Manila puts sustainability reporting on the filing deadline

Posted on January 11, 2026 by Editor

Philippine companies have been told, politely but firmly, that sustainability reporting is no longer a nice to have. In December, the Philippine Securities and Exchange Commission adopted Philippine Financial Reporting Standards (PFRS) S1 and PFRS S2 and approved Sustainability Reporting Guidelines, plus a phased roadmap for publicly listed companies and large non listed entities.

The message is procedural as much as principled: sustainability reporting is now tied to the same filing discipline as financial statements. Listed companies must attach a Sustainability Report to the annual report, large non listed entities submit alongside audited accounts, and boards are on the hook to review and approve before anything is published. We read that as a clear push for accountability and, crucially, for better quality control.

The rollout is tiered by size, starting with the largest listed firms for financial years beginning in 2026 and stepping down through 2027 and 2028. The SEC has also chosen pragmatism over purity, allowing transition reliefs such as a climate first focus early on, delayed Scope 3, and time to add comparatives, plus limited assurance on Scope 1 and 2 emissions later.

We covered the Philippines' consultation draft earlier, and this circular is the conversion of intent into rules. For the digital reporting community, the next question is whether these disclosures become consistently structured so they can be compared and analysed at scale, not merely read.

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