The Market Monitor Minding the Nation's Business
The University of Asia and the Pacific (UA&P), in partnership with the IESE Business School of the University of Navarra, Spain, hosted a symposium in UA&P on September 20 exploring a critical question: Is ESG worth the investment?
Dr. Gaizka Ormazabal, a globally recognized expert on sustainability and governance, provided an international outlook on ESG (environmental, social, and governance) investing and disclosures, and discussed the various aspects of information collection for ESG reports. Dr. Ormazabal is the academic director of the Spain-based IESE Center for Corporate Governance and holds the Grupo Santander Chair of Financial Institutions and Corporate Governance.
The symposium also featured the findings from three Philippine-based studies authored by faculty members and students of UA&P’s School of Management. The studies revealed key insights into the impact of ESG reporting on corporate outcomes as well as the factors influencing the quality of these disclosures. Below were the studies presented:
The Effect of Environmental, Social, and Governance (ESG) Ratings on Financial Performance during Voluntary and Compliance Reporting Periods: The Philippine Experience by Lota Kristine San Juan-Nable, MSc and Nogin C. Bunda, MSc
The Moderating Effect of Firm Visibility on the Impact of ESG Practices on the Financial Performance of Publicly Listed Companies in the Philippines by Kyla Henrietta M. Guillermo, MSc and Justin Reginald Nery, CPA
Impact of Board Composition of Philippine Companies on the Quality of their ESG Disclosures by Justin Reginald Nery, CPA and Marc Kevin Morales
The joint symposium, entitled “Is ESG worth the investment? Evaluating the Value and Impact of Sustainability Practices,” offered attendees the opportunity to explore both local and global perspectives on ESG practices and highlighted the importance of integrating sustainability into business strategies for long-term success.