Key points are not available for this paper at this time.
This study examines how publicly listed mining and oil companies in the Philippines disclose climate-related risks and opportunities in alignment with the IFRS S2 Climate-related Disclosures framework. Introduced in 2023, IFRS S2 establishes standardized requirements for reporting climate-related governance, strategy, risk management, and metrics and targets. Using descriptive and thematic analysis of sustainability reports from 18 publicly listed companies covering the 2023–2024 reporting period, the study provides a baseline assessment of voluntary disclosure practices ahead of the mandatory local adoption of PFRS S2 in 2026. The findings reveal substantial variation in disclosure depth and quality. While some firms demonstrate structured governance mechanisms, integrated climate risk management, forward-looking strategies, and measurable performance indicators, others rely primarily on narrative and compliance-oriented disclosures. Companies exhibiting more comprehensive alignment appear better positioned to manage climate-related risks, identify strategic opportunities, and enhance investor confidence. The study highlights the importance of transparent, consistent, and decision-useful climate disclosures in strengthening regulatory preparedness and stakeholder trust, and offers insights to support the transition toward more robust IFRS S2–aligned reporting within the Philippine extractive sector.
Joy Lynn R. Legaspi (Thu,) studied this question.