Commission Resolution No. 2021-002 Creating the Inter-Agency Technical Working Group For Sustainable Finance.

The resolution aims for promoting sustainable finance that incorporates environmental, social, and governance (ESG) considerations. This initiative aligns with the Philippine Development Plan (PDP) and the Sustainable Development Goals (SDGs), emphasizing a holistic approach to economic growth that balances societal and environmental needs. The Technical Working Group for Sustainable Finance (ITSF) is chaired by the Department of Finance and includes various government agencies. Its primary functions include formulating internal policies, identifying sustainable project pipelines, mobilizing public and private financing, reviewing existing policies, and ensuring compliance with international climate commitments. The resolution highlights the importance of a whole of government approach to achieve sustainable growth, advocating for good governance, policy consistency, and partnerships between public and private sectors. It also addresses the need for capacity building in local governments to meet ESG standards and climate change initiatives. The ITSF is tasked with meeting quarterly to coordinate efforts across agencies, recommend policy revisions, and oversee the granting of loans and credits for sustainable projects.