Media and Sustainability Reporting in the Philippines

Trends, Challenges, and Opportunities

Abstract

Recognizing the critical role corporations play in achieving sustainability goals, sustainability reporting goes beyond mere compliance and investor relations. It is a crucial tool that enables stakeholders across various sectors to identify and scrutinize potential malpractices, including labor and environmental exploitation. The challenges surrounding corporate sustainability reporting in the Philippines, including stakeholder involvement from entities such as media and academia, as well as potential policy enhancements, remain areas ripe for exploration. The objectives of this study are three-fold: 1) to assess the effectiveness of media strategies in enhancing stakeholder engagement and public perception of corporate sustainability practices; 2) to analyze how corporations communicate their sustainability strategies through various media channels; and 3) to compare the portrayal of sustainability impacts in media outlets with those in corporate sustainability reports. Employing a systematic content analysis, findings revealed that while Philippines-based corporations frequently use traditional and social media platforms to promote sustainability initiatives, the actual engagement on these platforms, especially social media is minimal. Moreover, the depth of media engagement on sustainability does not match the enthusiasm for broadcasting positive sustainability initiatives, suggesting a missed opportunity for enhancing stakeholder trust and engagement. The research calls for a more integrated and proactive approach in media engagement strategies, proposing that media should not merely serve as a tool for publicizing sustainability but should be a central element in fostering transparency and driving meaningful discourse on sustainability issues.