The Central Bank of the Philippines (BSP) held a Leadership Insights Session at its Manila head office featuring Singapore’s Ambassador for Climate Action, Ravi Menon, convening Monetary Board members and senior BSP officials for a strategic exchange on the evolving role of central banks in climate and sustainability. Drawing on his current role and his tenure as Managing Director of the Monetary Authority of Singapore (2011–2023), Menon highlighted climate leadership, regulatory innovation, and regional cooperation, and argued that climate risks are now central to financial regulators’ mandates. The discussion also covered regional collaboration on transboundary climate risks, balancing adaptation and mitigation in line with country context, and improving climate data and risk understanding, alongside the role of clear policy direction and credible market signals in supporting sustainable growth.
Central Bank of the Philippines 2025-09-03
Central Bank of the Philippines hosts climate leadership session with Singapore’s Ambassador for Climate Action Ravi Menon
The Central Bank of the Philippines hosted a session with Singapore’s Ambassador for Climate Action, Ravi Menon, on central banks' evolving role in climate and sustainability. Menon highlighted climate leadership, regulatory innovation, and regional cooperation, asserting climate risks are central to financial regulators’ mandates. The session covered regional collaboration, balancing adaptation and mitigation, and the need for clear policy direction and credible market signals.