Philippine central bank launches sustainable finance taxonomy

BSP is Asia’s latest monetary authority to set out framework to help tackle climate crisis

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The Central Bank of the Philippines (BSP) on February 22 approved the use of a new sustainable finance taxonomy for banks.

The BSP said in a statement that banks could use the Philippine Sustainable Taxonomy Guidelines (STFG) to identify whether an economic activity was environmentally and socially sustainable, and guide their funding appropriately.

It added that the taxonomy would provide banks with a simplified approach to assess the economic activities of micro, small and medium-sized

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