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Philippines offers at least $500 mn green bonds to European investors

The Southeast Asian country aims for a 75% reduction in greenhouse gas emissions by 2030 under its commitment to the Paris Agreement on Climate Change

The muted reaction is fueling an early debate about whether the booming market for environmental, social and governance (ESG) investments risks skewing incentives for issuers
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To help achieve the target, it plans to retire its coal-fired power plants and seek more investments in renewable energy.

Reuters Manila
Philippine Finance Secretary Carlos Dominguez has sought European investors' support for an inaugural government green bonds offering worth at least $500 million, to raise funds for clean energy projects, his department said on Friday.

Dominguez in a news release said the sale of these debt securities, known as environmental, social and governance (ESG) sovereign bonds, will be done "in the coming weeks".

The Southeast Asian country aims for a 75% reduction in greenhouse gas emissions by 2030 under its commitment to the Paris Agreement on Climate Change, a more ambitious goal than its a previous target of a 70% cut set a

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First Published: Feb 18 2022 | 12:46 PM IST

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