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MANILA - The Bangko Sentral ng Pilipinas (BSP) continues to make progress in sustainable finance as it releases the third phase of regulations aimed at fostering wider adoption of sustainability principles in the domestic financial system. "The BSP recognizes the urgency of promoting the sustainability agenda. We are committed to helping our supervised financial institutions develop their capacity in sustainable finance. This enabling approach will accelerate mobilizing funds toward projects and activities to achieve our growth targets and, at the same time, reinforce the country's resilience to natural disasters and climate change," BSP Governor Felipe Medalla said in a statement. The BSP is now on its third phase of sustainability-related regulations with the recent release of draft guidelines on the integration of sustainability principles in banks' investment activities. The finalization of this policy proposal is targeted for August 2022. The first and second pha

Bangko sentralFelipe medallaSustainable central banking programWorld bankSustainable finance frameworkSocial risk management frameworkSustainable financeAgrarian reformSustainable central bankingManila the bangko sentral ng pilipinas bsp continues to make progress in sustainable finance as it releases third phase of regulations aimed at fostering wider adoption sustainability principles domestic financial system quot recognizes urgency promoting agenda we are committed helping our supervised institutions develop their capacity this enabling approach will accelerate mobilizing funds toward projects and activities achieve growth targetsAt the same timeEinforce the country 39s resilience to natural disasters and climate changeUot bsp governor felipe medalla said ina statement the is now on its third phase of sustainability related regulations with recent release draft guidelines integration principles in banks 39 investment activities finalization this policy proposal targeted for august 2022 first and second phases were marked by issuances sustainable finance framework april 2020 environmental social risk management october 2021Espectively these regulations set out the expectations on integration of sustainability principles in banks 39 core strategiesNd risk management frameworksSpecially in the areas of credit and operational risks these rules also embed principle proportionality