SyCipLaw recently conducted a seminar for in-house counsels belonging to the MVP Group titled "Future Proofing Your Company: Understanding the Implications of Carbon Transition." The seminar focused on international developments in climate action and the anticipated next phase of Philippine laws and regulations as the country seeks to accelerate action on climate change.
Principal resource persons for the seminar were SyCipLaw Partners Jose Florante M. Pamfilo, who heads the Firm's Sustainability and ESG group, and Russel L. Rodriguez of the Firm's Litigation Department. To begin, Jose provided an overview of the international legal regime for climate action, and existing Philippine climate change mitigation and adaptation policy measures, including sustainability reporting and sustainability finance. He then discussed key concepts, such as carbon markets, carbon rights and transition planning, in the context of pending legislation and policy proposals, and the Philippines' commitments under the Paris Agreement.
Meanwhile, Russel explored climate-related litigation trends in other jurisdictions and the prospects of this type of cases being successfully brought in the Philippines, especially in light of the Commission on Human Right's National Inquiry on Climate Change (NICC) report and proposed legislation.
SyCipLaw Special Counsel Catherina M. Fernandez and Associates Franco Luis G. Lopez, Lourd Marc Andrew D. Parong, and Raymond Nhil P. Shappit assisted with the presentations.
The seminar, which drew over 100 in-person and online participants from MVP Group companies (such as MERALCO, Maynilad, Metro Pacific Investments Corporation and PLDT, Inc.), sought to afford participants insight into, and an opportunity to discuss, how climate-related developments may impact compliance and corporate planning. The event coincided with the UN Climate Change Conference (COP29) in Baku, Azerbaijan.