Tagaytay City, 19 June 2025 — The Securities and Exchange Commission (SEC), in partnership with the United Nations Development Programme (UNDP), successfully launched the Small and Medium Industries and Large Enterprises Embracing Sustainability (SEC SMILEES) Roadshow in Tagaytay City. This initiative aims to promote sustainability reporting practices among small, medium, and large enterprises (SMLEs), empowering businesses across the Philippines to integrate sustainability into their operations. The roadshow gathered business leaders, representatives from local medium, small, and micro enterprises, local government representatives, and sustainability experts. 

The Government of Canada supports the SEC SMILEES Roadshow through the UNDP’s Accelerating Green and Climate Finance Project. This initiative is part of the SEC’s nationwide effort to foster a more inclusive and robust sustainability reporting culture, reaching enterprises beyond publicly listed companies to include the vital yet often overlooked non-listed businesses that form the backbone of the Philippine economy.

The SEC SMILEES Roadshow aims to raise awareness on the importance of sustainability reporting among SMLEs, while building their capacity to measure, monitor, and disclose their environmental, social, and governance (ESG) impacts. It promotes the use of globally recognized tools and frameworks, including alignment with the Global Reporting Initiative (GRI) standards and the International Financial Reporting Standards (IFRS) on sustainability. 

In his welcome message, SEC Commissioner Rogelio V. Quevedo shared the Commission’s vision of digitizing operations while advancing sustainability leadership in the Philippines and beyond. He emphasized that sustainability and profitability are “mutually reinforcing,” highlighting that sustainable practices protect the environment, support communities, and strengthen long-term business success. 

Commissioner Quevedo highlighted that: “by promoting sustainability, we ensure these enterprises remain competitive and responsible stewards of our natural resources and social capital. This aligns with the SEC’s broader mandate under MC No. 4, Series of 2019, which requires sustainability reporting for publicly listed companies, and now extends to encourage all enterprises to embrace Environmental, Social, and Governance (ESG) principles.”

Mr. Edwine Carrie, UNDP Deputy Resident Representative, underscored the significance of private sector involvement in advancing sustainability goals. “By integrating sustainability into your core business strategies, you are not only helping to protect the environment and uplift communities but also ensuring that your business remains competitive and resilient in a world shaped by climate change, digital transformation, and evolving social expectations,” said Carrie. “Our collective efforts through the SEC SMILEES Roadshow are key to building a future where economic growth goes hand in hand with environmental stewardship and social inclusion.”

The event featured presentations on the Philippine sustainability reporting landscape, nature-based solutions, and local government sustainability initiatives. A panel of private sector leaders shared experiences on how sustainability practices create long-term value, enhance competitiveness, and strengthen stakeholder trust. 

Tagaytay City, known for its tourism, agriculture, and real estate sectors, provided a fitting backdrop for the roadshow. The city’s experience in balancing economic development with environmental and social considerations mirrors the challenges and opportunities faced by enterprises nationwide as they transition to more sustainable practices.

The roadshow has been conducted in Cebu, Davao, and Baguio, and has received international recognition in the 2024 Honours during the 41st session of the ISAR, or the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting, a body established by the United Nations Conference on Trade and Development (UNCTAD). The ISAR Honours aims to raise awareness and facilitate dissemination of national and international best practices on sustainability and SDG reporting as an integral part of annual reporting by companies. [E]