The Philippine Department of Finance (DOF) is ramping up its push for a greener economy by enhancing the mandate and structure of the Inter-Agency Technical Working Group on Sustainable Finance (ITSF), widely known as the “Green Force,” as it lays out strategic priorities for 2025.
Led jointly by the DOF and the Climate Change Commission (CCC), the ITSF plays a central role in implementing the country’s Sustainable Finance Roadmap, aligning climate policies across government, and building a sustainable investment pipeline.
“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 during the ITSF’s recent meeting. “This is our opportunity to share the vision for the ITSF and its role in creating transformative changes in our nation’s sustainable finance landscape.”
Expanded Membership and Structure
To boost the ITSF’s influence and impact, the DOF has proposed the inclusion of additional key agencies such as the Bureau of the Treasury (BTr) and PHILGUARANTEE, aiming for a more holistic and integrated approach to green finance.
A new cluster-based structure has also been introduced to strengthen policy coordination and execution:
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Policy Cluster – focuses on regulatory harmonization and development
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Financing Cluster – streamlines financial instruments for sustainable investments
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Investment Cluster – develops and prioritizes a green project pipeline
Quarterly meetings will be institutionalized to enable ongoing inter-agency collaboration and timely policy review.
Pipeline Activation and Strategic Projects
Government agencies have been directed to align their flagship programs with the National Adaptation Plan (NAP) and Nationally Determined Contribution Implementation Plan (NDCIP), ensuring that climate adaptation and mitigation efforts are reflected in their investment priorities.
Among the upcoming initiatives is an exploratory study on a Carbon Market Framework, guided by Article 6 of the Paris Agreement, as well as:
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A National Climate Finance Strategy
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An updated Sustainable Finance Framework
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New green financing guidelines under the Public-Private Partnership (PPP) Code
Center of Excellence and Institutional Support
To foster capability-building and encourage innovation, the DOF will also launch a Center of Excellence for Sustainable Finance. The center will act as a hub for training, policy support, and market development, supporting both government and private stakeholders in their sustainability transitions.
Broader Government Participation
The March 28 ITSF meeting saw the participation of key agencies, including the Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), PPP Center, Department of Budget and Management (DBM), Department of Environment and Natural Resources (DENR), Department of Energy (DOE), Department of Public Works and Highways (DPWH), Department of Trade and Industry (DTI), Bases Conversion and Development Authority (BCDA), Insurance Commission (IC), and Mindanao Development Authority (MinDA)
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