Philippine SEC Starts Mandatory Reporting on Sustainability

On December 23, 2025, the Philippine Securities and Exchange Commission (SEC) issued Memorandum Circular (MC) No. 16, Series of 2025: Adoption of Philippine Financial Reporting Standards (PFRS) on Sustainability Disclosures and Issuance of Reporting Guidelines for Publicly Listed Companies and Large Non-Listed Entities. The circular establishes mandatory preparation and submission requirements for sustainability reports by publicly listed companies and large non-listed enterprises.