The global bank wants to push more green financial initiatives in the country.
International Finance Corp. (IFC) unveiled a new program to mobilize financing for climate-friendly projects in the Philippines. The IFC said its new 30 by 30 Zero initiative aims to help financial institutions bolster their green finance plans into their investment plans and decrease climate risks and greenhouse gas emissions.
The initiative was developed alongside World Bank funded by the International Climate Initiative and the German government. It intends to bring together key financial stakeholders to organize support for the shift toward a low carbon economy.
IFC aims to bolster its plans towards climate related initiatives in the Philippines.