THE Philippines raised P1 billion worth of reserves from sustainable bonds issued by banks in 2023, according to a report of the Bangko Sentral ng Pilipinas (BSP). Based on its Sustainability Report, BSP reported that a total of P236.
THE Philippines raised P1 billion worth of reserves from sustainable bonds issued by banks in 2023, according to a report of the Bangko Sentral ng Pilipinas .
Based on the results of its 2023 Banking Sector Outlook Survey , the BSP said sustainable projects or activities in the next two years or 2024 to 2025 improved to 90.3 percent in 2023 from 79.3 percent recorded in 2021. Apart from sustainable finance, the BSP is also exerting other efforts to drive its sustainability agenda such as recycling banknotes, unfit coins, and turning to the Department of Science and Technology for cyanide-free technology in minting Presidential medals and coins.
“The resulting waste materials were either disposed to sanitary landfills following health and safety guidelines of the respective local governments or donated to manufacturing facilities to serve as alternative fuel,” the report stated. Apart from this, the BSP said it entered into a Memorandum of Agreement with the Department of Science and Technology’s Metals Industry Research and Development Center .
“ will pave the way for the full adoption of this alternative gold plating technique for a safer and greener production process of presidential medals, state decorations and commemorative coins,” it added.
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