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Corporate Social Responsibility Act, 2011.

Philippines Current 2011

The act prohibits publicly listed companies “from retaining surplus profits in excess of 100 percent of their paid-in capital stock except when justified by definite corporate expansion or corporate social responsibility projects and programs approved by the board of directors”.

Issuer name

Committee on trade and commerce

Government ministry

Business/Trade/Industry

More information

The act also states that, “All large tax payer corporations shall submit as part of their annual report to the Securities and Exchange Commission (SEC) the list of activities relative to their corporate social responsibility”.

Organizations covered by the instrument

Large private and listed companies

Industry scope

All/none specified

Disclosure venue

Annual report

ESG coverage- S (Social)

Social Impacts & Value Creation

ESG coverage- Eco (Economic & General)

Economic performance, Indirect economic impacts

Status

Current

Country

Philippines

Region

Asia Pacific

Date of publication

2011

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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