The Bangko Sentral ng Pilipinas released its 2023 Sustainability Report, outlining its progress in addressing climate change and its commitment to a climate-resilient economy.
Governor Eli M. Remolona emphasized the interconnectedness of financial stability and climate resilience, underscoring the BSP’s role in facilitating climate adaptation finance for the public, businesses, and households.
Aligned with the National Adaptation Plan and Philippine Energy Plan, the BSP’s sustainability agenda focuses on three key areas: managing climate-related financial risks, promoting green finance, and integrating sustainability into its operations.
The report highlights achievements such as regulatory incentives for sustainable finance, the development of sustainable finance guidelines, climate change impact research, and ESG integration in investments and reserves.
Remolona stressed the importance of an inclusive sustainability approach that addresses the potential negative impacts of climate action on vulnerable sectors.
The report aims to foster collaboration among stakeholders in building national climate resilience and will be guided by the newly established Sustainability Office.
To view the 2023 BSP Sustainability Report, visit https://www.bsp.gov.ph/Media_And_Research/Publications/2023_BSP_Sustainability_Report.pdf
