The Philippine Securities and Exchange Commission has published draft revisions to its Philippine Green Equity Guidelines, expanding the governance, review and disclosure framework for the label introduced in 2025. The proposal retains the central eligibility tests: more than 50% of a company’s revenue and investments must relate to green activities, fossil fuel revenue must remain below 5%, and the relevant activities must align with the Philippine or ASEAN sustainable finance taxonomy. Companies would need an independent external assessment and annual public disclosures supporting continued compliance. An authorized exchange would process applications, grant and monitor labels, maintain a public registry, accredit external reviewers and suspend or cancel labels when requirements are no longer met, subject to SEC oversight. Full taxonomy alignment would not be mandatory through the end of 2026, although covered activities would need to contribute substantially to at least one environmental objective and avoid known significant harm or material noncompliance with minimum social safeguards. Full alignment would become mandatory from fiscal 2027 for the grant, retention or renewal of the label.
Philippine Securities and Exchange Commission consults on revised Green Equity label rules retaining above 50% green thresholds
The Philippine Securities and Exchange Commission is consulting on revised rules for its Green Equity label while retaining the above 50% green revenue and investment thresholds and below 5% fossil fuel revenue limit. The proposal strengthens external review, annual disclosure and exchange oversight, with full taxonomy alignment mandatory from fiscal 2027.