(Bloomberg) -- The Philippine central bank has more than doubled its green bond holdings in a sign that debt used to fund environmental and social projects is gaining popularity among emerging-market policy makers.
Governor Benjamin Diokno on Thursday said the bank has invested $200 million in green bonds this year, after placing an initial $150 million in 2019.
“Investing in green bonds provides diversification benefits,” Diokno said in a virtual briefing, citing lower correlations to other fixed income assets. “The reason for additional allocation was the growing significance of sustainability assets in the investment landscape.”
READ: Green Bonds Make a Comeback as Other Companies Follow Google
The Philippine central bank will continue to assess developments in financial markets and in the area of environmental, social and corporate governance for future investment opportunities, he said.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
