Both frameworks will kick into effect by 2023. As a MOBILIZER, the BSP leads and inspires its supervised financial institutions to make environmentally and socially responsible business decisions. We have started integrating sustainability principles in our investment process with over USD 550 million investment in the Green Bond Fund managed by the Bank for International Settlements.
We are also reviewing our investment strategy to consider strategic allocation of investments toward those that espouse environmental, social, and governance principles. Several Philippine banks have already started participating in the growing green, social, and sustainability bond market.