PH sustainable finance hits $10B
Sustainable finance in the Philippines is gaining momentum as the country advances along its energy transition and sees robust growth in renewable energy investments, according to a report by global bank ING.
In its latest Sustainable Finance Pulse report, ING said that since the beginning of the year, the Philippines has already exceeded $10 billion in sustainable finance for renewable energy.
Such financing comes as the Department of Energy’s (DOE) energy road map sets ambitious targets under the Clean Energy Scenario, aiming for 35 percent renewable energy in the power generation mix by 2030 and 40 percent by 2040.
The country’s Green Energy Auction scheme has also secured commitments for roughly 10,200 megawatts (MW) of renewable energy capacity. This addresses both private sector financing and the historic decline in coal power generation in nearly 20 years.
Sustainable finance issuances are loans, bonds and other financial products intended specifically to fund projects that have a positive environmental or social impact.
“The global sustainable finance market’s resilience creates a strong foundation for growth in our Philippine operations,” said Jun Palanca, country manager for ING Philippines.
“We’re seeing increased client interest in sustainable finance products across multiple sectors, and we’re responding by strengthening our local team’s expertise and expanding our product offerings,” Palanca added.
Data centers, or facilities that store and process digital information, are also driving sustainable finance growth in the Philippines.
With the country aiming to reach 1,000 MW of hyperscale data center capacity by 2026, the government is encouraging these facilities to adopt green practices by sourcing power directly from renewable energy suppliers.
According to ING, several leading data centers have already transitioned to 100-percent renewable energy operations.
At the regional level, the Philippines’ momentum mirrors trends across the Asia-Pacific. Sustainable finance issuance in the region totaled $345 billion in the first three quarters of 2025.
