Regulatory Alerts2018-09-06
SEC Memorandum Circular No. 12 s.2018: Guidelines on the Issuance of Green Bonds under the ASEAN Green Bond Standards in the Philippines
The Securities and Exchange Commission issued these guidelines to regulate the issuance of ASEAN Green Bonds in the Philippines, aligning local requirements with the ASEAN Capital Markets Forum standards. Issuers must ensure proceeds exclusively finance eligible green projects, maintain transparent project evaluation processes, and manage funds through tracked mechanisms. The document mandates annual reporting on use of proceeds and encourages external reviews to verify compliance and enhance investor confidence.
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