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NamePhilippine Stock Exchange
CountryPhilippines
Number of listed companies288
Domestic market capitalization259,770 million US$
SSE Partner ExchangeYes
Has annual sustainability reportYes
ESG reporting required as a listing ruleYes
  • ESG reporting is not a general requirement for initial and additional listing, but compliance with ESG reporting constitutes a continuing listing requirement for listed companies in the Exchange.
  • In 2019 the Philippines SEC launched a guidance on sustainability reporting and announced a penalty for an Incomplete Annual Report provided under SEC Memorandum Circular No. 6, Series of 2005 (Consolidated Scale of Fines). The guidance on Sustainability Reporting for Publicly-Listed Companies can be found here
Has written guidance on ESG reportingYes
  • 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: through the Code of Corporate Governance of 2016 (SEC Memorandum Circular No. 19, Series of 2016). This Code is based on the G20/OECD Principles of Corporate Governance and the ASEAN Corporate Governance Scorecard.

Offers ESG related trainingYes
2022

  • PSE collaborated with Maybank Investment Banking Group (MIBG) for the online webinar entitled ASEAN ESG Alpha and the Role of PSE in the ESG Narrative ESG in the Philippines has been gaining traction with both corporates and investors. The PSE partnered with MIBG to bring a spotlight on whether ESG is driving performance of stocks in the ASEAN-6 countries, to what extent, and through which sectors. The event also covered the role of PSE in the ESG narrative and the use of ESG as an important investment tool in todays evolving business and social landscape.
  • SEC and PSE Collaborated to Create a Platform for Sustainability Discussions. The theme of the 9th SEC-PSE Corporate Governance Forum was Safe Spaces: Fortifying Corporate Governance and Sustainability in the Philippines. (source)
  • PSE collaborated with the Climate Change Commission for the Climate Investment Forum 2022: Turning Climate Commitments to Action. The event served as a platform for government leaders to present their national targets on mitigation and adaptation, identify financing requirements, and enjoin stakeholders from the private sector to invest on the countrys priorities on climate action. Other event partners included the Department of Finance, Securities and
    Exchange Commission, United Nations Development Programme, and World Bank Group.
  • Climate Disclosure Training Program for PLCs. The PSE, in partnership with the United Nations Sustainable Stock Exchange, International Finance Corporation and the Carbon Disclosure Project, conducted a training program for publicly listed companies. This training program is a CPD-certified course and was offered free of charge. The objective was to facilitate a multi-stakeholder dialogue on TCFD disclosure and provide an understanding of the importance of climate-related disclosure. (source)

2021

  • SEC and PSE Collaborated to Create a Platform for Sustainability Discussions. The theme of the 8th SEC-PSE Corporate Governance Forum was Corporate Governance and Sustainability for the Next Normal.
  • Capacity Building Seminar for PLCs in Partnership w/ AIM. PSE conducted a training for PLCs in partnership with the Asian Institute of Management Ramon V. Del Rosario, Sr. Center for Corporate Responsibility entitled Inclusion of Gender in Sustainability Reporting of Publicly-Listed Companies and other Private Companies to promote and raise awareness on gender inclusion and equality. (source)

2020

  • SEC and PSE Collaborated to Create a Platform for Sustainability Discussions. The theme of the 7th SEC-PSE Corporate Governance Forum was Business Resiliency and Innovation in a New Normal Era.

2019

  • SEC and PSE Collaborated to Create a Platform for Sustainability Discussions. The theme of the 6th SEC-PSE Corporate Governance Forum was Sustainable Businesses: Taking the Lead in Achieving Sustainable Development Goals.
  • SEC-PSE Sustainability Writing Workshop PSE and SEC, in partnership with the Australias Department of Foreign Affairs and Trade (DFAT) through the Global Reporting Initiative (GRI), conducted a workshop series on Sustainable Business and Reporting. (source)

2018

  • SEC and PSE Collaborated to Create a Platform for Sustainability Discussions. The 5th SEC-PSE CG Forum became the first sustainability-themed CG forum. The SEC and the PSE annually hosts the Corporate Governance Forum, to provide a platform for the government and the private sector to discuss relevant trends and updates in corporate governance and sustainability. (source)

See the full list of ESG milestones here

Market covered by sustainability-related indexNo
Has sustainability bond listing segmentNo
Has SME listing platformYes

Women on boards mandatory minimum ruleNo
Additional information
  • The Philippine Stock Exchange, Inc. recognizes its pivotal role in driving sustainability in the capital market. As a self-regulatory organization and as a listed company, we are committed to furthering the advancement of sustainable
    finance and developing short, medium, and long term projects to champion corporate sustainability and boost multi-stakeholder relations. The ESG Milestones of PSE can be found here.
  • Bell Ringing for Gender Equality PSE annually participates in the worldwide UN-initiated event Ring the Bell for
    Gender Equality. The Ring the Bell for Gender Equality program is organized by the World Federation of Exchanges, Sustainable Stock Exchanges Initiative, UN Global Compact, UN Women, and International Finance Corporation. This annual event continues to this day. (source)

Organizational model of stock exchangeLimited 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 bodies

Regulatory modelLimited 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 exchangeLocation: PSE Tower, 5th Avenue corner 28th Street, Bonifacio Global City, Taguig City, 1634 Philippines

Website Links:
https://www.pse.com.ph/
https://corporate.pse.com.ph/