ON Feb. 23, 2024, the Securities and Exchange Commission (SEC) issued Memorandum Circular 5, Series of 2024, or the guidelines on the Philippine Sustainable Finance Taxonomy as part of efforts to promote environmentally and socially sustainable economic activities.

Formulated under the auspices of the Financial Sector Forum (FSF) composed of the Bangko Sentral ng Pilipinas, the SEC, the Insurance Commission, and the Philippine Deposit Insurance Corp., the Philippine Sustainable Finance Taxonomy Guidelines (SFTG) provide a framework for the determination of the environmental and social sustainability of economic activities and guidance for stakeholders in making well-informed investment and financing choices.