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ViewpointDecember 29 2021

Benjamin Diokno: Sustainable banking for greater resilience

Governments and banks alike need to embed fighting climate change into their operations, writes the governor of the central bank of the Philippines. 
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Benjamin Diokno: Sustainable banking for greater resilience

With the conclusion of COP26 and the goal to keep global warming below 1.5 degrees Celsius, we are all aware of the climate emergency. The Philippines sees and feels the effects of global warming firsthand with extreme weather, rising sea levels and displaced communities disrupting lives and causing loss of livelihoods. This is despite our country being one of the lowest emitters of carbon dioxide – in fact, we only produce 0.3% of global carbon emissions. 

As governor of the Philippine’s central bank Bangko Sentral ng Pilipinas (BSP), I recognise our crucial role in bringing about a more sustainable future. 

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