BSP signs United Nations-supported principles for responsible investment

The Bangko Sentral ng Pilipinas (BSP) has signed the United Nations-supported Principles for Responsible Investment (PRI), the leading global network of public and private institutions committed to incorporating environmental, social, and governance (ESG) considerations into their investment practices.

The PRI were developed in 2005 by a group of the world’s largest institutional investors in a process convened by then United Nations Secretary-General Kofi Annan. By signing the PRI, investors commit to integrating ESG issues into their policies, where consistent with their fiduciary responsibilities.

David Atkin, PRI CEO, commented: “We are extremely pleased to welcome BSP as a PRI signatory. As the central bank for the Republic of the Philippines, BSP has a broad mandate and responsibilities, and a unique opportunity to influence the responsible investment ecosystem in the market. BSP is to be commended for its commitment to incorporate ESG factors into its ownership and investment decisions, and we look forward to working with the team.”

Becoming a PRI signatory complements the BSP’s membership to the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) and is part of the BSP’s 11-point Sustainable Central Banking (SCB) Strategy.

The BSP recognizes that in fulfilling its mandates, it must take concrete actions in promoting the sustainability agenda. Joining the PRI aligns with the Bank’s mission and values.

This initiative allows the BSP to deepen its understanding of responsible investing, enhance the inclusion of ESG factors into the overall investment process and decision-making, benchmark its practices with other PRI signatories, and thereby, help achieve the BSP’s sustainability objectives.