demand Tighter pricing & diverse investors Green story & image building Benefits for investors: Benefits for issuers: CONTACTS 19 ▪ ICMA Asia Pacific • Mushtaq Kapasi: +852 2531 6590 – Mushtaq.Kapasi

sustainability of economic and social development.Previously, the SEC issued the regulations on information disclosure of environmentally conscious debt offerings, effective since 31 December 2018, and the

i l i t y Environmentally friendly and reducing the environmental impacts of our own operations Financial support to environmentally- friendly businesses Financial inclusion and financial literacy

characteristics (Matsumoto, 2002) - Institutional ownership - Reliance on implicit claims with their stockholders - Value-relevance of earnings Natural disasters (such as hurricanes: Byard et al. 2007

energy); • environmentally sustainable management of living natural resources and land use (including environmentally sustainable agriculture; environmentally sustainable animal husbandry; climate smart

financial sector towards the country’s shift to an environmentally sustainable future. • At the same time, this guide represents a huge opportunity for the growing numbers of individual and institutional

5.5% 111.3 4.8% -21.2 -16.0% Total Assets 2,409.5 100.0% 2,310.3 100.0% -99.2 -4.1% Liabilities and Stockholders' Equity Bank Overdrafts and Short-Term Loans 60.0 2.5% 96.5 4.2% 36.5 60.8% Trade and

Coverage Ratio (times) -3.59 3.38 Earnings Per Share (EPS) -0.953 0.162 Weighted Average Common Stockholders' Equity (million shares) 1,983.93 1,767.22 Please be informed accordingly. Yours faithfully

Initiatives (KSIs) as follows:1) Developing a Practical Taxonomy: Serving as common definition and classification system of economic activities deemed as environmentally-sustainable, a taxonomy aligns the

seek to support issuers in financing environmentally sound and sustainable projects that foster a net-zero emissions economy and protect the environment. GBP- aligned issuance should provide transparent