Regulatory Alerts2019-04-26
Guidelines on the Issuance of Sustainability Bonds Under the ASEAN Sustainability Bonds Standards in the Philippines
The Securities and Exchange Commission of the Philippines issued these guidelines to regulate the issuance of ASEAN Sustainability Bonds, which finance a combination of Green and Social Projects. Issuers must comply with both the ASEAN Green Bond Standards and the ASEAN Social Bond Standards, ensuring proceeds are not used for ineligible activities such as fossil fuels or harmful social industries. The document establishes definitions, scope, and reporting requirements while reserving the Commission's right to restrict the use of the ASEAN Sustainability Bond label to protect investors.
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