Sovereign Social & Sustainability Bond Pioneer
The Philippine Government, through the Department of Finance (DOF) is currently administering a sustainable finance ecosystem to synergize investments from the public and private sector and yield green and social projects that will have lasting and permanent effect on the environment and on our people. It has also established the Sustainable Finance Framework(“Framework”) to support the country’s sustainability commitments and to set out how it intends to raise Green, Social or Sustainability Bonds, Loans and other debt instruments to finance initiatives in various project categories: (i) access to essential services; (ii) affordable basic infrastructure; (iii) food security; (iv) employment generation; (v) socioeconomic advancement and empowerment; (vi) affordable housing; (vii) COVID-19 expenditure; (viii) clean transportation; (ix) climate change adaptation; (x) environmentally sustainable management of living natural resources and land use; and (xi) renewable energy. With this Framework, and any financing under this Framework that may follow, the government intends to contribute to the development of the Sustainable Financing market domestically.
"The Philippines prioritises sustainable development along with concrete climate action given the increasing and intensifying climate emergency. The establishment of a sustainable finance ecosystem underscores the government’s commitment to mobilise ample financing for adaptation and mitigation initiatives."