- Broader Government Participation: DOF proposes expanding ITSF membership to include key agencies like BTr and PHILGUARANTEE for a more holistic approach.
- Strategic Policy Frameworks: Establishes three focused clusters—Policy, Financing, and Investment—to drive Sustainable Finance Roadmap implementation.
- Project Pipeline Activation: Agencies are urged to align projects with climate plans to build a robust pipeline for adaptation and mitigation investments.
The Department of Finance (DOF) is accelerating the country’s sustainable finance agenda by expanding the role of the Inter-Agency Technical Working Group on Sustainable Finance (ITSF), also known as the Green Force, as it outlines strategic priorities for 2025.
“Our agenda today is simple– to enable the ITSF to take a more active and targeted role in the development of sustainable finance policies in the country,” said DOF Chief of Staff and Undersecretary Maria Luwalhati Dorotan Tiuseco. “Today is our opportunity to share the vision that we have for the ITSF and its role in creating transformative changes in our nation’s sustainable finance landscape.”
Co-chaired by the DOF and the Climate Change Commission (CCC), the ITSF is tasked with implementing the Philippine Sustainable Finance Roadmap, aligning government green policies, and shaping a sustainable investment pipeline.
To enhance its impact, the DOF will begin holding regular quarterly meetings for continuous policy tracking and inter-agency collaboration. It also plans to bring in additional key players such as the Bureau of the Treasury (BTr), PHILGUARANTEE, and other finance-linked institutions to broaden ITSF’s scope.
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A new structural strategy will create three core clusters within the ITSF:
- Policy Cluster to drive regulatory alignment
- Financing Cluster to optimize financial instruments
- Investment Cluster to develop a pipeline of viable green projects
To support capability-building and knowledge exchange, the DOF will also launch a Center of Excellence for Sustainable Finance, acting as a hub for training, policy support, and market development.
As part of its alignment with international climate goals, the ITSF called for agencies to submit priority programs tied to the National Adaptation Plan (NAP) and the Nationally Determined Contribution Implementation Plan (NDCIP). Among the projects under review is an exploratory study on a Carbon Market Framework, guided by the provisions of Article 6 of the Paris Agreement.
Additional initiatives include:
- A national Climate Finance Strategy
- An updated Sustainable Finance Framework
- New green financing guidelines under the Public-Private Partnership (PPP) Code
Notable attendees at the March 28 ITSF meeting included representatives from the SEC, Bangko Sentral ng Pilipinas (BSP), PPP Center, DBM, DENR, DOE, DPWH, DTI, BCDA, IC, and MinDA.
This strategic alignment marks a pivotal shift toward institutionalizing sustainable finance across government policy and investment planning.
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