SyCipLaw has just published the SyCipLaw ESG Bulletin, which covers the latest issuances from the Securities and Exchange Commission (SEC) from January to June 2023. These include the SEC’s issuance of the following Memorandum Circulars (MC):
• MC No. 11, Series of 2022, which outlines the Rules on Sustainable and Responsible Investment Funds (SRI Funds) in recognition of the global trend and growth of SRIs in recent years.
• MC No. 3, Series of 2023, which contains the Guidelines on the Issuance of Sustainability-Linked Bonds (SLBs) under the ASEAN Sustainability-Linked Bond Standards (ASEAN SLBS) in the Philippines. The SLB Guidelines align with the ASEAN SLBS and the International Capital Market Association Sustainability-Linked Bond Principles (ICMA SLBP).
• MC No. 4, Series of 2023, which adopts the ASEAN Sustainable and Responsible Fund Standards (ASEAN SRFS) and establishes rules to implement it in the Philippines.
The bulletin also includes an article related to the SEC’s plans to adopt the Philippines' Blue Bond Framework to promote the use of capital markets in achieving the United Nations Sustainable Development Goals (UN SDGs) and targets under the Paris Agreement to reduce greenhouse gas emissions, a link to the latest Chambers ExpertFocus podcast featuring partner Jose Florante M. Pamfilo and special counsel Catherina M. Fernandez, and an article highlighting SyCipLaw’s latest involvement in an ESG project.
The preparation of the bulletin was assisted by SyCipLaw’s ESG and Sustainability practice group members, including Vicente D. Gerochi IV, Jose Florante M. Pamfilo, Catherina M. Fernandez, Julia Patricia C. Herrera-Lim, John Stephen B. Pangilinan, Agatha M. Apolinario, Julia Inez M. Blando, John Dominic P. Censon, Christian Michael A. Perreras, and Erickson C. Mariñas.
Read the SyCipLaw ESG Bulletin here or via this link.
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