‘Traffic light’ system to help BSP in sustainable financing
THE Bangko Sentral ng Pilipinas (BSP) will employ a traffic light system in determining if certain financing activities are considered sustainable.
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THE Bangko Sentral ng Pilipinas (BSP) will employ a traffic light system in determining if certain financing activities are considered sustainable.
EVEN if the Philippines reduces its greenhouse gas (GHG) emissions by 75 percent, the country will still fail to meet its nationally determined contributions (NDCs) as well as net-zero targets, according to the World Bank.
THE national government intends to abolish agencies that are not ready for the “modern world” in order to meet the goals set in the Medium Term Fiscal Framework (MTFF), particularly bringing down the deficit to 3 percent of GDP by 2028, according to the Department of Budget and Management (DBM).
INCHEON, South Korea—The Philippines believes it will still be able to benefit from the Asian Development Bank’s (ADB) transformation as the region’s climate bank, according to the Bangko Sentral ng Pilipinas (BSP).
The Philippines may have the most to gain under a net zero transition, especially if it stops developing new coal projects, according to the Asian Development Bank (ADB).
THE damage caused by climate change over this past year was at times so immense it was hard to comprehend. In Pakistan alone, extreme summer flooding killed thousands, displaced millions and caused over $40 billion in losses, Fall floods in Nigeria killed hundreds and displaced over 1 million people. Droughts in Europe, China and the US dried out once-unstoppable rivers and slowed the flows of commerce on major arteries like the Mississippi and the Rhine.
The International Finance Corporation (IFC) has invested in a sustainability-linked bond in the hospitality sector globally for CapitaLand Ascott Trust (CLAS).
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