The Philippines is seeing rapid growth in sustainable finance as investments in renewable energy and green infrastructure pick up pace, supported by strong regional demand and increasing interest from global lenders such as ING.
Sustainable finance issuances in the country, the global financial giant said in a report, have exceeded USD10 billion so far this year, driven largely by the government’s push to expand renewable energy. Under the Department of Energy’s roadmap, renewables are targeted to make up 35 percent of the country’s power generation mix by 2030 and 40 percent by 2040. Recent green energy auctions have already secured commitments for more than 10 gigawatts of new renewable capacity, and the country is set to record its first annual decline in coal-fired power generation in nearly 20 years.
The fast-growing data center sector is emerging as a key driver of clean energy demand. The Philippines is aiming to develop 1 gigawatt of hyperscale data center capacity by 2026, as artificial intelligence and digital services fuel power needs. Government programs now allow large electricity users, including data centers, to source power directly from renewable energy providers, and several facilities have begun shifting to 100 percent renewable energy operations.
ING said it is seeing rising demand for sustainable finance products in the Philippines across multiple sectors, particularly energy, technology and financial services. The bank is expanding its local capabilities to support projects that deliver both commercial returns and environmental impact, positioning itself as a long-term partner in the country’s energy transition.
The country’s progress reflects broader strength in Asia-Pacific, where sustainable finance issuance continues to grow. Across the region, companies are investing in renewables, energy-efficient buildings and digital infrastructure, keeping sustainable finance at the centre of funding strategies despite global economic and geopolitical uncertainty.
ING’s latest Sustainable Finance Pulse report shows that while global sustainable finance issuance eased slightly in 2025, demand in Asia-Pacific remains robust. The bank said this resilience provides a strong foundation for further growth in the Philippines as the country accelerates its shift toward cleaner energy and a low-carbon economy.
