Philippines

BSP issues the Circular 1149 – Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks

BSP issues the Guidance on the Implementation of the Environmental and Social Risk Management (ESRM) System

The Philippines Inter-Agency Technical Working Group for Sustainable Finance (ITSF) issues the Sustainable Finance Roadmap and Sustainable Finance Guiding Principles

BSP issues the Environmental and Social Risk Management Framework (Circular No. 1128 Series of 2021), complementing the Sustainable Finance Framework

BSP issues the Sustainable Finance Framework (Circular No. 1085 Series of 2020). requiring banks to integrate environmental and social risk management in their corporate governance and risk management frameworks, as well as in their strategic objectives and operations

BSP, together with the members of the ASEAN Task Force, publishes the Report on the Roles of ASEAN Central Banks in Managing Climate and Environment-Related Risks

BSP joins the Network of Central Banks and Supervisors for Greening the Financial System (NGFS)

BSP publishes the Impact of Extreme Weather Episodes on the Philippine Banking Sector: Evidence Using Branch-Level Supervisory Data (Working Paper series 2020-03)

As of the end of 2020, the country’s accumulative green, Social, and Sustainability bonds issuance have reached $3.53 billion

SEC issues the Sustainability Reporting Guidelines for Publicly Listed Companies

SEC issues the Guidelines on the Issuance of Social Bonds under the ASEAN Social Bonds Standards and the Guidelines of the Issuance of Sustainability Bonds under the ASEAN Sustainability Bonds Standards in the Philippines

BSP adopts the Sustainable Central Banking Program as one of its corporate strategies, aiming to champion the sustainability agenda in the financial system by fostering environmentally responsible and sustainable policies and work practices

BSP joins the ASEAN Task Force on the Roles of Central Banks in Managing Climate and Environment-Related Risks, which aims to conduct a study on the roles of ASEAN Central Banks in addressing or managing climate and environment-related risks to monetary, financial, and broader macroeconomic stability

SEC adopts the Association of Southeast Asian Nations (ASEAN) Green Bond Standards, and issues Guidelines on the Issuance of Sustainability Bonds Under the ASEAN Sustainability Bonds Standards in the Philippines

BSP joins SBFN

DENR joins SBFN