GFI Philippines

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The Philippines has posted one of Asia’s fastest expansion rates—6.0% real GDP growth in H1 2024. But while the nation grows rapidly, it also faces significant pressure to decarbonise and adapt to the impacts of climate change.

The Philippines Nationally Determined Contribution Implementation Plan (NDC IP) estimates a significant climate financing need of $72bn required across five priority sectors – agriculture, waste, industry, transport, and energy. With public financing committed to fund 2.7% of this, innovative financial solutions to unlock private financing are essential.

Foreign direct investment in Philippines remains modest, but it doesn’t flow to all sectors, with 89% of commercial banks in the Philippines supporting renewable energy, but only 28% back resource efficiency and circular economy lending and 22% finance zero-carbon transportation. The Mobilising Climate Finance into the Philippines report examines the barriers to investment in the transport and waste sectors, and outlines financial solutions and policy reforms to unlock private capital.

GFI's role

The GFI was asked to accelerate private capital mobilisation for the country’s Nationally Determined Contribution (NDC) by addressing financing gaps in two key sectors: transport and waste. This work is being undertaken in collaboration with the Inter-agency Technical Working Group on Sustainable Finance (the “Green Force”) led by the Department of Finance (DOF) and the Climate Change Commission (CCC). Formalised in 2021, the Green Force’s mandate is to institutionalise sustainable finance and develop a pipeline of bankable green investments.

Our latest report, Mobilising climate finance into the Philippines: a sectoral analysis of barriers and interventions for transport and waste, identifies key barriers to private finance, proposes initial policy and financial solutions and explores how the Philippines’ “Green Force” could evolve into the country’s sustainable investment platform to accelerate private capital towards the country’s Nationally Determined Contribution targets and National Adaptation Programme goals.

 

Team

Reports & Related Content

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22.10.25

Mobilising climate finance into the Philippines: A sectoral analysis of barriers and interventions for transport and waste

To support private capital deployment into key sectors, this report is the first step in a broader effort to drive investment into decarbonising the...

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22.10.25

The Green Finance Institute launches report analysing barriers to decarbonise the Philippines’ transport and waste sectors

To support private capital deployment in key sectors, the GFI produced a report in collaboration with the Philippines DOF and CCC as the first...

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12.05.25

Closing the Climate Finance Gap: Indonesia’s Ministry of Finance and Green Finance Institute, UK, Develop Governance Blueprint for the Sustainable Finance Committee

Closing the Climate Finance Gap: Indonesia’s Ministry of Finance and Green Finance Institute, UK, Develop Governance Blueprint for the Sustainable Finance Committee

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12.05.25

Investors’ Views on Sustainable Finance in Indonesia

Mobilising Investment for Decarbonisation