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Friday, March 29, 2024

SEC receives good governance award

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The Securities and Exchange Commission bagged this year’s Global Good Governance Advocacy and Commitment to Corporate Governance Award for its effort to champion best practices in the country’s corporate sector.

The award was given by London-based Cambridge International Financial Advisory during the 6th 3G Annual Awards Ceremony held virtually on Tuesday.

“This recognition affirms the SEC Philippines’s resolve not only in creating a good corporate governance climate in the country but also in promoting sustainable business practices and stakeholder centricity among its corporate constituencies. We have been and shall remain to be a champion and purveyor of good corporate governance and sustainability,” SEC Chairman Emilio B. Aquino said.

The country’s corporate regulator advanced corporate governance reforms through the adoption of corporate governance codes, sustainability reporting guidelines and similar rules. It also conducts forums and dialogues with stakeholders to discuss corporate governance issues within and outside the country.

Founded in 2016, the 3G Awards recognizes individuals and institutions that treat governance and sustainability as a strategic priority. It has since presented over 150 awards to various individuals and institutions in more than 25 countries.

Winners are determined based on 5 pillars—transparency, social responsibility, sustainability, impact, and innovation. These are chosen from 3 major categories—government and politics, corporate sector, social sector and philanthropy.

The SEC also participates in global development initiatives as a member of international organizations such as the International Organization of Securities Commissions, Asean Capital Markets Forum, the Global Financial Innovation Network, and the International Forum of Independent Audit Regulators, among others.

Prior to the 3G Awards, the SEC also received the ISAR Honours from the United Nations Conference on Trade and Development in 2019 for instituting sustainability reporting in the corporate sector.

Read full article on BusinessMirror

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