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SGV Climate Change and Sustainability Services (CCaSS) Partners and Chamber of Mines of the Philippines (COMP) accredited Verification Service Providers (VSPs) Benjamin “Benjie” Villacorte and Katrina Francisco participated in a walkthrough audit and documentary verification of two mining operations. Benjie (first row, second from left) with other VSPs and representatives of Padcal Mine The audit of Padcal Mine and Rio Tuba Mine covered the assessment of various indicators under the Towards Sustainable Mining (TSM) program, aiming to review performance ratings of the reporting members to the COMP. This is a mandatory undertaking for existing and upcoming members of the organization, which subjects them to annually submit a self-assessment report. Katrina (first row, third from right) with Rio Tuba Representatives The TSM also aims to enable mining companies to meet society’s needs for minerals, metals, and energy products in the most socially, economically, and environmentally responsible way. With core pillar values grouping the protocols under: (1) Communities and People; (2) Environmental Stewardship; (3) Energy Efficiency, each protocol is made up of a set of indicators that help mining facilities build, measure, and publicly report on the quality of their management systems and their performance.The COMP adopted the TSM in 2017. In 2022, the first batch of VSPs, including Katrina and Benjie, underwent training and were accredited.

SGV Climate Change and Sustainability Services (CCaSS) Partners Benjamin “Benjie” N. Villacorte and Katrina F. Francisco were resource speakers at the Association of Certified Public Accountants in Public Practice (ACPAPP) Professional Development Committee Seminar and General Membership Meeting. The event aimed to impart knowledge on key sustainability topics and how these may affect the accounting profession. Sixty-one ACPAPP members attended the seminar and meeting at the Washington SyCip Development Center (WSDC) in Makati City.  Benjie (left) and Katrina (right) discuss key sustainability topics Benjie talked about circular economy and the Extended Producer Responsibility (EPR) Law. He gave an overview of circular economy and the plastic problem. He also discussed the EPR Law and its impacts on accountants and the EPR reporting audit requirements.  Benjie (left) and Katrina (right) receive their certificates of appreciation Katrina provided sustainability reporting updates. She gave an introduction of the International Sustainability Standards Board (ISSB) Standards, discussed the International Financial Reporting Standards (IFRS) S1 and S2 requirements, and recommended next steps for Philippine businesses.

SGV Climate Change and Sustainability Services (CCaSS) Principal Bonar A. Laureto was a guest speaker at the 66th Charter Anniversary Symposium and Special General Membership Meeting organized by the Rural Bankers Association of the Philippines (RBAP) at the Rizal Park Hotel.  Bonar talks about Environmental and Social Risks for Rural Banks Bonar shared his insights on setting up the Environment and Social Risk Management Framework for Rural Banks, as well as the opportunities, advantages, and overall impact on climate investment. He spoke alongside Bangko Sentral ng Pilipinas (BSP) Assistant Governor Lyn Javier, who talked about BSP policies and recommended that banks seek technical assistance from sustainability experts and organizations. The event aimed to provide relevant and noteworthy inputs for new opportunities to engage in and develop more collaborations with other private entities supportive of rural banking. It also provided a platform to share the latest industry updates that will be useful in day-to-day operations. Rural and cooperative bank owners, shareholders, directors, and senior officers from across the country attended the event.

SGV Climate Change and Sustainability Services (CCaSS) Partner and Philippine Sustainability Reporting Committee (PSRC) Chair Benjamin “Benjie” N. Villacorte, CCaSS Principal and PSRC Technical Working Group (TWG) member Bonar A. Laureto, and CCaSS Manager and PSRC TWG member Ricardo “Ricky” S. Maulion Jr. participated in the 10th Annual Securities and Exchange Commission - Philippine Stock Exchange (SEC-PSE) Corporate Governance Forum at the SEC Headquarters in Makati City. Benjie during the panel discussion Benjie was a panelist in the panel discussion on Interoperability of Global Sustainability Reporting Frameworks. He discussed the key features of the International Sustainability Standards Board (ISSB) Standards and updates on the jurisdictions that have adopted the standards. Benjie also gave an introduction of the PSRC, which is a relatively new organization that enables opportunities and solutions to advance sustainable development in the country. Bonar during the SuRe Workshop Briefer Bonar co-facilitated the Sustainability Reporting (SuRe) Workshop Briefer together with SEC Director for Corporate Governance and Finance Department Atty. Rachel Esther Gumtang-Remalante. Ricky was one of the workshop trainers during the simulating sustainability/climate risk assessment for SuRe Form activity. The forum was organized by the SEC and PSE in collaboration with Global Reporting Initiative (GRI), PSRC, and the United Nations Development Programme (UNDP). The participants came from publicly listed companies. 

