The Bangko Sentral ng Pilipinas (BSP) officially approved 2 temporary measures to promote sustainable development and carbon reduction investment initiatives. These measures are designed to encourage banks to create a more financial-friendly environment by increasing their lending capacity and lowering the reserve requirements for sustainable bonds.
“As a sustainable finance champion, the BSP will continue to play an active, enabling role in fostering the transition towards a sustainable economy. We will identify and create appropriate incentives that are within our mandates empowering the banking system to steer capital flows toward growing green or sustainable investments and accelerate the development of solutions addressing just transition and adaptation-related challenges,” BSP Governor Eli M. Remolona, Jr. said in a statement.
