Philippine Central Bank Wants Lenders to Disclose Climate Assets

The Philippines’ new central bank head is pushing for lenders’ disclosure of climate-related assets, pledging that the Southeast Asian nation’s banking system will join the global efforts to slow climate change.

Bangko Sentral ng Pilipinas Governor Eli Remolona said the monetary authority is working with scientists to develop a metric for banks’ climate-related assets, which will be used to score banks in terms of their role in fighting climate change.