Philippines debt issues total $3.55B qualified as sustainable investment

The Philippines has raised $3.55 billion in four bond transactions since last year as part of a groundwork to build up sustainable investments and development in the country, the Bureau of Treasury said Monday.

DNV, an independent global provider of assurance on environment, social and governance (ESG) issues, has assured the bonds issued by the government, including the latest Samurai bonds of $550 million, are compliant with the green and social bonds definition under the Green and Social Bond Principles.

The Sustainable Finance Framework, launched early in 2022, a roadmap to drive sustainability projects across the country as part of its commitment to achieve the United Nation’s 17 Sustainable Development Goal (SDG) and their 169 targets. 

The Philippines has made significant progress in areas such as education, employment, and empowering impoverished communities. It is similarly keen in reducing the burden of climate change as the country ranks 113th of 182 in the Climate Vulnerability Index while also having the highest exposure to disaster risks in the 2022 World Risk Index. Every year, the country faces extreme flood events, droughts, and increasingly intensifying typhoons. 

Filipinos, however, are most at risk from poverty and disenfranchisement.