This Spotlight builds on sources and insights presented in the broader report, [Domestic Capital Mobilization for Climate Finance in Southeast Asia](https://www.ccfacility.org/learning-hub/domestic-capital-mobilization-climate-finance-southeast-asia-report).

Key takeaways:

__The Philippines trails behind regional peers in climate finance and blended climate finance flows__, receiving USD 22.5 billion in climate finance between 2017 and 2022 compared to Vietnam (49.1 billion) and Indonesia (26.9 billion). 
 
__Domestic climate finance is predominantly private sector-led (77% of domestic flows)__. Commercial banks and corporates play a central role, particularly in financing renewable energy and energy related activities. 
 
__The Philippines has the highest share of adaptation finance compared to regional peers__, representing 32% of climate financing flows. 
 
__Since 2022, Bangko Sentral ng Philipinas (BSP) has introduced reforms to unlock sustainable financing__, including easing single borrower limits, lowering reserve requirements for green bonds, and enabling sustainable finance to meet agricultural lending requirements.

Domestic Capital Mobilization for Climate Finance in Southeast Asia: Philippines Spotlight

Convergence, Catalytic Climate Finance Facility