Committee Dialogue

Sustainable Finance: Spurring Inclusive Infrastructure Development

21Feb
Ascott BGC Taguig City
Committee Dialogue

Under the Philippine Medium-Term Development Plan, the Government aims to spend around 5-6% of GDP for "sustainable, resilient, integrated and modernized infrastructure facilities and services" that includes physical connectivity, water security, affordable and reliable clean energy, and social development. This translates to around Php9.77 trillion from 2024 to 2028. However, during the same period, more than Php16.51 trillion of investment is required for 3,770 identified infrastructure priority programs and projects. As such, there is a significant gap that needs to be filled through private investment. This still does not include private-led infrastructure projects.

One opportunity to encourage mobilizing capital towards infrastructure, particularly those aligned with environmental and social objectives, is by tapping sustainable finance. In this regard, it is helpful for stakeholders to be guided in their operations and investment decisions by a common understanding of sustainable finance and the identification and categorization of sustainable economic activities. For this purpose, the Philippines is expected to finalize and publish its Sustainable Finance Taxonomy Guidelines by 1Q 2023 as part of the Philippine Sustainable Finance Roadmap.

In relation to mobilizing capital, the recently created Maharlika Investment Fund is required to consider the principle of sustainability in all its investments. Based on the recent pronouncements from the newly appointed CEO of the Maharlika Investment Corporation (MIC), the MIF will initially focus on four pillars: i) tourism infrastructure, ii) agro-urbanism, iii) energy sufficiency, and iv) ICT. As such, understanding and appreciating the investment priorities of (MIF) provides a good backdrop on how sustainable finance impacts the flow of funds towards the development of key infrastructure.

This event therefore aims to provide a platform to share recent developments in sustainable finance in the Philippines, opportunities available for investors and businesses, and impart learnings from those who have integrated sustainability in their investment and funding decisions and business operations.

Objectives:

  • To provide an overview of the Philippine Sustainable Finance Taxonomy Guidelines with a focus on infrastructure
  • To provide an overview on the investment priorities and plans of the MIC
  • To have a robust discussion from an esteemed group of panelists who have integrated sustainability in their investment and funding decisions and business operations. This aims to promote constructive dialogue among stakeholders on the need and impact of sustainable finance.
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