The Bangko Sentral ng Pilipinas (BSP), with support from the International Finance Corporation (IFC), a member of the World Bank Group, hosted a Forum on Environmental, Social and Governance (ESG) Practices in Philippine Banks on 13 February 2018. The forum was attended by high level officials from the banking sector, government agencies and international organizations. It served as venue for deepening awareness on sustainable banking and climate finance, available tools and resources, and existing practices on how ESG and environmental and social risk management (ESRM) can be integrated into banks’ lending and investment decisions. The Forum also provided opportunity for participants to network and converge on future actions to facilitate capacity-building on ESG and ESRM. In her keynote, BSP Deputy Governor Chuchi G. Fonacier shared that, “As climate change seems inevitable, we also need to retool, re-define strategies, and pursue sustainable activities that deliver value to customers, and to the environment and society as a whole. The BSP will continue to support the banking industry through enabling regulations and capacity-building.”
During the Forum, the Bankers Institute of the Philippines (BAIPHIL), IFC and Mongolia Bankers Association signed a Memorandum of Agreement to strengthen ESG knowledge sharing and training activities for banks in the Philippines and Mongolia.
In photo (from left): BSP Deputy Governor Chuchi G. Fonacier; Mongolia Bankers Association Manager Nomindari Enkhtur; IFC Director for East Asia and the Pacific Vivek Pathak; and BAIPHIL President Irene Arroyo.