ADFIAP promotes “Greening the Board” to Corporate Directors

Upon the invitation of the Institute of Corporate Directors (ICD) Philippines, ADFIAP represented by its Secretary General, Octavio B. Peralta, talked to a group of corporate directors on the subject of “greening the Board” during the ICD’s 52nd breakfast roundtable meeting at the Tower Club in Makati City.

Mr. Peralta highlighted the work and advocacy of ADFIAP and its members in environmental governance based on its USAID environmental due diligence project and later on the EU-Asia Pro Eco grant project that institutionalized an environmental management systems in development finance institutions (DFIs) for resource efficiency and “green” lending operations. The “greening the Board” initiative deals with further enhancing the CSR programs of companies by instituting measures like considering to nominate a Director with a working knowledge on environmental issues, having a Board-approved corporate environmental policy, constituting an environmental committee or expanding the scope of the risk management committee to look closely on environmental issues, and preparing a company annual report cum sustainability reporting or a stand-alone sustainability report.

The ICD is made up mainly of individual corporate directors and reputational agents committed to the professional practice of corporate directorship in the Philippines in line with global principles of modern corporate governance. ICD is working closely with the Organization for Economic Co-Operation and Development (OECD), the Gkobal Corporate Governance Forum, and the International Corporate Governance Network on improving actual boardroom practices, moving away from principles into actual practices. ICD is a non-stock, not-for-profit organization working in close partnership with other business, government, and civil society organizations to promote and uphold the practice of good corporate governance.

Related News