THE SECURITIES and Alternate Fee (SEC) will develop a web-based app to handle the sustainability studies submitted by publicly listed firms.
The company regulator will work with local weather knowledge and analytics software program agency Komunidad International Providers & Operations Philippines, Inc. to create the SEC Sustainability Reporting (SuRe) Framework app, it mentioned in an e-mailed assertion on Thursday.
“The custom-made internet software will streamline the information assortment, verification, administration, and evaluation of sustainability knowledge, bettering the monitoring capabilities of the fee on sustainability reporting compliance of publicly listed firms,” it added.
Below the memorandum of settlement signed by the events on Oct. 16, Komunidad will give the SEC the license to make use of the app. The SEC and Komunidad will even implement an information sharing deal to make sure safety protocols, and to find out the scope and circulate of information.
“Komunidad’s contribution in offering progressive options through on-line submission platform is in step with the SEC’s initiative to streamline the information seize and administration of sustainability studies and simplify the method within the submission of the SuRe kind,” SEC Commissioner Karlo S. Bello mentioned.
“With Komunidad’s technical experience, we’re assured that we are going to obtain our frequent purpose of embracing industrial developments whereas gearing in the direction of a greener capital market and sustainable future,” he added.
In the meantime, the SEC mentioned it’s engaged on revisions to the SuRe kind to offer the overall metrics for disclosure which can be relevant to listed firms.
The SuRe kind template has three sections consisting of sustainability and climate-related alternatives and threat exposures, cross-industry customary, and industry-specific metrics.
The SuRe kind goals to enhance the standard of sustainability reporting and make sure the consistency of nonfinancial info submitted by listed firms. — Revin Mikhael D. Ochave
