The Asian Development Bank (ADB) has secured additional pledges to fund low-carbon and climate-resilient infrastructure projects for the Association of Southeast Asian Nations (ASEAN). In a statement, the Manila-based multilateral institution said late Tuesday, Nov. 2, that four partners have...
The Philippines incurred billions of pesos in losses due to climate-related hazards in over a decade despite contributing only a meager to global greenhouse gas emissions. The Department of Finance (DOF) revealed Tuesday, Nov. 2, 2021, that extreme weather driven by climate change cost the...
Economic recovery is “not a horse race” among Asian peers, the Department of Finance (DOF) clarified after a number of analysts anticipated that the Philippines may likely become the last country in region to regain its pre-pandemic growth level. “I don't watch the projections for the...
Nueva Ecija Third District Rep. Rosanna “Ria” Vergara chided the Department of Finance for taking an adamant stand against moves to suspend collection of excise tax on fuel as way of protecting Filipinos from the impact of uncontrolled price hikes in petroleum products. Rep. Ria Vergara...
House Deputy Minority leader and Bayan Muna Rep. Carlos Isagani Zarate on Thursday, Oct. 29 slammed the Department of Finance for aggressively pushing for approval of a bill that resulted foregone revenues of P260 billion to government while standing strong against any move to suspend the...
Finance Secretary Carlos G. Dominguez III will represent the Philippines at the global climate action talks and negotiations, also known as 26th Conference of Parties (COP26) of the United Nations Framework Convention on Climate Change, in Glasgow, Scotland next week. Delegates from almost 200...
BDO Leasing & Finance, Inc. (BLFI) registered net income of P39.8 million in the first nine months of 2021 even though it has stopped operations since last year. In a disclosure to the Philippine Stock Exchange, the firm said the earnings were derived solely from fair value gain from...
The Philippines has called on Western economies to act now in significantly reducing their carbon footprints, and make good on their commitments to extend the financing needed by climate-vulnerable countries to transition to a clean energy future. Speaking at the 2021 Asian Infrastructure...
The Climate Change Commission (CCC) wants to integrate climate indicators in the evaluation of government projects and provide localized data especially to highly vulnerable local government units (LGUs). In a statement, Finance Secretary Carlos G. Dominguez III, who is CCC chairman-designate, said...
The Asian Infrastructure Investment Bank (AIIB) has vowed to align its operations with the goals of the Paris Agreement as the Beijing-led lender raises its annual climate finance commitments. Currently, the China-led AIIB estimated its cumulative climate finance approvals to reach $50 billion by...
Opposition lawmakers on Tuesday, Oct. 26 urged leaders of the House of Representatives to prioritize the passage of a bill that seeks to repeal the law imposing excise tax on oil products. Makabayan bloc2 House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate and ACT Teachers...
Finance Secretary Carlos G. Dominguez III has instructed the Bureau of Internal Revenue (BIR) to set up a unit dedicated to track sales of goods done online and to coordinate with their counterparts in other countries to determine how to properly tax these digital transactions. BIR Commissioner...
