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For businesses and global financial markets, the scenario they faced in the past two years was far from rosy.
Do what you love, and you will never have to work a day. This quote, earlier attributed to Chinese philosopher Confucius, is inspiring and true.
The COVID-19 pandemic has been called many names. If we are to be straight and definitive about it, most see it as a spread of a viral disease, a contagion that halted our way of life as we knew it before the pandemic struck.
In the Philippines alone, e-commerce is expected to further flourish as the government continues to take active steps in digitalizing government processes. The Department of Information and Communications Technology (DICT) continues to ramp up initiatives in accelerating free internet connectivity especially in remote areas, while the DICT’s attached agency, the Cybercrime Investigation and Coordinating Center, is finalizing its roadmap with amendments to the country’s existing National Cybersecurity Plan.
On top of a myriad of factors that can disrupt business operations, including a changing business environment and economic uncertainties that stir global financial markets, businesses are now increasingly concerned about how they can help address environmental issues, and for good reason. The effects of climate change are more apparent, with a study released by the UN’s World Meteorological Organization (WMO) showing that in 2021, greenhouse gases, the primary cause of climate change because they trap heat within the atmosphere, spiked to hit new record levels. They warn that these levels will continue to rise through 2022.
Experts may say improved allocation and realignment of funds and resources would do the trick. For newly established companies, growing your investments portfolio to expand reach and operations is a good move.
Last September, the Fiscal Incentives Review Board finally put forward a resolution that will allow Information Technology and Business Processing Management or Business Processing Outsourcing firms in ecozones to adopt fully remote arrangements without risking penalty or suspension of their tax incentives.
These days, it is an accepted fact that the burden of reversing the climate crisis lies largely on the shoulders of governments and corporations. After all, research shows that less than 100 companies are responsible, whether directly or indirectly, for majority of carbon emissions throughout history. Thus, companies have been under scrutiny to ramp up their sustainability initiatives. The recent Grant Thornton International Business Report (IBR) even saw that 42% of the surveyed Philippine mid-market firms are ready and likely to invest in sustainability reporting and initiatives.
