Report urges improved resilience for BSP facilities vs natural hazards

April 18, 2024

10:07AM PHT

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The Bangko Sentral ng Pilipinas (BSP) said on Thursday that it has completed a comprehensive vulnerability assessment of its facilities against natural hazards, part of its Sustainable Central Banking program.

The assessment, which utilized data from HazardHunter.ph and the University of the Philippines Nationwide Operational Assessment of Hazards (UP NOAH), evaluated the exposure of 24 BSP sites to extreme weather events and environmental risks.

Recommendations from the report include enhancing facility resilience, improving emergency responses, and establishing stronger financial safeguards.

These measures aim to minimize potential financial losses and ensure uninterrupted operations. The initiative reflects BSP's commitment to integrating sustainability into its core operations, with expert insights from WWF Philippines and DOST-PHIVOLCS guiding the assessment.

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