Philippines Philippines Proposes Sustainability Reporting Standards for Banks

Draft Rules Set Phased Adoption of PFRS S1, S2

Philippines Proposes Sustainability Reporting Standards for Banks

On May 15, 2026, the Bangko Sentral ng Pilipinas (BSP) published the Explanatory Note on the Proposed Guidelines on the Adoption of the Philippine Financial Reporting Standards S1 and S2 on Sustainability-related Disclosures. The explanatory note includes a draft proposal outlining guidelines for the adoption of Philippine Financial Reporting Standards (PFRS) S1 and S2 by large financial institutions beginning with fiscal years from 2026 onward. The proposal also includes amendments to Section 153 of the Manual of Regulations for Banks (MORB).

 

Author / Responsibility

ONO Kanami

Consultant, EnviX Ltd.

Business Performance

Researcher specializing in Southeast Asia, particularly the Philippines and Singapore.

Background

Bachelor of International Relations, University of Shizuoka

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