SGV Partners Jose Pepito E. Zabat, Eleanore A. Layug, Hentje Leo L. Leaño, and Peter John R. Ventura, and Market Group (MG) 7 Assurance and Tax Managers participated in the 69th Annual National Mine Safety and Environment Conference (ANMSEC) at the CAP–John Hay Trade and Cultural Center in Baguio City.  SGV Partners Jose Pepito E. Zabat, Eleanore A. Layug, and Peter John R. Ventura, and MG7 Senior Managers with PMSEA President and ASEAN Eng. Luis R. Sarmiento The conference featured mining exhibits, a youth congress, mine safety field demonstrations and competitions, and mining, metallurgical, geological, and environmental symposia. The Presidential Mineral Industry Environmental Award for the best mining practices in the Philippines was also conferred during the event. SGV Partners Jose Pepito E. Zabat, Eleanore A. Layug, and Hentje Leo L. Leaño, and MG7 Assurance and Tax Managers The Philippine Mine and Safety and Environment Association (PMSEA) in cooperation with the Mines and Geosciences Bureau (MGB) and the Department of Environment and Natural Resources (DENR) organized the conference, which was attended by representatives from mining companies, regulators and local government units, and other industry stakeholders. PMSEA is a volunteer organization that promotes best practices in the areas of occupational health and safety, sound environmental management, and social development among mining companies operating in the Philippines.

SGV Indirect Tax Partner Atty. Stephanie V. Nava and Senior Director Meynard L. Sardalla conducted two tax webinars in cooperation with the Philippine Institute of Certified Public Accountants (PICPA) La Union Chapter. Over 600 attendees from various parts of the Philippines attended the webinars, which aimed to contribute to the participants’ professional development and promote knowledge-sharing in the field of taxation. Among the important tax-related topics covered were Understanding Tax Refund and Its Processes, as well as Understanding Taxation, Compliance, and Returns for Royalties, Interest, and Dividends. Atty. Steph discusses tax refund processes Atty. Steph provided a comprehensive overview of the different types of tax refunds, ensuring participants were well-informed about the procedural and substantive requirements for availing themselves of such refunds. She also shared practical tips and remedies on the process. Meynard during the forum session Meynard focused on the impact of tax treaties on the taxation of royalties, interest, and dividends in cross-border transactions. He also discussed recent revenue issuances that govern these areas, keeping participants up to date with the latest regulations. Both speakers actively engaged with the participants during the forum session, addressing their queries and concerns. Atty. Jo Ann Marie O. Casio, Atty. Gracia Mae A. Beronilla, and Atty. Charlene Joy W. Millares from SGV's Indirect Tax team also shared their insights during the tax refund forum.

Green Business Certification Inc. (GBCI), represented by Director of Global Market Development for the TRUE Program Mihir Thakkar, officially awarded the Total Resource Use and Efficiency (TRUE) Precertification to the SGV 1 and SGV 2 Buildings, making them the first TRUE Precertified facilities in the country. TRUE is a zero waste certification program dedicated to measuring, improving, and recognizing zero waste performance. Precertification recognizes projects that have implemented the fundamental actions and policies needed to effectively pursue zero waste and have demonstrated a commitment to achieving TRUE certification. The official awarding ceremony was held on 8 November 2023 at the SGV 1 Building in Makati City. (From left to right) CCaSS Director Rey Azarcon, CCaSS Partner Benjamin N. Villacorte, Director of Global Market Development for the TRUE Program Mihir Thakkar, SGV Chairman and Country Managing Partner Wilson P. Tan, Chief Sustainability Officer and SAVE Council Chair Clairma T. Mangangey, and SAVE Council Partner Alvin M. Pinpin during the official awarding ceremony SGV Chairman and Country Managing Partner Wilson P. Tan along with SGV Sustainable Actions for Value-Creation and Enablement (SAVE) Council Partners Clairma T. Mangangey, Benjamin N. Villacorte, and Alvin M. Pinpin received the certificate on behalf of SGV. This signifies the Firm’s commitment to resource efficiency and responsible waste management in the operations of the SGV 1 and SGV 2 buildings. SGV Partners and Leaders with Mihir and the SGV TRUE team The awarding highlighted SGV's achievements and efforts in promoting environmental stewardship. It offered a platform for the GBCI to discuss the opportunities and best practices within the region for achieving full TRUE Certification with members of the Procurement and Facilities Group (PFG) and the Climate Change and Sustainability Services (CCaSS) team, who also comprise the SGV TRUE team. The TRUE Program for the SGV 1 and SGV 2 Buildings is a project of the SAVE Council's Environment Pillar. It is also a testament to the growing emphasis on sustainability in the built environment.

