Green bond issuers must address greenwashing

THE Philippines, one of the countries that contribute the least - around 0.35 percent - to global greenhouse emissions, is unfortunately ranked high among those most vulnerable to climate change. It is particularly prone to hydrological and meteorological events, such as typhoons, with an average of 20 every year.

Based on National Disaster Risk Reduction and Management Council reports, the top 10 costliest typhoons occurred during 2001 to 2020 with eight happening in the last decade (2011 to 2020). Total losses and damage were said to have reached P322.3 billion. Among those disrupted are the financial and business sectors - over 90 percent of Philippine businesses are micro, small and medium enterprises.