Role of eco loans in the advancement of renewable energy technologies

Abstract

The Philippine Central Bank is aware of the effects of climate change and other factors such as environmental and social risk that could disrupt the banking industry. Financial stability is one of the main concerns specifically in its effects in banking operations and financial interests. The study aims to explore the possibility of providing eco loans from Philippine Banks for the advancement of sustainable energy technologies in homes and industries. The study used the Delphi method and interviewed several experts from the banks. The results shows that majority of them do not have an Eco-Loans in their respective banks. However, the majority of the experts stated that it is possible to offer this as part of their banks’ loan portfolio. The experts also suggested that the purpose of the loan should be for purchase of solar panels, inverter appliances and also could be used in the construction of green building.