August 31, 2018
SEC MEMORANDUM CIRCULAR NO. 12-18
| SUBJECT | : | Guidelines on the Issuance of Green Bonds under the ASEAN Green Bonds Standards in the Philippines |
WHEREAS, in recognition of the importance of green finance in supporting sustainable growth in ASEAN and the increasing amount of global capital seeking green investments, the ASEAN Capital Markets Forum took a lead role in identifying green finance standards that can be applied for the ASEAN region beginning with the ASEAN Green Bond Standards;
WHEREAS, the ASEAN Green Bonds Standards was developed based on the International Capital Markets Association's (ICMA's) Green Bonds Principles and intended to enhance transparency, consistency, and uniformity of ASEAN Green Bonds which will also contribute to the development of a new asset class, reduce due diligence costs, and help investors to make informed investment decisions;
WHEREAS, Section 8 of the SRC provides that securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the Commission;
WHEREAS, Section 12 of the SRC, the relevant provisions of the...
