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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 Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was a panelist in the session on “Environmental, social, and governance (ESG) as a Value Driver for Real Estate” at the Net Zero Building & Net Zero City Summit Philippines 2023 held on 10 January 2023 at the Dusit Thani Hotel Manila. The session dissected the impact of social good on real estate projects, including why ESG reporting is vital for investors and what impact it has on the community. Benjamin talks about ESG Benjamin with the other panelists Benjamin emphasized the importance and advantages of ESG in doing business, especially in the real estate industry. As investors pay more attention to ESG performance, companies are now integrating sustainability in their business models and plans to access more financing for their business operations and future expansion. He said that companies are realizing that solely aiming for profit is no longer enough to sustain businesses and that creating positive impacts on the environment and society are now gaining momentum as more businesses around the world work toward more sustainable operations.   Given the current trend in the industry on sustainability and “greenwashing,” Benjamin encouraged everyone to act now, aside from just pledging. He also emphasized that when investing in ESG strategies, even though the returns may only manifest in 5-10 years, priority should be given to creating long-term value.  

SGV Tax Partners participated in the 2022 Philippine Institute of Certified Public Accountants (PICPA) Metro Manila Region (MMR) and Geographical Area Office (GAO) Tax Conference held on 14 December 2022 at the Century Park Hotel, Manila City. The theme for this conference was “Play It Forward: Hot Tax Topics for Responsible Taxation.” SGV Tax Partner Aaron C. Escartin talks about e-commerce taxation SGV Tax Partner Aaron C. Escartin receives token of appreciation PICPA MMR Professional Development Committee and Regional Sectoral Representative for Public Practice Chair Maricris U. See (MUS) was one of the lead organizers of the event and SGV Tax Partner Aaron C. Escartin (ACE) was the speaker for Tax on E-commerce. Aaron was introduced by PICPA Eastern Metro Manila Chapter President Michael A. Madlangbayan (MAM).  PICPA MMR Professional Development Committee and Regional Sectoral Representative for Public Practice Chair Maricris U. See (second from right) with BIR Director II Beverly Milo (second from left), BIR Assistant Commissioner for Planning & Management Services Hon. Marietta U. Lorenzo (third from left) and other participants at the event Among the topics covered in the Summit aside from Tax on E-Commerce (online transactions business) were Bureau of Internal Revenue (BIR) Priorities Plans and Program for 2023 onwards, Hot Year-end Tax Reminders and Updates, and Tax vs. Philippine Financial Reporting Standards (PFRS). BIR Assistant Commissioner for Planning & Management Services Hon. Marietta U. Lorenzo was also one of the resource speakers. She was assisted by BIR Director II Beverly Milo. 

SGV Tax Principal and EY Asean Business Tax Services Leader Atty. Jules E. Riego (JER) was one of the guest speakers at the German-Philippine Chamber of Commerce and Industry (GPCCI) Economic Forum 2023 entitled Philippine Outlook: The Road to Re-Emergence, Recovery, and Rebuilding.The forum was held on 19 January 2023 at the German Club Manila in Makati City. Jules at the GPCCI Economic Forum 2023 Jules shared his knowledge and expertise on the impact of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and recent regulatory updates for 2023. He also shared his insights on upcoming local legislation such as the Real Property Valuation and Assessment Reform Act, the Comprehensive Tax Reform Program, Tax on Digital Transactions, and the Ease of Payment of Taxes Act. SGV Assurance Leader Martin C. Guantes (MCG) and SGV Market Group 3 Leader Henry M. Tan (HMT) also attended the event. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Katrina F. Francisco (KFF) and SGV Business Consulting Leader and Institute of Internal Auditors Philippines (IIAP) 2022 Chairman Ryan Gilbert K. Chua (RKC) joined the IIAP Chief Audit Executives (CAE) Forum titled Risks that Matter: Focus on Cybersecurity, Privacy and Sustainability Risks in November 2022 via Zoom. Katrina with the moderators and other speakers The session solicited and drove an exchange of views, insights, and best practices from the panelists, moderators, CAEs, and other attendees in addressing or navigating through cybersecurity, privacy and sustainability risk areas which may have led many companies to rethink or change their business models.  Ryan presents a summary of the session Ryan opened the session and presented a summary of Risks that Matter, gave a recap of the previous sessions that focused on the overall changes brought about by the last two years of immense disruption which impacted government policies, consumer behavior, and organizations’ business models, and the potential of people as the main drivers of disruptive innovations, and set the tone for the panel discussion. This was followed by the panelists’ respective talks and a Q&A session.

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!

