SHFC, other GOCCs urged to recommit to sustainability and innovation in governance

Published on 05 June 2024

PASAY CITY – Government-owned and –controlled corporations (GOCCs), including the Social Housing Finance Corporation (SHFC), were called upon to renew their commitment to sustainable development and innovation during the 13th anniversary[1] celebration of the Governance Commission for GOCCs (GCG) held on June 4 at the Philippine International Convention Center in Pasay City.

The event, led by GCG Chairperson Atty. Marius Corpus, along with GCG commissioners Atty. Brian Keith Hosaka and Atty. Geraldine Marie Berberabe-Martinez, was attended by SHFC President and CEO Federico Laxa and Executive Vice President Atty. Junefe Payot. Senator Loren Legarda served as the keynote speaker[2], while a message from President Ferdinand Marcos, Jr. was delivered by Commissioner Hosaka.

Earlier this month, President Marcos, Jr. commended the GOCCs for their contributions to the national treasury, exceeding Php 80 billion pesos halfway through the year and potentially surpassing their 2023 remittance by the end of 2024. For its part, SHFC has remitted Php 63.92 million pesos in dividends to the national coffers.

Senator Legarda, in her speech, emphasized the importance of ecological responsibility, inclusivity, gender equality, and innovation, particularly in light of the climate crisis posing a gigantic challenge to socio-economic progress and human survival. She also highlighted the Philippine Innovation Act, which she co-sponsored, aiming to improve innovation in governance and gather support for the adoption of new technologies.

By providing affordable housing in safe and central locations through innovative approaches and design, SHFC helps communities adapt to climate change impacts. In doing so, it contributes to the achievement of the sustainable development goals (SDGs), specifically SDG 11 on inclusive cities and communities. SDG 11 aims to renew and plan cities and other human settlements in a way that offers opportunities for all, with access to basic services, housing, and green public spaces, among others.

The GCG, established in 2011 based on the GOCC Governance Act, plays a key role in ensuring effective governance practices within the GOCC sector. The anniversary celebration served as a call to action for these corporations to recommit to sustainable development and embrace innovation under what President Marcos envisions as ‘Bagong Pilipinas’.


  1. GCG celebrating 13th anniversary |
  2. Senator Loren Legarda Speech |