PICPA 64th Annual Convention | Cultivating resilience : Corporate sustainability as a progressive business goal
In the Philippines, the term "corporate social responsibility" has become a popular buzzword; however, our companies still have much to learn about corporate sustainability as an advocacy.
According to an April 2009 report by the International Finance Corporation (IFC) and the World Resources Institute (WRI), titled "Undisclosed Risk: Corporate Environmental and Social Reporting in Emerging Asia," corporate sustainability reporting among the Philippines’ 10 biggest companies is average at best and focuses mostly on community and foundation work.
While 10 companies do not necessarily reflect the practice of all local companies, the study suggests that aside from philanthropic work, good corporate sustainability efforts entail an alignment of sustainability strategy and business strategy. Moreover, efforts must go hand-in-hand with disclosure and continuous improvement of Global Reporting Initiative (GRI)-based reports.
Social and environmental trends -- climate change, deforestation, pollution, population growth and urbanization, to mention a few -- continue to affect corporations, their employees, the communities they serve, and their current and prospective investors. As the Philippines struggles to make its own mark in the global economic sphere, it becomes an even more vital task to designate individuals who can implement and make transparent corporate sustainability measures that link to a company’s growth and development.
On the occasion of its 64th Annual National Convention, with the theme "New directions: better options, better opportunities," the Philippine Institute of Certified Public Accountants (PICPA) presents "Cultivating resilience: Corporate sustainability as a progressive business goal" as its first plenary session. This technical session seeks to share the insights and experiences of top company decision-makers on the challenge of performing and reporting along the triple bottom line of business: economic, environment and social performance.
The plenary will cover the role of business in promoting sustainable development, the accountabilities of modern companies in the realms of environmental and social performance and how the top executives respond to these accountabilities. Moreover, it aims to answer what is meant by the imperative to go beyond adding value to stockholders to adding value to society and to present and future generations.
The PICPA 64th Annual National Convention, co-hosted by the PICPA Metro Manila Region, will be held from November 29 to December 2, 2009. The technical sessions will be held at the SMX Convention Center in Pasay City on December 1, 2009. For more information on the convention, contact Fanny Madraga at 723-9225 or Beth Paguio at 723-5467.