The SGV Cebu team led by SGV Cebu Partner-in-Charge Margem Tagalog (MAT) was the official tabulator of the municipality of Carmen, Cebu’s 50th Sinulog anniversary Festival Queen and Ritual Showdown event highlights on 22 January 2023. The Sinulog sa Carmen 2023 tabulators SGV Cebu Assurance Managers Ian Jayme, Frecy Catadman and Jayvee Anga were part of the tabulating team. They were assisted by Senior Associates Kitz Genobesa, Jeyson Tugonon and JP Castro and Associates Stella Abayhon, Sybille Dublico, Vince Miramon, and Rodelio Rodrigo.  The Sinulog Festival or Sto. Niño Festival in Carmen, Cebu is an annual religious and cultural festival held in celebration of one of the country’s most famous historic relics, the Santo Niño de Cebú. SGV Cebu was also the tabulator for similar festivities organized by the Cebu Provincial Government in the past such as the Pasigarbo sa Sugbo (“Pride of Cebu”) 2022 Festival Queen and Festival of Festivals. 

SGV Cebu held its first in-person alumni cocktails event in over two years since the pandemic began. The event was held at the new SGV Cebu office on 26 January 2023. It aimed to strengthen the bonds of personal and professional friendships with the alumni. It was also a way for SGV Cebu to thank the alumni for their contributions and support over the years. About 60 SGV Cebu alumni, partners, and managers attended the event.   SGV Partners and Leaders with SGV Cebu Alumni SGV partners, leaders, and alumni delivered their respective messages during the event. SGV Chairman and Country Managing Partner Wilson P. Tan (WPT) talked about SGV Cebu's involvement in various projects in the local business community, professional organizations, and local community efforts in line with the Firm’s mission to enable businesses and build a better Philippines.  Market Group 4 Leader Veronica R. Pore (VRP) thanked everyone in attendance and mentioned how the SGV Cebu office is also the alumni’s “home” and that they are welcome to visit anytime. SGV Cebu Tax Partner Saha P. Adlawan-Bulagsak (SAB) shared her realizations on how far SGV Cebu has come, how extensive its networks have become, and how all this has contributed to SGVeans’ exceptional SGV experience that they always carry with them wherever they go.  SGV Cebu Alumnus and former SGV Cebu Partner-in-Charge Ben Dapat gave a short message of appreciation and expressed his willingness to help the Cebu office in any way he can. SGV Cebu Alumna and Securities and Exchange Commission (SEC) Legal Counsel Atty. Mhai Largo also gave a short message thanking her former colleagues and emphasizing SGV’s legacy, which she said is the quality of its people. A short video of SGV Cebu’s history and the Firm’s Purpose song music video were also shown. The event concluded with a toast led by SGV Cebu Partner-in-Charge Margem A. Tagalog (MAT) to the Cebu Office’s past, present, and future. The Cebu Office managers also gave the alumni a brief guided tour of the new office. Assurance Associate Vic Angela L. Jugar served as the emcee.

SGV Climate Change and Sustainability Services (CCaSS) Senior Manager Crystal Aleli R. Cornell was a speaker at the Junior Philippine Institute of Accountants – University of St. La Salle’s webinar on International Financial Reporting Standards (IFRS) Sustainability Standards on 2 December 2022.  Crystal receives Certificate of Appreciation Crystal provided an introduction to sustainability, including the drivers and relevance of sustainability. She highlighted that sustainability creates long-term value, and for companies to be able to show their commitment to long-term value creation, this entails reporting to the stakeholders as responsible organizations.  Crystal also shared the evolving requirements on sustainability reporting, as well as the significant developments in the standards and guidance around these reports. She discussed the requirements of the two Exposure Drafts on IFRS Sustainability Standards published in March 2022. Crystal emphasized the role that accountants play in the growth of sustainability, particularly in the integration of the accounting and finance function in the non-financial reporting processes and controls based on their experience and knowledge of leading practices.

SGV Climate Change and Sustainability Services (CCaSS) Senior Director Crystal Aleli R. Cornell was one of the resource speakers at the 2nd Philippine Institute of Certified Public Accountants (PICPA) Eastern Metro Manila Province Chapter (EMMC) General Membership Meeting and Webinar held on 13 January 2023.  She talked about the role of accountants in sustainability reporting. Crystal talks about the role of accountants in sustainability reporting  Crystal gave an introduction on sustainability and how it can create long-term value for organizations. She discussed the four pillars of sustainability (i.e., economic, environment, social and governance) and its drivers (i.e., institutional investors, standard-setters, regulators and government, employees, consumers, and society).  She emphasized the importance of the connection between financial and non-financial aspects of the business in long-term value creation.  Crystal discussed the global and local developments around sustainability reporting. She also shared highlights of SGV’s publication titled “Beyond the Bottom Line: Sustainability Reporting in the Philippines” where SGV's CCaSS team reviewed how listed companies have responded to the Securities and Exchange Commission’s (SEC’s) call to publish sustainability reports since 2019.  Crystal concluded her presentation by highlighting how accountants can lead sustainability initiatives. She also encouraged the participants to start their sustainability journey individually or within their organizations.