MTCC NEWS 2/21

By Mr. Jason JS Lee
| MEMBER’S CORNER Continued from page 28
5. Philippines: Philippine Stock Exchange
• In 2019 the Philippines SEC launched a guidance on
sustainability reporting and announced a penalty for
an “Incomplete Annual Report” for all those companies
that do not submit sustainability information together
with their annual report on a comply or explain basis.
• 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.
6. Singapore: Singapore Exchange
• Sustainability reporting is introduced on a “comply or
explain” basis.
• Guide to Sustainability Reporting for Listed Companies.
• Sustainability reporting portal on SGX website containing
resources relating to sustainability reporting,
including materials contributed by sustainability consultants,
information on sustainability workshops and
global reporting frameworks.
• An Investor’s Guide to Reading Sustainability
Repots.
7. Thailand: Stock Exchange of Thailand
• The Securities and Exchange Commission mandates
sustainability reporting. Refer to SEC’s Sustainability
Development Road Map for Listed Companies,
May 2014.
• Guidelines for Sustainability Reporting released in
2010.
• Apart from the publications, SET has produced
newsletter ‘SD Focus’ as key communication channels
between the Exchange and listed companies, to keep
them abreast with the up-and-coming sustainability-related
trends in the global business world.
• In addition, a series of guidance documents and
manuals can be found on SET’s Social Responsibility
Center and Corporate Governance Center.
• In January 2021, Thailand SEC (Securities and
Exchange Commission) has announced it has
become an official supporter of the TCFD (Task Force
on Climate-Related Financial Disclosures). The SEC
says it wants to raise awareness and encourage businesses
to incorporate climate-related risks into their
strategic planning and risk management, and follow
international disclosure guidelines.
This will enhance the Thai capital market’s capacity
for contributing to sustainable development in accordance
with Thailand’s 20-year strategy, and the move
towards the UN SDGs, the SEC said.
8. Viet Nam – Hanoi Stock Exchange (Parent Organization)
• HNX published Guidance on ESG Disclosure for
listed companies in 2016 in accordance with sustainability
reporting requirements by Circular
155/2015/TT-BTC dated October 6, 2015 on guidelines
for information disclosure on securities market.
9. Viet Nam – Ho Chi Minh Stock Exchange (Subsidiary
Organization)
• Circular 155/2015/TT-BTC (dated 06/10/2015) on
guidelines for information disclosure on securities
market.
• The SSC, in cooperation with the IFC, published an
Environmental and Social Disclosure Guide in 2016.
As the sustainability and ESG agenda becomes more
and more mainstream in Asia, business executives
and investment professionals continue to recognize
that ESG issues affect companies’ performances,
compliance to different rules and regulations, and
‘license to operate’.
And as expectations and scrutiny from governments,
regulators, investors, consumers, employees and
other stakeholders continue to grow, taking action in
ESG and Sustainability areas may very well help
Asian companies navigate the rising pressure from
stakeholders and distinguish themselves from less
sustainable competitors.
Mr. Jason JS Lee
Jason JS Lee is a Certified Sustainability Profession
al who specializes in helping companies achieve
their ESG/Sustainability goals and performances in
accordance with GRI, TCFD, GHG Protocols, UNGC,
and UN-SDG standards and frameworks. He is an
active consultant for medium- and listed-companies
for their strategic ESG/Sustainability management
and reporting, and Industry 4.0 Transformation
road-mapping and implementation. He has
just relocated to Thailand, and is a member of the
Malaysia Thai Chamber of Commerce.
29 MTCC NEWS July 2021