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SGV Climate Change and Sustainability Services (CCaSS) Directors Diana Sadili-Chu and Ricardo “Ricky” S. Maulion, Jr. were resource speakers at a PICPA Eastern Metro Manila Chapter (EMMC) webinar on Sustainability and Integrated Reporting: Leading beyond the Numbers on 10 February 2023.Ricky (top left) and Diana (second from top left) with the webinar organizers and participantsDiana talked about creating long-term value through sustainability and the practice of sustainability reporting and assurance. She emphasized that, as responsible organizations, companies need to disclose their commitment to and focus on long-term value creation to their stakeholders, and that sustainability reporting is an effective tool to achieve this objective. Meanwhile, Ricky’s discussion focused on global developments and the regulatory landscape of sustainability reporting and how accountants can lead on sustainability and climate action. He highlighted that globally, organizations and countries are moving toward the same direction in terms of sustainability reporting, which is the mandatory reporting of key metrics. He underscored that the webinar participants, as accountants, play a critical role in sustainability and climate action, particularly on the integration of the accounting and finance function with non-financial reporting processes and controls based on their experience and knowledge of leading practices.

SGV Tax Senior Manager Atty. Karen Calam-Ibañez was a speaker at the 2023 European Honorary Consuls' Meeting organized by the European Chamber of Commerce of the Philippines (ECCP) Visayas Chapters on 30 January 2023 at Citadines Cebu City. 30 honorary consuls, key government officials, and representatives from different foreign embassies and business associations attended the meeting. Atty. Karen talks about relevant business and regulatory matters Atty. Karen discussed the business and regulatory landscape in the Philippines from a legal perspective. Other speakers discussed topics covering recent political and economic developments in the Philippines and in ASEAN, as well as the policies and advocacies of the business community between Europe and the Philippines. In addition, the Honorary Consuls for Visayas gave an update to the Heads of Missions on the present business environment and how the Philippines compares to its ASEAN counterparts. Atty. Karen (fourth from left) with the other speakers Other speakers were Senior Economist at ING Bank Philippines Nicholas Antonio Mapa, ECCP Board Member Jochen Bitzer, Minister Counsellor and Head of the Economic and Trade Sector Delegation of the European Union to the Philippines Philipp Dupuis, Honorary Consul for Visayas and Mindanao, Consular Office of Switzerland Mathias Bergundthal, Honorary Consul of the British Consulate in Cebu City Tamsin Monahan Booth, and ECCP Executive Director Florian Gottein. They talked about the 2023 Philippine Economic Outlook, Business Outlook & ECCP 2023, the EU-Philippines Trade and Investment Strategies & Recent Political Developments, updates on the European Free Trade Association (EFTA)-Philippines Free Trade Agreement (FTA) and economic partnership, updates on the UK-Philippine economic ties, and the EU-ASEAN Business Sentiment - Business Outlook for 2023, respectively. Honorary Consuls Mark Frondoso from the Czech Republic, Alexander Hey from Sweden, Enrison Benedicto from Belgium, and Vice Consul Joan Young-Tiu from Norway were also present.

SGV Assurance Senior Managers Alvin Regaspi Lagrimas and Leomar G. Velez and Assurance Senior Associate Lois Dane R. Fernandez received individual awards in the Inclusiveness & Teaming category at the 1st Asia-Pacific Financial Services Organization (FSO) Assurance Recognition Program on 16 January 2023. The members of the SGV Global Bank Audit Team, namely Assurance Senior Managers Von Zierwin M. Villanueva and Angelica Joyce D. Tan and Assurance Associate Nestor Pabalinas Tulang received the team award for the Innovation category at the same event. Inclusiveness & Teaming category individual award winners Alvin, Leomar, and Lois Innovation category team award winners Von, Joyce, and Nestor of the SGV Global Bank Audit Team Alvin, Leomar, and Lois received the Inclusiveness & Teaming category award for leading and positively impacting their teams’ experiences and the working environment with inclusive and teaming behaviors. Meanwhile, the SGV Global Bank Audit Team composed of Von, Joyce, and Nestor received the Innovation category award for transforming and innovating the way the Firm delivers services to its global bank audit clients. Know more about their stories and how their contributions have made an impact with both their clients and within SGV here.  Congratulations to our winners!

