Philippines Consults on ASEAN Sustainable Fund Standards

Securities watchdog consulting on expectations for sustainable funds, including issuance trends, investment drivers and regulatory requirements.

The Philippine Securities and Exchange Commission (SEC) is seeking views on the recommended features of the proposed ASEAN Sustainable and Responsible Fund Standards (SRFS).

The ACMF (ASEAN Capital Markets Forum) has identified the development of ASEAN SRFS as a priority under the Roadmap for ASEAN Sustainable Capital Markets (Priority Area II).

In this regard, the ACMF will explore the feasibility of developing sustainable and responsible fund standards and will consult with fund managers in the region on the technical requirements and feasibility consideration.

The consultation paper outlines the proposed recommendations for the development of the ASEAN SRFS, covering disclosure and reporting, investment strategy and objectives, ESG compliance processes, and the use of reference benchmarks or indices, among others.

The consultation seeks views from investment companies and fund managers on their expectations for domestic take-up of sustainable funds, issuance trends, specific thematic preferences, and investment drivers.

It also seeks views on the proposed disclosure and reporting requirements, whether the ESG compliance processes are adequate, and how to mitigate greenwashing risks in sustainable funds.

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