Philippine Securities and Exchange Commission completes ASEAN capital market priorities, including sustainable finance review standards

The Philippine Securities and Exchange Commission (SEC) reported completing its priority capital market deliverables under the Philippines’ 2026 chairship of the Association of Southeast Asian Nations (ASEAN), covering sustainable finance, corporate governance and regulatory cooperation. The ASEAN Code of Conduct for External Review Providers establishes common standards for providers assessing sustainable finance products. Greater consistency and recognition across the region are intended to reduce verification costs for thematic bonds carrying ASEAN labels and build local review capacity. The Mitigation Co-benefit and Adaptation for Resilience Guide provides a methodology based on principles for assessing climate adaptation investments. Previewed earlier in 2026, the guide was developed to link adaptation financing to measurable resilience outcomes. On corporate governance, the SEC facilitated onboarding and readiness assessments for Cambodia and Laos for potential participation in the ASEAN Corporate Governance Scorecard initiative. The ASEAN Knowledge Network of Supervisory and Enforcement Directors, launched in March, provides channels for regulatory cooperation and information exchange to address market misconduct across borders. Broader outputs include a depositary receipt issuance handbook and a roadmap for ASEAN cross-listings. An ASEAN Capital Markets Forum office hosted by the Asian Development Bank in Manila was also launched to support continuity and knowledge sharing beyond individual chairships. The ASEAN Carbon Markets Development and Harmonization Forum, scheduled for November 10, will bring together financial sector and climate stakeholders to explore approaches to mobilizing private capital for climate action.