As an archipelago in South East Asia situated on both the “Typhoon Belt” and “Pacific Ring of Fire,” the Philippines has long been exposed to environmental challenges. In fact, the country is considered among the most vulnerable to the effects of climate change – the nation’s 100+ million people which are spread across more than 7,000 islands, regularly face powerful – and increasingly more frequent – typhoons, earthquakes and volcanic eruptions. In more recent years, the country also had to deal with rising sea levels, and periods of droughts and floods caused by the “El Nino” and “La Nina” weather phenomena.

Armed with first-hand experience in dealing with the overwhelming impact of climate change on the economy, Philippine authorities worked toward establishing a supportive enabling environment

for the development of a sustainable financial market. Among the measures taken by the Philippine Securities and Exchange Commission (SEC), in conjunction with fellow ASEAN regulators, was the adoption of the ASEAN Green Bond Standards (GBS), ASEAN Social Bond Standards (SBS) and the ASEAN Sustainability Bond Standards (SUS).