3  There are two main reasons why central banks should be shielded from distributive politics. The first one is legitimacy: the degree of fairness in society should be decided by society itself through the mechanisms of representative democracy.
What we hope for is that fiscal authorities are also doing their part so that we are not really being set up for an impossible mission. The 11-point Sustainable Central Banking Strategy will help enable the BSP to become an enabler, doer, and mobilizer of ESG [environmental, social, and governance] principles.