The BSP is at the forefront of promoting sustainable finance. We have issued regulations requiring banks to incorporate sustainability principles into their operations. The central bank is also among the early investors in the Bank for International Settlements’ Green Bond Fund and the Asian Green Bond Fund.
Amid the pandemic, the government continued to pursue game-changing reforms that help make the Philippines a preferred investment destination. For instance, it pursued the passage of the Corporate Recovery and Tax Incentives for Enterprises or CREATE, which cut corporate income taxes to make it more competitive with our ASEAN neighbors and rationalized the fiscal incentives system.