CHM - ORTNational Target
General
Philippines
PBSAP Target 15: Sustainable Production and Supply Chains
ENBy 2040, business and financial entities have adopted Environmental, Social, and Governance (ESG) Framework with biodiversity elements and regularly report/disclose risks, dependencies and impacts on biodiversity
To achieve the national target some actions are necessary:
Amendments to Securities and Exchange Commission (SEC) Regulations:
- Introduce SEC regulations requiring publicly listed companies (PLCs) to report climate and biodiversity risks following the Task Force on Nature Disclosure (TFND) Framework.
- Adapt new International Sustainability Standards Board (ISSB) reporting standards at the sector level to enhance sustainability reporting, including biodiversity-related disclosures.
Enhanced Sustainability Reporting Requirements:
- Strengthen SEC guidelines for sustainability reporting by PLCs to include pollution and other environmental impacts, aligning with international best practices and standards.
- Encourage PLCs to disclose their biodiversity-related risks, dependencies, and impacts transparently in their sustainability reports, integrating a biodiversity lens into their Environmental, Social, and Governance (ESG) Framework.
Capacity Building and Awareness Programs:
- Conduct capacity-building programs and workshops for PLCs to enhance their understanding of biodiversity-related risks and the importance of biodiversity conservation in business operations.
- Raise awareness among PLCs about the benefits of integrating biodiversity considerations into their ESG practices and reporting frameworks.
Promotion of Programmatic Environmental Impact Assessment (PEIA) or Biodiversity-sensitive Environmental Assessment (BDSEA):
- Amend Presidential Decree 586 or the Philippine Environmental Impact Statement System (PEISS) to facilitate the adoption of Programmatic EIA or BDSEA, ensuring that biodiversity considerations are systematically integrated into project planning and decision-making processes.
Support for Extractive Industries Transparency Initiative (EITI) Compliance:
- Encourage and incentivize extractive industries to comply with the Extractive Industries Transparency Initiative (EITI) standards, promoting transparency and accountability in revenue management and resource governance.
Nature Risk Mapping and Monitoring:
- Produce map layers showing nature risk classification and integrate them into the National Mapping and Resource Information Authority (NAMRIA) mapping portal to facilitate the identification and monitoring of biodiversity-related risks to assets.
Stakeholder Engagement and Collaboration:
- Foster collaboration among government agencies, industry stakeholders, civil society organizations, and academia to develop and implement strategies for mainstreaming biodiversity considerations into business practices and reporting mechanisms.
By implementing these policy measures and actions, the Philippine government aims to effectively address biodiversity-related risks and negative impacts, promote sustainable patterns of production, and contribute to the achievement of Target 15.
Alignment
GBF-G-C. Benefits from the use of genetic resources are shared and substantially increased
| Global Targets | Degree of Alignment |
GBF-T15. Businesses assess and disclose biodiversity dependencies, impacts and risks, and reduce negative impacts GBF-T15. Businesses assess and disclose biodiversity dependencies, impacts and risks, and reduce negative impactsTake legal, administrative or policy measures to encourage and enable business, and in particular to ensure that large and transnational companies and financial institutions:
(a) Regularly monitor, assess, and transparently disclose their risks, dependencies and impacts on biodiversity, including with requirements for all large as well as transnational companies and financial institutions along their operations, supply and value chains and portfolios;
(b) Provide information needed to consumers to promote sustainable consumption patterns;
(c) Report on compliance with access and benefit-sharing regulations and measures, as applicable;
in order to progressively reduce negative impacts on biodiversity, increase positive impacts, reduce biodiversity-related risks to business and financial institutions, and promote actions to ensure sustainable patterns of production. | Medium |
To achieve the national target some actions are necessary:
Amendments to Securities and Exchange Commission (SEC) Regulations:
- Introduce SEC regulations requiring publicly listed companies (PLCs) to report climate and biodiversity risks following the Task Force on Nature Disclosure (TFND) Framework.
- Adapt new International Sustainability Standards Board (ISSB) reporting standards at the sector level to enhance sustainability reporting, including biodiversity-related disclosures.
Enhanced Sustainability Reporting Requirements:
- Strengthen SEC guidelines for sustainability reporting by PLCs to include pollution and other environmental impacts, aligning with international best practices and standards.
- Encourage PLCs to disclose their biodiversity-related risks, dependencies, and impacts transparently in their sustainability reports, integrating a biodiversity lens into their Environmental, Social, and Governance (ESG) Framework.
Capacity Building and Awareness Programs:
- Conduct capacity-building programs and workshops for PLCs to enhance their understanding of biodiversity-related risks and the importance of biodiversity conservation in business operations.
- Raise awareness among PLCs about the benefits of integrating biodiversity considerations into their ESG practices and reporting frameworks.
Promotion of Programmatic Environmental Impact Assessment (PEIA) or Biodiversity-sensitive Environmental Assessment (BDSEA):
- Amend Presidential Decree 586 or the Philippine Environmental Impact Statement System (PEISS) to facilitate the adoption of Programmatic EIA or BDSEA, ensuring that biodiversity considerations are systematically integrated into project planning and decision-making processes.
Support for Extractive Industries Transparency Initiative (EITI) Compliance:
- Encourage and incentivize extractive industries to comply with the Extractive Industries Transparency Initiative (EITI) standards, promoting transparency and accountability in revenue management and resource governance.
Nature Risk Mapping and Monitoring:
- Produce map layers showing nature risk classification and integrate them into the National Mapping and Resource Information Authority (NAMRIA) mapping portal to facilitate the identification and monitoring of biodiversity-related risks to assets.
Stakeholder Engagement and Collaboration:
- Foster collaboration among government agencies, industry stakeholders, civil society organizations, and academia to develop and implement strategies for mainstreaming biodiversity considerations into business practices and reporting mechanisms.
By implementing these policy measures and actions, the Philippine government aims to effectively address biodiversity-related risks and negative impacts, promote sustainable patterns of production, and contribute to the achievement of Target 15.
Indicators to be used to monitor this national target
15.1 Number of companies disclosing their biodiversity-related risks, dependencies and impacts
C.1 Monetary benefits received in accordance with applicable internationally agreed access and benefit-sharing instruments
C.2 Non-monetary benefits arising from applicable international access and benefit-sharing instruments
13.b Number of countries that have taken effective legal, policy, administrative and capacity-building measures at all levels, as appropriate, to ensure the fair and equitable sharing of benefits from the utilization of genetic resources and from digital sequence information on genetic resources, as well as traditional knowledge associated with genetic resources
15.b Number of countries with legal, administrative or policy measures aimed at encouraging and enabling business and financial institutions, and in particular for large and transnational companies and financial institutions, to progressively reduce their negative impacts on biodiversity, increase their positive impacts, reduce their biodiversity-related risks and promote actions to ensure sustainable patterns of production
a. Number of publicly-listed companies and government financial and non-financial institutions compliant with Environmental, Social, and Governance (ESG) framework and guidelines
ENb. Number of policies on nature-related and agri-based risks disclosures developed and adopted
ENc. Number of development projects compliant with established risk disclosure guidelines, biodiversity standards, and safeguards
ENNon-State actor commitments
- Wildlife Conservation Society
- Gaia Exploration Club