This program aims to integrate environmentally responsible and sustainable policies and work practices within the BSP. The BSP will also be issuing enabling regulations on sustainability or Environmental, Social and Governance (ESG) -related guidelines in phases to encourage the financial industry to invest in activities that will promote climate-resilient, green, and sustainable growth.
Notably, the incentive structures often tied originator revenue to loan volume rather than to the quality of the loans being passed up the chain.