![\"Typhoon](\"https:\/\/www.greenpeace.org\/static\/planet4-philippines-stateless\/2024\/11\/d319fc0d-gp0su38s8-1024x683.jpg\" "\\"Typhoon")
The announcement comes less than three months after survivors of Super Typhoon Yolanda from Salcedo urged the commission to make sustainability reporting mandatory, as a way to enforce stronger climate accountability policies for corporations.2<\/sup> Typhoon-impacted communities in Salcedo, Eastern Samar3<\/sup> and across the country are leading the fight for climate justice and corporate accountability, with many of them participating in collective calls for mechanisms to make polluters pay. <\/p>\n\n “Bilang magulang at kinatawan ng komunidad namin, masaya ako sa desisyon ng SEC. Pinatutunayan nito na ang pagkakaroon ng tapang kumilos para manawagan ay maaaring magdulot ng mabuting resulta,\u201d said community leader Lorena Ivy Ogania of Salcedo. \u201cGusto kong tumigil na ang hirap na nararanasan namin dahil sa krisis sa klima, para hindi na maranasan ng aking anak ang mga suliraning kinakaharap natin taon-taon. Sana mapanindigan ng SEC at ng gobyerno ang kanilang tungkulin, at panagutin ang mga kompanyang nagpapalala sa krisis sa klima.”<\/p>\n\n [“As a parent and representative of my community, I am encouraged by this decision of the SEC. It proves that having courage to take action can result in positive change. I want the hardships we endure because of the climate crisis to end, so my child will no longer experience the problems we are forced to face every year. I hope the SEC and the rest of the government carry out their duty and hold corporations accountable for their contributions to the worsening climate crisis.\u201d]<\/p>\n\n Requiring disclosure or transparency is an important way to hold companies accountable if their operations or activities contribute to the worsening of the climate crisis. Moreover, the transparency resulting from disclosure will also benefit businesses, as it allows them to address the risks posed by climate change.<\/p>\n\n \u201cThe SEC\u2019s move to make sustainability reporting and climate related financial disclosures mandatory is long delayed but nevertheless a welcome move. But it should only be a first step towards a more stringent regulatory regime for corporate climate accountability,\u201d said Greenpeace campaigner Virginia Benosa-Llorin. \u201cCoupled with the passage of the Climate Accountability Bill (CLIMA Bill)<\/strong>, this regulation, if executed well, can potentially allow companies to proactively address climate change and prevent further harm to communities made vulnerable by climate impacts, laying down a framework for corporate transition and accountability.\u201d<\/p>\n\n Benosa-Llorin, who accompanied Salcedo representatives when they delivered a letter with their demands<\/a> to the commissioner at the SEC HQ, said that worsening storms, floods, and other weather events caused by escalating climate change is making life unbearable for many Filipinos,\u201d especially at a time when storms are becoming more frequent and unpredictable. It\u2019s causing sleepless nights and severe climate anxiety for residents of previously hit areas. Communities deserve nothing less than having their government on their side.\u201d<\/p>\n\n Notes to Editor<\/strong><\/p>\n\n [1] Philippines to begin implementing mandatory sustainability reporting by 2026<\/strong><\/a>, EcoBusiness.com<\/em><\/p>\n\n
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