The Bangko Sentral ng Pilipinas (BSP) is advocating what it called sustainable central banking strategies to aid in mobilizing efforts that will address environment, social and governance issues. Know more:
The Bangko Sentral ng Pilipinas is advocating what it called sustainable central banking strategies to aid in mobilizing efforts that will address environment, social and governance issues.
“Now, of course, my answer always has been that: we will be affected. Indeed, all those estimates of vulnerability and damage, we are usually in the orange to the red color in the heat maps. For instance, climate change could very obviously affect food supply,” he said. The more risky [your activities] are, the more capital you have to put up. And, clearly, climate change will add to the risks,” he said.
“Such vulnerability assessment will comprise a scenario analysis of climate and socioeconomic change and address both physical and transition risks. It will consider both short-term and long-term risks, including those traditionally beyond the horizon of the BSP. This may be undertaken through the support of the development partners,” the BSP said.
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