Members of SGV’s Climate Change and Sustainability Services (CCaSS) team hosted a Sustainabits session on tackling the food waste problem on 27 October 2023. The session, titled “The Avalanche of Food Waste: A Threat to Climate Change and Hunger,” aimed to raise awareness among SGVeans about the global food waste problem, which impacts the twin challenges of climate change and hunger.  CCaSS team talks about the avalanche of food waste The presenters during the session were Associate Director Charmaine Dialde, Senior Associate Rianna Bengzon, and Associate Paul Ludovice. They discussed the difference between food waste and food loss, statistics on food waste in a global and local setting, and the relevant sustainable development goals focusing on the matter. They also touched on the main drivers of food waste and its environmental impact contributing significantly to greenhouse gas emissions and wasted resources. The team concluded their presentation by sharing tips on how to prevent food waste at home or in the office and the global initiatives on combating food waste to inspire the attendees to reduce their own food waste. CCaSS Partner Conrad Allan M. Alviz delivered the closing remarks. He highlighted the need to be more conscious about food waste and consumption to help protect the environment, especially this coming holiday season. The session concluded with a Declaration of Commitment on reducing food wastage, urging SGVeans to take a step towards the reduction of food waste, thereby decreasing its corresponding environmental impact.  The SAVE Council’s Sustainabits is a monthly thirty-minute session that covers concepts, trends, regulations, and industry practices around sustainability and climate change. 

SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin “Benjie” N. Villacorte was a panelist at the Asian Development Bank’s Gender Equality and Climate Resilience: Role of Public Financial Management (PFM) event on 7 November 2023. Benjie participated in the panel discussion on Improving climate outcomes through PFM. Over 80 ADB staff attended the hybrid event. (From left to right) Moderator Tahmeen Ahmad with Panelists Yoko Watanabe, Benjie Villacorte, Antonio Blasco, and Srinivas Gurazada Benjie talked about the landscape of sustainability reporting in the Philippines’ private sector and discussed the standards and sample disclosures that the industry reports on. He also shared how the public sector may learn valuable lessons from the experiences of the private sector on sustainability reporting and in terms of establishing clear sustainability goals, integrating sustainability into core processes, engaging with stakeholders, utilizing technology, adopting reporting frameworks, and embracing knowledge sharing.  Other panelists were Climate Change, Resilience and Environment Cluster (CCRE) Environment Director Yoko Watanabe and Public Expenditure and Financial Accountability (PEFA) Secretariat Head Srinivaz Gurazada and PEFA Senior Governance Specialist Antonio Blasco. ADB Procurement, Portfolio, and Financial Management Department (PPFD) Senior Tahmeen Ahmad served as the moderator. ADB PPFD Director General Aman Trana gave the closing remarks. 

SGV Global Compliance & Reporting (GCR) Partner Saha A. Bulagsak was the resource speaker in the Withholding Tax on Wages (WTW) and Fringe Benefits Tax (FBT) seminars under the SGV TaxBaSe series. The seminars were held from 17 to 20 October at the SGV Cebu, Makati, and Clark offices.  Saha with the SGV Clark participants Saha discussed the taxation of compensation and other employee benefits, including fringe benefits. She was joined by GCR Partner Hentje Leo L. Leaño in the question-and-answer sessions at the Makati and Clark offices.   Fatma, Leo, Stewart, and Saha during the Q&A sessions in Makati and Cebu (From left to right) Fatma, Saha, and Leo GCR Senior Director Fatma Aleah A. Datukon, Director David Jonathan F. Manalili, and Associate Director Stewart Herbie T. Po hosted the sessions in SGV Makati, Clark, and Cebu, respectively.