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The pilot of a new initiative to foster sustainable business practices by Micro, Small and Medium Enterprises (MSMEs) in the Philippines has successfully concluded. Part of a wider collaboration between GRI ASEAN and the Philippines Department of Trade & Industry (DTI), the Sustainable Practices and Reporting Kickoff (SPARK) saw targeted activities to support 15 SMEs and 23 microenterprises in the country. With an estimated 70 million MSMEs in ASEAN, making up 85% of employment and accounting for almost a fifth of regional exports, MSMEs are a vital component of the Filipino economy. Yet sustainability reporting practices, and an understanding of the contributions of MSMEs on sustainable development, is lacking. The SPARK program explored the impacts of business activities on the economy, environment and society, and how these factors relate to resilient business operations. The pilot emphasized how sustainability practices can reduce risks and boost competitiveness, with a focus on developing key skills, particularly in communicating non-financial performance and progress through effective sustainability reporting.
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