Regulatory Alerts2024-11-08
User Guide for Circular No. 1187 on the Adoption of the Philippine Sustainable Finance Taxonomy Guidelines
Bangko Sentral ng Pilipinas issued this User Guide to assist banks in implementing the Philippine Sustainable Finance Taxonomy Guidelines by providing a quick reference for assessing economic activities. The document outlines a seven-step process to determine if activities substantially contribute to climate change mitigation or adaptation while meeting Do No Significant Harm and Minimum Social Safeguards criteria. It further details the traffic light classification system, excluded activities, and specific use cases to facilitate access to sustainable finance.
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