The Philippines’ Department of Finance (DOF) is enhancing the role of the Inter-Agency Technical Working Group on Sustainable Finance (ITSF), also known as the Green Force, as it outlines strategic priorities for 2025 aimed at strengthening sustainable finance policies and coordination.
Co-chaired by the DOF and the Climate Change Commission (CCC), the ITSF is tasked with implementing the Philippine Sustainable Finance Roadmap, aligning government initiatives on green finance, and building a pipeline of sustainable investment opportunities. The group will now take on a more targeted and proactive role in shaping national policy, with quarterly meetings scheduled to monitor progress and foster inter-agency collaboration.
“Our agenda today is simple—to enable the ITSF to take a more active and targeted role in the development of sustainable finance policies in the country,” said DOF Undersecretary Maria Luwalhati Dorotan Tiuseco during the group’s meeting on 28 March. She emphasised the need for transformative reforms to advance sustainable finance across sectors.
In an effort to broaden the ITSF’s scope, the DOF is considering the inclusion of additional agencies such as the Bureau of the Treasury and the Philippine Guarantee Corporation, aiming for a more holistic policy approach.
The ITSF plans to reinforce the three foundational pillars of the Sustainable Finance Roadmap—Policy, Financing, and Investment—through dedicated clusters providing targeted guidance. A Centre of Excellence for Sustainable Finance will also be established to support policy development, capacity building, and market innovation.
Agencies were urged to submit projects aligned with the National Adaptation Plan and Nationally Determined Contribution Implementation Plan to ensure a robust pipeline of climate adaptation and mitigation initiatives. Key priorities identified include a study on a carbon market framework aligned with Article 6 of the Paris Agreement, the development of a national Climate Finance Strategy, revisions to the Sustainable Finance Framework, and green financing guidelines under the new Public-Private Partnership (PPP) Code.
The meeting brought together senior representatives from agencies including the Securities and Exchange Commission, Bangko Sentral ng Pilipinas, Department of Environment and Natural Resources, Department of Energy, and Mindanao Development Authority, reaffirming a cross-government commitment to advancing sustainable finance.
