Komunidad, SEC launch SuRe Platform

Filipino Publicly-Listed Companies (PLCs) will now have a reliable platform for the submission of mandatory sustainability reports to regulatory body Securities and Exchange Commission (SEC).

On November 28, Komunidad with the SEC launched Sustainability Reporting (SuRe) platform that will help the commission to collect, manage, and verify sustainability data submitted by PLCs. The launch was held as part of the 11^th Annual SEC-Philippine Stock Exchange (PSE) Corporate Governance Forum themed “Sustainalympics: Corporate Governance and Sustainability through Sustainability Champions.”

During the Sustainalympics forum, attendees participated in deep dive discussions of “Pivoting Board Strategies on Climate Resiliency” and “Key Regulatory Updates on Corporate Governance and Sustainability.” Part of the discussion on “SEC Pathway to Sustainability Reporting Disclosures” is identifying priority areas for sustainability reporting implementation that are: Networking and feedback; framework interoperability; consistent disclosure format; digitization for sustainability; and sustainability value chain.

SuRe platform will help PLCs and the regulatory body on implementing consistent disclosure format as the form features sustainability performance metrics.

 The platform is seen to standardize sustainability reporting in the country and create a more accountable business environment and a future-proof Philippines, as we contribute to the fulfillment of global sustainability goals.

Komunidad Chief Product Officer Jed Llanes shared key features of SuRe platform at the forum, where the company also put up a booth at the event that will allow attendees to explore the platform.

Komunidad designed the SuRe platform to be intuitive for the PLCs that will rely on the platform to fulfill the mandated submission of sustainability reports. To make sure that the platform will address the needs of SEC stakeholders, Komunidad conducted workshops that helped assess the commission’s existing processes and identify areas of improvement. This will also ensure the smooth transition into the new platform from the existing operations of SEC.

SuRe platform also has features that will allow SEC to accommodate future changes in reporting requirements.

SEC Commission Karlo S. Bello earlier said: “Komunidad’s contribution in providing innovative solutions via online submission platform is in line with SEC’s initiative to streamline the data capture and management of sustainability reports and simplify the process in the submission of the SuRe form.”