The Philippine Securities and Exchange Commission announced a cooperation agreement with the International Finance Corporation to support the 30by30 Zero Philippines Program, a flagship initiative intended to accelerate sustainable finance in the Philippines. Under the agreement, the SEC and IFC will run capacity-building initiatives for thematic bond issuers, investors and domestic external reviewers, conduct a stocktaking survey on the Philippine Thematic Capital Market, and explore additional areas for collaboration. The programme, developed by IFC and the World Bank with funding from the German government’s International Climate Initiative, targets climate-related lending by financial institutions reaching 30% of total portfolio on average with near zero coal exposure by 2030. The cooperation agreement was signed at a ceremony on 21 January.
Philippine Securities and Exchange Commission 2025-01-24
Philippine Securities and Exchange Commission signs cooperation agreement with International Finance Corporation to support the 30by30 Zero Philippines sustainable finance programme
The Philippine Securities and Exchange Commission has partnered with the International Finance Corporation to advance the 30by30 Zero Philippines Program, aiming to boost sustainable finance. The agreement includes capacity-building for thematic bond stakeholders and a survey of the Philippine Thematic Capital Market. The program seeks to achieve 30% climate-related lending with minimal coal exposure by 2030.