The Financial and Sustainability Reporting Standards Council (FSRSC) established the Philippine Sustainability Reporting Committee (PSRC) on October 21, 2022, to evaluate the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards for local use and to issue local interpretation and guidance.
Objectives
The main objectives of the PSRC are:
- To issue implementation guidance on Philippine sustainability disclosure standards adopted by the Financial and Sustainability Reporting Standards Council (FSRSC) from the sustainability disclosure pronouncements duly issued by the International Sustainability Standards Board (ISSB);
- To comment on exposure drafts of proposed sustainability disclosure standards issued by the ISSB and other documents that may be issued for comment by the FSRSC; and
- To comment on exposure drafts of sustainability disclosure standards or proposed regulations with sustainability reporting relevance that may be issued by financial sector regulators and other relevant government agencies or stakeholders, such as the Securities and Exchange Commission, Bangko Sentral ng Pilipinas, Insurance Commission, Commission on Audit, and the Philippine Stock Exchange.
Members
The PSRC consists of seventeen (17) members who are endorsed to and approved by the FSRSC. The following are the members.
MR. BENJAMIN N. VILLACORTE Chair
Accounting Firms
Partner, Assurance
Financial Accounting Advisory Services and Climate Change and Sustainability Services
SGV & Co.
MR. IGNACIO CARMELO O. SISON Vice Chair
Business and Industry Associations
Representative
Financial Executives Institute of the Philippines
MS. CATHERINE H. LIPANA-GOMEZ Member
Accounting Firms
ESG Partner, Deals and Corporate Finance
Isla Lipana & Co.
MS. JENNY ISABEL B. MENES Member
Accounting Firms
Audit and Assurance Partner
Navarro Amper & Co.
MR. CHRISTOPHER FERAREZA Member
Accounting Firms
Partner, Advisory Services
Punongbayan & Araullo
MR. ARVIN LEMUEL A. YANGA Member
Accounting Firms
Partner, Technical Advisory Group
Department of Professional Practice
R.G. Manabat & Co.
DR. GLORIA T. BAYSA Member
Government and Regulatory Bodies
Member
Board of Accountancy
ATTY. RACHEL ESTHER J. GUMTANG-REMALANTE Member
Government and Regulatory Bodies
Director, Corporate Governance and Finance Department
Securities and Exchange Commission
MS. RHODORA M. BRAZIL-DE VERA Member
Government and Regulatory Bodies
Deputy Director, Supervisory Policy and Research Department
Bangko Sentral ng Pilipinas
MS. MA. THERESA B. FERREROS Member
Government and Regulatory Bodies
Officer-in-Charge, Accounting Systems Development and Other Services Office
Commission on Audit
ATTY. CAROL KAY V. PAQUERA Member
Government and Regulatory Bodies
(Pending)
Climate Change Commission
ATTY. ROEL A. REFRAN Member
Government and Regulatory Bodies
Chief Operating Officer
Philippine Stock Exchange
MR. LUCKY ACE P. VILLANUEVA Member
Government and Regulatory Bodies
Supervisory Insurance Specialist – HMO Division
Insurance Commission
ATTY. CESAR L. VILLANUEVA Member
Business and Industry Associations
Representative
Management Association of the Philippines
MR. JOEL RYAN E. TUGADE Member
Business and Industry Associations
Chairman, Committee on the UN Sustainable Development Goals
Philippine Chamber of Commerce and Industry
DR. ARNEL ONESIMO O. UY Member
Academe
Full Professor of Accountancy
De La Salle University
DR. PATRICIA M. EMPLEO Member
Academe
Dean and Professor, College of Accountancy
University of Santo Tomas
