The Philippines Securities and Exchange Commission has proposed transferring responsibility for evaluating applications and granting the Philippine Green Equity Label to the Philippine Stock Exchange. The revised guidelines would align administration of the label with international exchange based approaches, streamline assessments and reduce duplication between the regulator and the exchange. The Philippine Stock Exchange would also establish a formal accreditation mechanism for external reviewers that assess listed companies against green equity criteria and would monitor those providers. The proposal would extend the transition period for alignment with the Philippine Sustainable Finance Taxonomy Guidelines or the ASEAN Taxonomy for Sustainable Finance from Sept. 23, 2026, to year-end. Penalties would not apply during this period, although applicants would still need to disclose how covered green activities substantially contribute to at least one environmental objective under either taxonomy. Full alignment with the applicable taxonomy requirements would become mandatory from fiscal year 2027 for the initial grant, retention or renewal of the Philippine Green Equity Label.
Philippines Securities and Exchange Commission launches consultation on transferring Green Equity Label administration to the Philippine Stock Exchange
The Philippines Securities and Exchange Commission has proposed transferring administration of the Philippine Green Equity Label to the Philippine Stock Exchange, including oversight of external reviewers. The transition period for taxonomy alignment would run until year-end without penalties, while full alignment would become mandatory from fiscal year 2027.