PH banks seek policy guide on financing shift to ‘green energy’ projects
by Myrna Velasco | August 25, 2021 | Published by Manila Bulletin | READ THE STORY HERE Energy officials have been casting the country as a ‘mecca for green energy investments’, but one vital anchor to that is project financing, hence, major local banks are seeking policies that will guide them on the shift of financial flows to clean energy ventures. In a virtual forum convened by the Institute for Climate and Sustainable Cities (ICSC), domestic bank giants BDO Capital Investment Corporation and the Bank of the Philippine Islands (BPI) sounded off that funneling massive scale of financing to green [...]
BDO, BPI, DOE call to bridge clean energy financing gap
VIEW EVENT AND RESOURCES PAGE MAKATI, 20 August 2021 -- Banco de Oro (BDO) Capital and Investment Corporation and the Bank of the Philippine Islands (BPI) today called for the shift of financial flows towards the 1.5 degrees Celsius global warming threshold of the Paris Agreement in order to address climate and energy transition risks and increase resilience. They also stressed the critical need to address challenges in financing renewable energy projects, as raised by Department of Energy Undersecretary Felix William Fuentebella. “Banks are implementation ready. We are already strictly regulated by the Monetary Board and the Central [...]