BSP calls for continued collaboration on sustainable finance

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno urged policymakers, regulators, banks, development agencies and other stakeholders to intensify collaboration to promote wider adoption of sustainable finance principles.

The Governor made this call during the launch of the “Philippine Sustainable Finance Roadmap” and “Guiding Principles,” two key documents that set out the necessary guideposts aimed at unlocking funds for sustainability projects and initiatives.

Sustainable finance incorporates Environmental, Social and Governance (ESG) standards to assess the value, performance, and long-term growth of an asset. Governor Diokno noted that there is considerable progress in green, social, and sustainability bonds, with more than USD 1.15 billion and PHP85.4 billion issued since 2017.

With the Governor (top, left) were (in photo, clockwise) Finance Secretary Carlos G. Dominguez III, Asian Development Bank’s Green and Innovative Finance Unit Head Anouj Mehta, United Nations Development Programme Resident Representative to the Philippines Selva Ramachandran, and British Ambassador Designate to the Philippines Laura Beaufils.

Also present during the event were Securities and Exchange Commission Chair Emilio B. Aquino, National Economic and Development Authority Undersecretary Mercedita Sombilla and Ernst & Young Director Russell Marsh.