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BSP Joins UN-Backed Principles for Responsible Investment

The Bangko Sentral ng Pilipinas (BSP) announced that it has joined the United Nations-supported Principles for Responsible Investment (PRI).

Developed in 2015, the PRI is a global network of public and private institutions committed to incorporating environmental, social, and governance (ESG) considerations into their investment practices.

By signing the PRI, investors commit to integrating ESG issues into their policies, where consistent with their fiduciary responsibilities.

BSP said that this will allow it to deepen its understanding of responsible investing, enhance the inclusion of ESG factors into the overall investment process and decision-making.

The regulator added that it will also be able to benchmark its practices with other PRI signatories which will help it move closer to its sustainability objectives.

David Atkin

David Atkin, CEO of PRI said,

“We are extremely pleased to welcome BSP as a PRI signatory. As the central bank for the Republic of the Philippines, BSP has a broad mandate and responsibilities, and a unique opportunity to influence the responsible investment ecosystem in the market. BSP is to be commended for its commitment to incorporate ESG factors into its ownership and investment decisions, and we look forward to working with the team.”