Philippines plans maiden green bond offeringMANILA, Philippines — The Philippines will offer government-issued green bonds in line with efforts to maximize public and private funds in pursuing sustainable projects. Finance Secretary Carlos Dominguez said yesterday the government would sell green bonds for the first time, expanding the financing options for raising infrastructure that emits less carbon. While Dominguez did not specify how much the government plans to raise from the maiden issuance, he said the plan forms part of the government’s three-pronged approach in climate financing. Last week, Dominguez confirmed that the Philippines also plans to tap the $10 billion global fund pooled by the Bezos Earth Fund, IKEA Foundation and The Rockefeller Foundation. According to the Department of Finance, local firms issued a total of $4.8 billion in green, social and sustainable (GSS) bonds in 2019.

Source: Philippine Star November 20, 2021 03:56 UTC