Forty-five SGV CPAs, including former leaders, alumni, and current SGV Chairman and Managing Partner Wilson P. Tan, are among the country’s 100 Certified Public Accountants (CPAs) who will be conferred the Accountancy Centenary Award of Excellence by the Professional Regulation Commission’s Board of Accountancy (BOA) in celebration of 100 years of the accountancy profession in the Philippines.  The Centenary awardees are Filipino CPAs who have demonstrated unquestionable integrity, contributed immensely to the advancement of the accountancy profession, and participated remarkably in national development. Forty-eight of the awards will be conferred posthumously, while 52 will be given during the conferment ceremonies on 17 March 2023 at the Manila Hotel. SGV recognizes the awardees’ extraordinary accomplishments and commitment to the profession, which have greatly advanced the practice of accountancy in the Philippines.  The former and current SGV awardees are: Founders Washington SyCipAlfredo M. Velayo Chairs and Managing Partners Roberto V. OngpinRizalino S. NavarroGloria Tan ClimacoCarlos R. AlindadaCesar Antonio V. PurisimaDavid L. BalangueCirilo P. NoelJ. Carlitos G. CruzWilson P. Tan Alumni Partners Guillermo N. CaragueEduardo B. De GuiaBaltazar N. EndrigaAurora T. GarciaAntonieta Fortuna IbeJaime C. LayaRoberto G. ManabatMario T. Mananghaya Leonardo J. Matignas, Jr.Benjamin R. PunongbayanEugenio R. ReyesJose T. SioProtacio T. TacandongJoel L. Tan-TorresEduardo M. Villanueva Alumni Pio D. BacongaJaime J. BautistaRosario S. BernaldoMa. Elenita B. CabreraLeonardo D. Cuaresma, Jr.Corazon S. Dela Paz-BernardoLuis C. DiazKim Jacinto-HenaresJeffrey C. Lim Roque A. LimEugene T. MateoDr. Rufo R. MendozaGregorio S. NavarroRaul C. PagdangananJune Cheryl C. RevillaAlicia LL. ReyesNestor V. TanMa. Violeta V. VicenteManuel B. Villar, Jr.   SGV also proudly honors exceptional alumni who served as past members of the BOA and who have been bestowed Recognition Awards by the current BOA for acting as “Guardians of the Profession Through the Years.”  These awardees are:  Alumni Partners  Gerard B. SanvictoresBetty C. Siy-Yap Alumni Eliseo A. AurelladoVioleta J. JosefWinefreda O. MadarangCarmelita G. SalgadoLucila C. Tarriela Congratulations to our outstanding CPAs!

SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner and Philippine Sustainability Reporting Committee (PSRC) Chairman Benjamin N. Villacorte (BNV) led the 1st regular PSRC meeting on 20 January 2023 at the Washington SyCip Development Center, SGV I Building in Makati City. PSRC members pose for a group photo Benjamin and the PSRC members discussed updates from the International Sustainability Standards Board (ISSB) and Global Reporting Initiative (GRI) and reviewed the PSRC’s operating procedures as well as its members’ proposed activities for the year. The meeting also clarified the role of PSRC as an enabler of opportunities and solutions to advance sustainable development in the country. Benjamin was assisted by CCaSS Managers Ricky S. Maulion and Diana A. Sadili-Chu.  The PSRC is composed of members from accounting firms, regulatory agencies, academic institutions, and business associations. They provide technical assistance to the Philippine Financial and Sustainability Reporting Standards Council (FSRSC) in the adoption and issuance of sustainability reporting guidelines and standards in the Philippines. The election and induction of PSRC members in December 2022 was facilitated by SGV Chairman and Managing Partner and FSRSC Chairman Wilson P. Tan (WPT). The formation of the PSRC was approved by the FSRSC to complement the Securities and Exchange Commission’s (SEC’s) efforts in mainstreaming Economic, Environmental, Social and Governance (EESG) disclosures among publicly listed companies (PLCs). 

SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco (KFF) and SGV Business Consulting Partner Conrad Allan M. Alviz (CMA) participated in the 9th Annual Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE) Corporate Governance Forum: Fortifying Corporate Governance and Sustainability in the Philippines on 25 November 2022 via Zoom. Katrina and Conrad with the other panelists Conrad served as the moderator while Katrina was a panelist for the topic on securing the corporate governance space. Katrina answered questions on the non-financial performance of companies.  “The investing public has become more concerned on the environmental impact of companies throughout their operations, including their supply/value chain. Unfortunately, with the rising clamor for sustainability and sustainable business practices comes the unscrupulous practice of greenwashing. This has triggered the need for third-party assurance for sustainability reporting,” Katrina said.

