Lawrence Agcaoili – The Philippine Star October 3, 2022 | 12:00am MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has issued guidelines on the implementation of the environmental and social risk management system (ESRM) for banks and financial institutions. BSP Deputy Governor Chuchi Fonacier said the guidance aims to inform banks on the initial steps or approaches that may be considered in developing an ESRM system. “The BSP recognizes that climate change and environmental hazards could pose significant risks to the safety and soundness of individual financial institutions and the…