ARTICLE · 23 JANUARY 2023

FAQs: Rules On Sustainable Finance

SyCip Salazar Hernandez & Gatmaitan

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SyCip Salazar Hernandez & Gatmaitan

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is one of the largest law firms in the Philippines...

BSP Circular No. 1085 defines "E&S risk" as potential financial, legal, and/or reputational negative effect of environmental and social issues on the bank.

PhilippinesFinance and Banking

SyCip Salazar Hernandez & Gatmaitan

What is Sustainable Finance?

BSP Circular No. 1085 defines "sustainable finance" as any form of financial product or service which integrates environmental, social and governance ("ESG") criteria into business decisions that supports economic growth and provides lasting benefit for both clients and society while reducing pressures on the environment. This also covers green finance which is designed to facilitate the flow of funds towards green economic activities and climate change mitigation and adaptation projects.

What is an E&S Risk?

BSP Circular No. 1085 defines "E&S risk" as potential financial, legal, and/or reputational negative effect of environmental and social issues on the bank. E&S issues may include climate risk (both physical and transition risks), environmental pollution, hazards to human health, safety and security, and threats to community, biodiversity, and cultural heritage, among others. These risks are inherent and can directly or

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FAQs: Rules On Sustainable Finance

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