FINANCE Secretary Carlos Dominguez 3rd has urged European investors to back the Philippines' first green bond offering in the offshore debt market, which is targeted to raise at least $500 million (P25.66 billion) for clean energy projects and other sustainability initiatives aimed at mitigating the effects of the worsening climate crisis.

Dominguez said the sale of these debt instruments, known as environmental, social and governance sovereign bonds, will take place 'in the coming weeks' during a session on sustainability organized by the European Chamber of Commerce of the Philippines on Friday.