The Philippine Department of Finance (DOF) is intensifying its commitment to a sustainable future by reinforcing the Inter-Agency Technical Working Group on Sustainable Finance (ITSF), also known as the “Green Force,” as it outlines key priorities for its 2025 sustainable finance strategy. The DOF’s latest initiative aims to institutionalize environmental, social, and governance (ESG) principles into national fiscal planning while accelerating the country’s carbon neutral strategy. 

Undersecretary Maria Luwalhati Dorotan Tiuseco emphasized the goal of enabling the ITSF to take a more “active and targeted role” in shaping sustainable finance policy. Co-chaired by the Climate Change Commission (CCC), the ITSF is central to implementing the Philippine Sustainable Finance Roadmap, aligning public sector initiatives with the country’s climate ambitions. 

A major reform includes restructuring the ITSF into three strategic clusters: a Policy Cluster to harmonize regulations, a Financing Cluster to expand green financial tools, and an Investment Cluster to develop bankable climate-resilient projects. To ensure continuity and stronger inter-agency collaboration, the DOF has proposed quarterly meetings and the inclusion of agencies like the Bureau of the Treasury (BTr) and PHILGUARANTEE. 

The plan also introduces a Center of Excellence for Sustainable Finance, serving as a training and policy support hub, and paves the way for key initiatives such as an updated Sustainable Finance Framework, a national Climate Finance Strategy, and new green financing guidelines under the Public-Private Partnership (PPP) Code. 

Notably, the ITSF is advancing work on a Carbon Market Framework, in line with Article 6 of the Paris Agreement, and is calling on government bodies to align project proposals with the National Adaptation Plan and Nationally Determined Contributions (NDC). 

This renewed focus on ESG and climate-aligned financial planning marks a pivotal step in the Philippines’ journey toward carbon neutrality and inclusive, sustainable development. 

Sources: 

https://esgnews.com/philippine-finance-department-strengthens-green-force-to-lead-2025-sustainable-finance-strategy/  

https://ecoactivetech.com/philippine-finance-department-strengthens-green-force-to-lead-2025-sustainable-finance-strategy/ 

https://www.dof.gov.ph/dof-strengthens-the-green-forces-role-in-sustainable-finance-policy-development-unveils-strategic-plans-for-2025/