CCXG Forum, September 2023, Kelvin Lester Lee

OECD Environment
OECD EnvironmentOECD Environment
OECD-IEA CCXG Global Forum
Possible Sources of Finance for the NCQG
on Climate Finance and Links to Article 2.1c
12 September 2023
COMMISSIONER KELVIN LESTER K. LEE
The SEC Philippines as a matter of policy disclaims responsibility for any
private publication or statement by any of its employees. The views
expressed in this presentation are those of the speaker and are not
necessarily shared by the Commission or its staff.
PHILIPPINE GSS BOND ISSUANCES*
ACMF STANDARDS
ASEAN Green Bond Standards
ASEAN Social Bond Standards
ASEAN Sustainability Bond
Standards
ASEAN Sustainability-linked Bond
Standards
ASEAN Sustainable and
Responsible Fund Standards
Source: Slide adopted from the ACEN – ETM presentation
ACEN recently divested
its 246-MW SLTEC coal
plant using the world’s
first market-based Energy
Transition Mechanism
(ETM).
The Asian Development Bank (ADB)
promoted the ETM concept, which
leverages public and private investments
with the aim of retiring coal power assets
on an earlier schedule than if they
remained with their current owners.
ACEN decided to apply the ETM concept to
the divestment of its 246MW SLTEC coal
power plant; 100% of the net proceeds to
ACEN will be used for the company’s
renewable energy investments.
The ETM transaction entailed the coal
plant’s early retirement and transition to a
clean technology by 2040, cutting the coal
plant’s potential 50-year operating life by
half.
Php 5 billion corporate notes facility to
fund ASA Philippines’ working capital
requirements particularly eligible social
projects in accordance with the issuer’s
gender bond framework
Qualified under the ASEAN Social Bond
Framework under SEC Memorandum
Circular No. 9, Series of 2019 (Guidelines
on the Issuance of Social Bonds under the
ASEAN Social Bonds Standards in the
Philippines)
Use of Proceeds will be exclusively used to
boost lending to women entrepreneurs,
microenterprises in the Philippines,
eligible social projects
ACEN ENERGY TRANSITION ASA PHILIPPINES GENDER BONDS
1 de 3

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CCXG Forum, September 2023, Kelvin Lester Lee

  • 1. OECD-IEA CCXG Global Forum Possible Sources of Finance for the NCQG on Climate Finance and Links to Article 2.1c 12 September 2023 COMMISSIONER KELVIN LESTER K. LEE The SEC Philippines as a matter of policy disclaims responsibility for any private publication or statement by any of its employees. The views expressed in this presentation are those of the speaker and are not necessarily shared by the Commission or its staff.
  • 2. PHILIPPINE GSS BOND ISSUANCES* ACMF STANDARDS ASEAN Green Bond Standards ASEAN Social Bond Standards ASEAN Sustainability Bond Standards ASEAN Sustainability-linked Bond Standards ASEAN Sustainable and Responsible Fund Standards
  • 3. Source: Slide adopted from the ACEN – ETM presentation ACEN recently divested its 246-MW SLTEC coal plant using the world’s first market-based Energy Transition Mechanism (ETM). The Asian Development Bank (ADB) promoted the ETM concept, which leverages public and private investments with the aim of retiring coal power assets on an earlier schedule than if they remained with their current owners. ACEN decided to apply the ETM concept to the divestment of its 246MW SLTEC coal power plant; 100% of the net proceeds to ACEN will be used for the company’s renewable energy investments. The ETM transaction entailed the coal plant’s early retirement and transition to a clean technology by 2040, cutting the coal plant’s potential 50-year operating life by half. Php 5 billion corporate notes facility to fund ASA Philippines’ working capital requirements particularly eligible social projects in accordance with the issuer’s gender bond framework Qualified under the ASEAN Social Bond Framework under SEC Memorandum Circular No. 9, Series of 2019 (Guidelines on the Issuance of Social Bonds under the ASEAN Social Bonds Standards in the Philippines) Use of Proceeds will be exclusively used to boost lending to women entrepreneurs, microenterprises in the Philippines, eligible social projects ACEN ENERGY TRANSITION ASA PHILIPPINES GENDER BONDS