SEC gets good governance awards 

The Securities and Exchange Commission (SEC) has secured its sixth and seventh Global Good Governance (3G) awards from Cambridge International Finance Advisory.

The SEC received the 3G Best Corporate Governance Policy and Disclosure Award and the 3G Transparency Award 2024 during the 9th Annual Awards Ceremony held in Taguig early this week.

The 3G Best Corporate Governance Policy and Disclosure Award recognizes an organization for its commitment to transparency, clarity and comprehensive disclosure of information toward fostering trust and accountability among stakeholders.

The 3G Transparency Award, which was also awarded to the SEC last year, recognizes organizations for setting a benchmark for integrity, accountability, ethical conduct, and disclosure in governance practices, thereby fostering trust, credibility and openness in their operations.

“These awards affirm the commission’s steadfast dedication in fostering transparency, integrity, and social responsibility toward the overall development of the Philippine business and economic landscape,” SEC Chairman Emilio B. Aquino said.

The SEC received the 3G Advocacy and Commitment to Corporate Governance three years in a row, from 2021 to 2023. In 2022, it was also conferred with the 3G Transparency Award, followed by the 3G Championship Award in ESG Practices in 2023. 

Founded in 2016, Cambridge IFA has since presented over 150 3G awards in more than 35 categories to various individuals and institutions in more than 25 countries.

The SEC received an unqualified opinion for its financial statements from the Commission on Audit. The Presidential Communications Office also recognized the SEC for its promotion of the public’s right to know, being one of the top performing agencies in the implementation of the Freedom of Information Program in 2023.

As part of efforts to promote good corporate governance, the SEC has been implementing sustainability initiatives in the corporate sector. Earlier this year, it launched the Small and Medium Industries and Large Enterprises Embracing Sustainability (SMILEES) Roadshow in Cebu, with the goal of institutionalizing sustainability reporting among companies of all sizes.

The agency is currently updating its rules on sustainability reporting with the pending release of the new SEC Sustainability Reporting Form, which seeks to incorporate international developments to better guide publicly listed companies in their compliance with sustainability reporting guidelines.