Philippines pilots initiative for sustainable MSME practices

A new initiative aimed at promoting sustainable business practices among Micro, Small and Medium Enterprises (MSMEs) in the Philippines has recently concluded its pilot phase. This initiative, known as the Sustainable Practices and Reporting Kickoff (SPARK), was a collaborative effort between GRI ASEAN and the Philippines Department of Trade & Industry (DTI). It involved targeted activities that supported 15 SMEs and 23 microenterprises, highlighting the importance of sustainability reporting and the role of MSMEs in sustainable development. The pilot program included three plenary sessions held between April and June, with one in-person event. Participants received valuable insights from industry experts and engaged in one-on-one coaching sessions in July. The coaching panel included representatives from the Philippines Securities & Exchange Commission, the Central Bank of the Philippines, and the DTI. This engagement aimed to enhance the understanding of sustainability practices and their potential to reduce risks while boosting competitiveness. Katreena Pillejera, Country Manager for the Philippines at GRI ASEAN, emphasized the challenges and opportunities in engaging MSMEs in sustainable practices. The SPARK program is the first phase of a broader five-year initiative focused on embedding sustainability in the value chain of MSMEs. The program aims to leverage sustainability reporting to help MSMEs recognize their impacts and contribute to national and global sustainable development goals. Participants expressed their newfound awareness of sustainability reporting and its significance. The initiative has inspired businesses to adopt more sustainable practices, ultimately positioning them as key contributors to economic progress and social equity in the Philippines and beyond.