BSP hosts green finance envoy

Singapore’s Ambassador for Climate Action Ravi Menon visited the Bangko Sentral ng Pilipinas (BSP) in Manila on 20 August to headline a Leadership Insights Session that placed climate risks and sustainable finance at the center of the central banking agenda.

Menon, who served as managing director of the Monetary Authority of Singapore from 2011 to 2023, shared his perspectives on how regulators can drive credible climate action.

He stressed that climate risks are now “central to financial central banking mandates” and urged regulators to provide clear policy direction and strong market signals to support the transition to a sustainable economy.

The session gathered BSP Monetary Board members and senior officials for a strategic exchange on how central banks can respond to climate and sustainability challenges.

Among the themes discussed were regional collaboration to address transboundary climate risks, the balance between adaptation and mitigation in different country contexts, and the importance of enhancing climate data and risk assessment across all sectors.