SGV was the official tabulator at the Ternocon 3 final competition held at the new Cultural Center of the Philippines (CCP) Black Box Theater or Tanghalang Ignacio Gimenez (TIG) on 28 January 2023.  The SGV tabulating team with the Ternocon 3 judges (from left to right) Ternocon 3 Artistic Director Gino Gonzales, Designers Ivarluski Aseron and Philip Rodriguez, Ormoc City Mayor Lucy Torres-Gomez, Bench/Suyen Corporation Chairman and CEO Ben Chan, and designer Lesley Mobo Market Group (MG) 2 Assurance Partner Belinda T. Beng Hui (BTB) led the SGV team in the independent tabulation of scores cast by the judges. Assurance Senior Director Carmi H. Paigma and Assurance Senior Associates Lara Jamillah G. Noble and Lara Mae S. Evalla were part of the tabulating team. The competition was open to practicing Filipino designers or fashion design students. A total of 12 finalists were selected from over 40 applicants from all over the Philippines. Ternocon aims to encourage the use of the terno/balintawak as a popular form of dress; to inspire and motivate emerging designers to create ternos that are at par with the construction skills of professional designers; to encourage dialogue and scholarly discussion of issues concerning the Philippine dress; and to sustain the growing awareness and interest in the Philippine dress.  Ternocon 3 was inspired by the success of the first two Ternocon events in November 2018 and January 2020. The event was a joint effort of the CCP through its Cultural Exchange Department (CED) and Bench/Suyen Corporation to pursue its mission of preserving and promoting the Philippine dress. 

SGV was among the organizations recognized by the Securities and Exchange Commission (SEC) for supporting the Commission's strategic initiative in pursuit of sustainability and corporate governance. SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco (KFF) received the award on behalf of the Firm on 29 November 2022 during the 86th SEC Anniversary and Recognition Ceremony held at the SEC Headquarters in Makati City. Katrina receives plaque of recognition on behalf of SGV Plaque of recognition from SEC The plaque of recognition presented to SGV acknowledges the Firm’s invaluable support for the SEC to be the premier investor champion and catalyst of deep, broad, and inclusive capital markets and a more empowered business sector.

SGV Climate Change and Sustainability Services (CCaSS) Director Ricardo “Ricky” S. Maulion, Jr. was one of the panelists at the “Panel Discussion for the Research Project: Are city climate plans adequate for mitigating weather extremes? An investigation of Southeast Asian cities” organized by the Disaster Risk Management Unit of the Philippine School of Business Administration - Manila, the University of the Philippines School of Urban and Regional Planning (UP SURP), and the Planning and Development Research Foundation, Inc. (PLANADES) on 25 January 2023 at the Cariño Hall, UP School of Urban and Regional Planning, Diliman, Quezon City. Ricky talks about mitigating climate change Ricky talked about the importance of accurate, verifiable, and comparable data to track the country’s progress against its Nationally Determined Contributions (NDCs). He said that as the main driver of economic growth and transformation, the private sector plays a critical role in achieving the government’s objectives. To support this statement, he discussed the Securities and Exchange Commission’s Memorandum Circular No. 4, Series of 2019 or the Sustainability Reporting Guidelines for Publicly Listed Companies, as well as Circulars 1085 (Sustainable Finance Framework) and 1128 (Environmental and Social Risk Management Framework) released by the Bangko Sentral ng Pilipinas (BSP). Ricky receives a token of appreciation as panelist Ricky also briefly touched on SGV’s own Sustainable Actions for Value Creation and Enablement (SAVE) Council and the recently formed Philippine Sustainability Reporting Committee (PSRC) chaired by SGV Financial Accounting Advisory Services (FAAS) and CCaSS Partner Benjamin N. Villacorte (BNV). Ricky poses with his co-panelists and guests for a group photo after the panel discussion The panel discussion aimed to draw the panelists’ insights on climate change variations, their impact, and whether city climate plans are adequate for mitigating extreme weather events. The discussion also served as a venue to communicate policy practice gaps and discuss their extent with the objective of identifying barriers to and drivers of more effective urban climate change policies. The panel discussion was conducted by a consortium of academic institutions comprising Curtin University (Australia), Murdoch University (Australia), the Asian Institute of Technology (Thailand), the Philippine School of Business Administration (Philippines), the National Research and Innovation Agency (Indonesia), and the University of Technology Malaysia. 

Strategy and Transactions (SaT) Senior Manager Lester Jeff D. Pawid is now a fully-fledged Chartered Financial Analyst (CFA) Charterholder. Lester received confirmation from the CFA Institute on 31 January 2023 that after completing the CFA Program, he has now met the work experience requirements for the CFA designation. SaT Senior Manager Lester Jeff D. Pawid, CFA Offered by the CFA Institute, the CFA credential is the standard of choice for investment professionals with real-world analytical skills, technical competence, and high ethical and professional standards. Level 1 of the CFA Program tests a candidate’s knowledge and comprehension of investment tools, while Level 2 focuses on the application of these tools and analysis for asset valuation. Finally, Level 3 synthesizes all learnings in the portfolio management context and incorporates a constructed response component. Candidates who have completed all three levels may seek to earn the CFA Charter after acquiring the required professional work experience.  Lester passed the CFA Level 3 exam in 2022. He says that he is grateful for the support of SaT Partner Marie Stephanie T. Hamed (MTH) who allowed him to start at a later date in SGV so that he could concentrate on his preparation for the exam.  Congratulations, Lester!