The Bangko Sentral ng Pilipinas said Friday its total investments in green bonds increased to more than $550 million as it pursues sustainability objectives in the management of foreign reserves.
“BSP recognizes the importance of responsible investing. As such, we are working towards incorporating sustainability principles into our reserve management framework, asset allocation, and overall investment process,” BSP Governor Benjamin Diokno said in an online briefing.
“We carry out careful analysis of both costs and benefits, as well as consideration of possible trade-offs between traditional reserve management and sustainability objectives,” he said.
The Bank for International Settlements spearheaded a green bond initiative in 2019. This was carried out through a BIS Investment Pool in cooperation with a group of central banks, including the BSP. The initiative aims to create environmental impact through sizable climate-friendly investments and to demonstrate the commitment of participating central banks to green finance.