Green financing: Lawmaker pushes creation of pioneering bank for environmental protection, climate change

Business Mirror - A lawmaker is pushing for the creation of a Philippine Green Bank (PGB) that would provide financing to projects that seek to preserve the environment and address climate and disaster risks.

Sen. Loren P. Legarda, who chairs both the Committees on Climate Change and Finance, said having a green economy would allow the Philippines to become a climate-smart and climate-resilient nation.

“If we want to sustain this path, we need to scale up green financing for adaptation and mitigation measures that will further enable us to protect our environment and our people’s lives and livelihoods. As we go through with our event today, perhaps our discussions should not only focus on how we could enable green financing in all sectors in our country, but also how we can sustain it,”Legarda said in her keynote address during the Green Breakthroughs 2017 at Shangri-La Hotel, Makati City, on November 27.

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