MANILA, Philippines—The central bank is urging the local banking community to redouble efforts at mitigating the effects of climate change by supporting green and sustainable finance as part of their lending strategies.
In a speech delivered at the recent Trust Officers Association of the Philippines (TOAP) membership meeting, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said he was “glad to note thata number ofbanks have already issued products in this space in the past few years and even during the pandemic.”
The BSP, Securities and Exchange Commission and the Department of Finance have been actively involved in green and sustainable finance initiatives, he noted….
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