Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla cited the importance of reassessing the regulatory framework to encourage additional lending towards climate change mitigation, as he stres…
Bangko Sentral ng Pilipinas Governor Felipe Medalla cited the importance of reassessing the regulatory framework to encourage additional lending towards climate change mitigation, as he stressed the impact of climate change on the economy.
This, he said, is where the regulatory framework review is needed to ensure that banks’ capitalization is commensurate to the risks they will face once they lend to vulnerable sectors or projects. BSP Deputy Governor Chuchi Fonacier, meanwhile, said the 11-point SCB Strategy is aimed at ensuring a more sustainable future in the financial system.
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