Manila, 31 March 2026 – The Commonwealth Climate and Law Initiative (CCLI) has released a  flagship legal opinion on nature- and climate-related duties for Philippine directors. The report  was produced in partnership with global environmental law charity ClientEarth and the Institute of  Corporate Directors (ICD). 

This landmark opinion piece, “Nature-related risks & opportunities, and the duties of company  directors under Philippine law,” will also lead to the convening of the Philippines’ foremost board  directors, senior regulators, government representatives, alongside legal, governance and  sustainability professionals at Fairmont Makati, Manila – including high-level officials from the  Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE), which  will be held on 14 April.  

The launch of the legal opinion underscores how evolving legal obligations are fundamentally  reshaping board-level responsibilities and sustainability disclosure, as the Philippines continues  to bolster its corporate transparency and advance wider climate ambitions.

STRENGTHENING BOARD GOVERNANCE THROUGH LEGAL CLARITY 

Commissioned by CCLI, the legal opinion provides an analysis on board directors’ duties  surrounding nature and climate related risks and obligations, which also includes considerations  for Indigenous Peoples. Latest findings stressed the need for directors to integrate these nature related risks into board-level risk assessment and strategic planning. These will not only ensure  compliance with the Philippines’ evolving regulatory expectation – but also strengthen the  country’s alignment with global best practices, while helping board directors safeguard long-term  business value and interests. 

Natalie Shippen of the Commonwealth Climate and Law Initiative (CCLI), remarked, “This legal  opinion makes clear that nature-related risks are not optional considerations for directors. They  are core to fulfilling directors’ duties under Philippine law. By integrating these risks and  opportunities into decision-making, boards can strengthen resilience, support long-term  value creation and ensure alignment with emerging legal and regulatory expectations.” 

CHARTING THE WAY FORWARD 

In essence, this legal opinion acts as a coordinated call to action for Philippine boards to adopt  legally sound, environmentally responsible practices, especially where rigorous sustainability  disclosure and climate-aligned risk assessment are concerned. By embedding nature-related  considerations into fundamental governance frameworks, directors can strengthen risk  management, attract sustainable investment, and contribute to the national and global climate  goals at large. 

Racle Rodriguez, Lawyer for Resources, Energy, Mobility (REM), Japan and Southeast Asia at  ClientEarth, commented, “Nature-related risks are not abstract – they can translate into material  financial, operational, legal and reputational risks for companies. Where business activities affect  ecosystems and the Indigenous Peoples and local communities who depend on them, these  impacts can disrupt supply chains, expose companies to regulatory and legal challenges and  undermine their social license to operate. Boards should therefore ensure that nature-related risks  are properly identified and managed as part of their duty to promote the company’s long-term  value and resilience.”  

Through launching this landmark legal opinion to clarify directors’ duties with respect to nature related risks and opportunities, the Commonwealth Climate and Law Initiative, ClientEarth, and  the Institute of Corporate Directors are redefining the decisive role of law in guiding board-level  governance toward resilience and holistic responsibility – while positioning the Philippines as a  regional leader in systemically integrating nature and climate consideration into corporate  decision-making.