Sustainability Audit
Implementing sustainability audit initiatives in the Philippines can significantly enhance environmental governance and corporate responsibility, much like in Europe. Here are some possible implementations that could be adapted from European practices:
One possible implementation is the adoption of a directive similar to the European Union's Non- Financial Reporting Directive (NFRD) and Corporate Sustainability Reporting Directive (CSRD). This directive require large public-interest entities to disclose non-financial information, including environmental matters, and expand the scope to include smaller companies and more detailed reporting requirements. The Philippines can introduce similar regulations to ensure that companies provide transparent and comprehensive sustainability reports. This would enhance corporate accountability and encourage sustainable practices in the business sector.
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