The Bangko Sentral ng Pilipinas is investing in green bonds as it supports environmentally responsible finance and investment practices.
The BSP in a statement Tuesday affirmed its participation in the green bond fund launched by the Bank for International Settlements, or BIS.
The BSP is a member of the advisory committee created by the BIS to give guidance on the objectives of the initiative and the features of the fund, which is designed to help central banks incorporate environmental sustainability objectives in reserve management.
“With its participation in the open-ended fund, the BSP takes a step further in recognizing the role of sustainable investing in reserve management. Investing in green bonds will also provide diversification benefits to the Bank’s total reserves,” it said.
“Climate change appears to be inevitable, and the financial sector has a significant role to play in pursuing sustainable and inclusive growth in the global economy, the environment, and society. The BSP is one with the BIS in its broader commitment to support environmentally responsible finance and investment practices,” it said.