Leaders discuss green investments, urge collaboration for growth, climate action

Multisectoral leaders gathered Wednesday to discuss how green investments can drive economic growth while addressing climate change, stressing the need for cooperation among lawmakers, financial institutions, and private investors to shape policies for sustainable development.

University of the Philippines (UP) Law Center Dean Darlene Marie Berberabe highlighted the importance of collaboration in shaping sustainable development policies.

DBM Secretary Amenah F. Pangandaman announced a 152% increase in climate change-related expenditures, from P457.4 billion in 2024 to P1.156 trillion in 2025, underscoring the government’s commitment to climate finance.

Meanwhile, Undersecretary Maria Luwalhati C. Dorotan-Tiuseco of the Department of Finance (DoF) marked a significant milestone: the People’s Survival Fund (PSF) has received a P1 billion allocation for 13 climate adaptation projects and six project development grants, benefiting local government units (LGUs) nationwide.

“It is going to cost a lot of money, so we look for key areas where the private sector wants to fund para hindi na gagastos ang gobyerno,” she explained during the "Green Financing Reforms: Empowering Private Sector Participation for Sustainable Growth" forum at the Grand Hyatt Manila on Wednesday.

Call for Private Sector Engagement

A panel discussion, moderated by Atty. Ephyro Luis Amatong, former Securities and Exchange Commission (SEC) Commissioner and Program Director of the SAFER Growth Program, focused on how the private sector can integrate sustainability into financial decision-making.

SEC Commissioner McJill Bryant Fernandez stressed the importance of creating an investment climate that prioritizes sustainable projects. “We need all government agencies to be on the same page and ensure proper monitoring of sustainability efforts,” he said.

Fernandez also emphasized the role of micro, small, and medium enterprises (MSMEs) in the green economy, urging financial institutions to support their transition to sustainable business models and include them in the green agenda.

Assistant Governor Lyn Javier of the Bangko Sentral ng Pilipinas (BSP) discussed the central bank’s initiatives in sustainable finance, saying, “We have institutionalized relief measures for smaller banks affected by extreme weather events. Resilience is important, but we must also prioritize adaptation.”

Javier also highlighted BSP’s focus on financial inclusion, raising the single borrowers' limit by 15% to facilitate more sustainable investments. “No one should be left behind in addressing the sustainability agenda,” she added.

Practical Green Investment Approaches

Pinky Padronia, Senior Associate Director of the Bankers Association of the Philippines (BAP), shared a pragmatic perspective on green finance. “There is merit in going green, but we must balance economic growth with sustainability,” she said. “For us to move forward, our lending must be put to good use.”

Padronia also noted that green bonds in the Philippines are consistently oversubscribed, demonstrating strong investor demand. “We want to convert green to gold,” she said, underscoring the financial potential of sustainability investments.

Professor Rowaldo Del Mundo, Associate Dean at the UP College of Engineering, stressed the importance of data transparency in validating green financing initiatives. He pointed out that greenhouse gas (GHG) calculation and verification are essential to ensuring credibility, transparency, and sustainability.

Philippines' Future in Green Financing

Panelists agreed that inter-agency collaboration, financial incentives, and regulatory alignment are essential to scaling green finance in the Philippines.

As the country positions itself as a leader in sustainable finance within ASEAN, stakeholders are encouraged to leverage the growing green bond market and government-backed sustainability programs.

The forum concluded with remarks from Director Jacqueline Joyce Espenilla of the UP Institute of Government and Law Reform (IGLR), who emphasized that sustainable business practices must align with economic growth.

With the momentum around green finance reforms continuing to grow, experts and policymakers are optimistic about the future of a sustainable, climate-resilient financial ecosystem in the Philippines.