THE Securities and Exchange Commission (SEC) has completed the Philippines’ priority economic deliverables for sustainable and resilient Asean capital markets, advancing regional initiatives on sustainable finance, corporate governance and cross-border regulatory cooperation.
The SEC said the deliverables were completed under the Philippines’ 2026 chairship of the Asean Capital Markets Forum (ACMF), with key outputs approved at the 45th ACMF Chairs’ Meeting on Oct. 21 and presented at an international conference in Manila the following day.
Among the completed initiatives was the Asean Code of Conduct for External Review Providers, which establishes common standards for entities assessing sustainable finance instruments.
The framework seeks to improve consistency in assessments, reduce verification costs for Asean-labeled thematic bonds and strengthen investor confidence.
The SEC also advanced the mitigation co-benefit and Adaptation for Resilience (mARs) Guide, which provides a methodology for identifying investments that support climate change adaptation and resilience.
The ACMF and the Asean Taxonomy Board on Oct. 22 launched the guide’s first version, which is intended to help investors and financial institutions assess adaptation-related activities and direct financing toward climate resilience.
On corporate governance, the SEC facilitated the onboarding and readiness assessment of Cambodia and Laos for potential participation in the Asean Corporate Governance Scorecard initiative, which assesses corporate governance practices among publicly listed companies in the region.
The commission also supported the establishment of the Asean Knowledge Network of Supervisory and Enforcement Directors to strengthen information exchange and cooperation among regulators in addressing cross-border market misconduct.
Beyond the priority deliverables, the SEC also helped complete other regional initiatives, including a compendium of sustainable finance products, recommendations for developing voluntary carbon markets, the Asia GX Transition Planning Handbook and Annual Report, and studies on Islamic capital markets and sharia screening.
Other outputs included a handbook for depositary receipt issuance and a roadmap for cross-listings among Asean markets, aimed at supporting regional investment and market connectivity.
The SEC also supported the launch of the ACMF Office, hosted by the Asian Development Bank in Manila, to provide institutional support for the forum and sustain regional cooperation beyond individual chairships.
The Philippines’ chairship this year comes as Asean regulators implement the ACMF Action Plan 2026 to 2030, which outlines regional priorities for sustainable finance, regulatory cooperation, market integration and investor participation.
The Monetary Authority of Singapore is set to assume the ACMF chairship next year.
Separately, the SEC said the Asean Carbon Markets Development and Harmonization Forum, scheduled on Nov. 10, would bring together financial institutions and climate stakeholders to discuss ways to mobilize private capital for climate action.
