
  • 23 October 2018 - 5th annual Corporate Governance Forum "Ushering in the Era of Sustainability and Sustainable Business". Held by the Securities and Exchange Comimssion (SEC) and the Philippine Stock Exchange (PSE).
Market covered by sustainability-related index

No

Has sustainability bond listing segment

No

Has SME listing platform

Yes

  • SME Board, since 2001
Additional information
  • Celebrates the biennial “PSE Bell Awards for Corporate Governance,” recognizing listed companies adhering to the highest standards of corporate governance (Annual Report 2017, pages 42-43)
Organizational model of stock exchange

Limited Exchange Self-Regulatory Organization (SRO) Model.

  • Regulates listed companies through its Listing and Disclosure Rules, and Trading Participants (securities brokers) through its Revised Trading Rules and Rules Governing Trading Rights and Trading Participants and through its independent surveillance, investigation and audit arm, Capital Markets Integrity Corporation (CMIC), which enforces the CMIC Rules.
Regulatory model
Limited Exchange Self-Regulatory Organization (SRO) Model .
  • Regulates listed companies through its Listing and Disclosure Rules, and trading participants (securities brokers) through its Rules Governing Trading Rights and Trading Participants and through its surveillance and audit arm Capital Markets Integrity Corporation (CMIC) and CMIC Rules.
About the stock exchange
Location: Makati City, Philippines.
  • More about the PSE here.
Ownership of Exchange (Shares >4% only) Share
San Miguel Corporation Retirement Plan 10.3%
Premier Capital Venture Corp 9.1%
Banco de Oro for PLDT Retirement Fund 9.1%
Government Service Insurance System 9.1%