The Marcos administration will continue pursuing a whole-of-nation approach in mitigating climate risks, committing the Philippines to be at the forefront of global climate action, the Department of Finance said.
The ADB has partnered with the Philippines and Indonesia in rolling out the Energy Transition Mechanism project, which aims to accelerate the transition of countries in Southeast Asia from coal to green energy. Currently, the government is mobilizing climate finance through the Green Force, an interagency task force co-led by the DOF and the Bangko Sentral ng Pilipinas .
In March 2022, the Philippines successfully tapped the international capital markets with the country’s offering of $2.25 billion triple tranche five-year, 10.5-year, and 25-year Global Bonds. Proceeds from the sustainability bonds will help fund the government’s general budget and finance/refinance assets in line with the Philippines’ Sustainable Finance Framework.
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