PEZA to launch sustainability reporting this 2023

MANILA, PHILIPPINES — The Philippine Economic Zone Authority (PEZA) is set to introduce sustainability reporting among its registered business enterprises (RBEs) as part of the agency’s updated memorandum of understanding (MOU) with the Global Reporting Initiative (GRI).

According to PEZA Officer-in-Charge Tereso Panga, “This MOU aims to contribute to the acceleration and achievement of the Sustainable Development Goals and the advancement of sustainability reporting in the Philippines especially within the ecosystem of export-oriented locators in PEZA.”

Complying with GRI’s requirements can also be a source of competitiveness for the country in attracting FDIs (foreign direct investments) and in enhancing regulatory compliance. 

“Many advanced and developing economies subscribe to these principles to be able to measure the impact of FDIs on the host countries toward inclusive, resilient, and sustainable development,” added Panga. 

With the updated MOU, PEZA will hold a roundtable discussion with RBEs in the first quarter of the year to get recommendations from its locators as it targets to issue a memorandum circular on sustainable trade and investments guidelines.