Digitalization, Green Finance Pushed

The Bangko Sentral ng Pilipinas (BSP) underscored the importance of digitalization and green finance as part of its efforts to realize its vision for a strong "post-COVID-19" Philippine economy.

Photo Insert: BSP Governor Diokno (center), Monetary Board Member Felipe N. Medalla (top row), PIDS Board Trustee Gilberto M. Llanto, PIDS President Ancieto C. Orbeta Jr., (middle row), De La Salle University Professor and University Fellow Myrna S. Austria, and PIDS Senior Researcher Fellow Margarita Debuque-Gonzales, (bottom row), BSP Senior Researchers Hazel Parcon-Santos and Laura B. Fermo.

During the recent BSP-Philippine Institute for Development Studies Research Forum, BSP Governor Benjamin E. Diokno shared the BSP's vision of a "greener and more resilient, technologically advanced, and inclusive" post-pandemic economy.

Financial digitalization is a key objective of the BSP's Digital Payments and Transformation Roadmap that aims to digitize at least 50 percent of the total volume of retail payments and onboard 70 percent of Filipino adults to the formal financial system through payment or transaction accounts.

Green or sustainable finance, meanwhile, incorporates environmental, social and governance standards to assess the value, performance, and long-term growth of an asset.

Themed, "Resilient Legs for Economic Recovery in the Post-Pandemic Era," the attendees of the forum included economists, policymakers, and members of the academe and non-government organizations.

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