MANILA, PHILIPPINES — A new environmental, social, and governance (ESG) intelligence report, produced by global publishing, research, and consultancy firm Oxford Business Group (OBG) in partnership with the professional services firm Reyes Tacandong & Co. maps out efforts underway in the Philippines to facilitate long-term growth that is inclusive, sustainable, and balanced.
The report provides an in-depth analysis of emergent openings for investors to create in-country value added, as the Philippines looks to unlock ESG-related benefits under President Ferdinand ‘Bongbong’ Marcos Jr – aligned with both the UN Sustainable Development Goals (SDGs) and the objectives of the current national roadmap, AmBisyon Natin 2040.
It focuses on three key areas — digital transformation, agri-business, and construction — that have been identified as ripe for development, in an easy-to-navigate and accessible format, supported by key data and infographics.
With the pandemic accelerating digital transformation and prompting reforms in Philippine regulations, the report evaluates standout growth opportunities presented by increased digitalization and incumbent challenges including barriers to digital lending.
In separate coverage, the report highlights the socio-economic importance of agriculture as a provider of both food security and income for provincial communities. It considers the steps that could help to bolster agricultural resilience – including strengthening supply chains, widening access to finance, and accelerating technological implementation – over the years to come.
With the impact of climate change a pressing concern for the Philippines, especially its agri-business segment, the report also explores the green development opportunities emerging across the industry and in other sectors of the economy.
The publication evaluates the importance of construction for social development and economic productivity and inherent ESG-related challenges. These include the socio-economic significance of infrastructure development, affordable housing, and sustainable urban planning, and risks such as industry working conditions and exposure to corruption.
The report charts the strides made by Reyes Tacandong & Co. on its ESG journey, which includes providing clients with solutions that facilitate sustainable business growth and contribute to the well-being of society and the environment.
It also includes an interview with Protacio Tacandong, the firm’s COO, in which he explores a wide range of topics, including the steps taken by both the public and private sectors to accelerate ESG progress in some instances, collaboratively.
“The country has been working to adopt a regulatory system where administrative requests can be completed fully online,” he said. “Philippine businesses continue to contribute proactively to enhanced social and environmental standards, in some cases in partnership with the government. The private sector, in partnership with the government, is committed to cleaning up Manila Bay which will boost tourism in the area. These ESG-related initiatives reduce costs in the long run and generate employment opportunities.”
Jade Currie, OBG’s regional editor for Asia, said the ESG-related growth opportunities emerging across key areas of the Philippines’ economy would bring long-term socio-economic benefits to more of the population and also support climate sustainability.
“While there will inevitably be challenges during the implementation process, the Philippines has shown its commitment to ESG and the UN SDGs by increasingly prioritizing these for sustainable growth and development,” she said. “Our report shows that there is growing recognition across both the public and private sectors that ESG adoption has a key part to play in risk mitigation and facilitating progress towards shared goals.”
This ESG intelligence report on the Philippines forms part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including a range of Future Readiness reports, country-specific Growth, and Recovery Outlook articles and interviews.
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