An Analysis of the Financial and Non-Financial Environmental Disclosures of Selected Environmentally Sensitive Philippine Publicly Listed Companies

Abstract

One of the most challenging global problems today is environmental sustainability, which countries and companies, at a micro level, are pressured to address. The study aimed to analyze the financial and non-financial environmental data disclosed in the sustainability reports of selected environmentally sensitive Philippine publicly listed companies (PLCs) relative to the Sustainability Reporting Guidelines of the Securities and Exchange Commission (SEC). Content analysis of PLCs’ reports was employed, with both descriptive and inferential statistics applied on the different data sets gathered. The study showed that the release of the SEC memo raised the level of environmental data disclosed by the Subject Companies for the period 2017-2021. Also, results showed a significant, positive association between firm size and reported environmental data, while leverage, return on equity, and the holding sector showed significant, negative relationships. The study is expected to add to the currently sparse written works on the environmental reporting in the Philippines, and also in other countries.