New Sustainable Banking and Finance Network Research Reveals Rapid Policy Reforms as Catalyst for Expanding Sustainable Finance in Emerging Markets

Sustainable finance in emerging markets

New Sustainable Banking and Finance Network Research Reveals Rapid Policy Reforms as Catalyst for Expanding Sustainable Finance in Emerging Markets

WASHINGTON D.C., April 24, 2024 – The IFC-facilitated Sustainable Banking and Finance Network (SBFN) has unveiled its 2024 Global Progress Brief and launched the innovative SBFN Data Portal, offering the most comprehensive benchmarking of sustainable finance trends and initiatives across sixty-six Emerging Markets and Developing Economies (EMDEs).

The 2024 Global Progress Brief highlights key achievements, challenges, and opportunities within the SBFN community across three pillars of sustainable finance defined in the SBFN Measurement Framework developed by members: Environmental, Social, and Governance (ESG) Integration, Climate and Nature-Related Risk Management, and Financing Sustainability. This year’s assessment included emerging priorities such as nature-related risk, inclusive finance, and new indicators on climate risk aligned with international good practices and standards.

Since the 2021 SBFN Global Progress Report, all SBFN countries have made swift efforts to introduce climate- and nature-related risk management frameworks, reflecting the translation of commitments made under the Paris Agreement into regulatory action. ESG Integration has also emerged as a cornerstone of sustainable finance, with thirty-nine countries implementing frameworks to manage Environmental and Social (E&S) risks in investment decision-making in line with international standards such as IFC’s Performance Standards, while leveraging them as tools to prevent greenwashing in sustainable finance instruments.

“The record growth of the network and tremendous member progress in shaping policy and influencing markets over the past three years signal the immense power of collaboration, partnerships, and knowledge sharing to steer financial systems toward sustainability,” said Alfonso Garcia Mora, Chair of SBFN Secretariat and IFC Vice President for Europe and Latin America & Caribbean. “SBFN members are demonstrating the importance of recognizing climate and environmental risks as contributors to financial system vulnerabilities, while also highlighting the potential to transform these challenges into opportunities for developing new markets in sustainable finance.”

Furthermore, the surge in the adoption of sustainable finance taxonomies and thematic bond guidelines in SBFN countries is mobilizing financial flows towards activities that support global and national sustainable development goals. Notably, an impressive US$759 billion of thematic bonds have been issued across forty-five SBFN countries.

SBFN comprises ninety-one financial sector regulators, ministries, and industry associations representing seventy countries, and $68 trillion (92 percent) of total banking assets in EMDEs. Moreover, member countries have launched over 400 policies, marking a remarkable 107 percent increase compared to the 2021 report.

In tandem with the Global Progress Brief, SBFN introduced its groundbreaking Data Portal, a dynamic tool designed to track sustainable finance initiatives across member countries on an ongoing basis. Providing detailed insights into SBFN members’ actions, this innovative platform enables regular and consistent monitoring of progress, facilitating multi-dimensional benchmarking across countries, regions, and indicators. The Data Portal will serve as a catalyst for peer-to-peer learning, knowledge sharing, and experience exchange among SBFN members.

“The launch of the SBFN Data Portal represents a significant milestone in our collective efforts to drive sustainable finance forward,” said Nezha Hayat, Chairperson and CEO of the Moroccan Capital Market Authority (AMMC), and Co-Chair of the SBFN Measurement Working Group. “This innovative platform will empower our members to track progress, identify best practices, and foster cross-learning, ultimately accelerating our journey toward a sustainable future.” (PR)

For more information on the 2024 Global Progress Brief and Data Portal, visit https://www.sbfnetwork.org/.

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

Stay connected with IFC on social media

About SBFN

Established in 2012, the Sustainable Banking and Finance Network (SBFN) is a voluntary community of financial sector regulators, central banks, ministries of finance, ministries of environment, and industry associations from emerging markets committed to advancing sustainable finance. The first global network of its kind focused on sustainable finance at market level, SBFN comprises 91 member institutions representing 70 countries and at least US$68 trillion (92 percent) of the total banking assets in emerging markets, as of April 2024. SBFN members are committed to moving their financial sectors toward sustainability, with the twin goals of improved environmental and social risk management (including disclosure of climate risks) and increased capital flows to activities with positive climate, environmental, and social impact. IFC, part of the World Bank Group, is SBFN’s Secretariat and knowledge partner, assisting members to share knowledge and access capacity building to support the design and implementation of national sustainable finance initiatives. For more information, visit https://www.sbfnetwork.org/

New report identifies top 13 decarbonization ideas for SEA, presenting economic opportunity of up to USD 150B

• Five key accelerators to expedite region’s green transition • Green investments rose 20% to USD 6.3B yoy due to renewables and green data centers • Launch of Bain’s SEA Green Economy Index

SINGAPORE – April 15, 2024 – Southeast Asian markets now have a window of opportunity to accelerate decarbonization with actionable ideas and accelerators to unlock these ideas by 2030, according to Southeast Asia’s Green Economy 2024 – Moving the needle, a report by Bain & Company, GenZero, Standard Chartered and Temasek.

In its 5th edition, the report which covers 10 markets – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam – acknowledged that the region faces unique and complex challenges in decarbonization. As a growing economy, Southeast Asia needs to balance economic growth and the costs of the energy transition, as the region has legacy dependencies on fossil fuel for power generation.

The geographical dispersion of renewable resources has caused a mismatch on supply and demand across the region. In addition, limited incentives for carbon reduction and inadequate access to financing are creating barriers to the green transition.

“There is a reality gap between what many believe is happening and true progress on the ground. Despite Southeast Asia’s structural challenges, immense potential exists to accelerate the energy transition and build the green economy. Focusing on proven solutions to decarbonize and accelerators such as blended finance or other incentives can catalyze investment while governments need to figure out the more complex changes. We need to start with what we can do here and now and not miss the opportunity at hand. Our report highlights where we can accelerate progress and invest for a greener tomorrow today,” said Dale Hardcastle, Director of Global Sustainability Innovation Center at Bain & Company, based in Singapore.

Top 13 decarbonization investment ideas present USD 150B green economy market opportunities

The report first assessed 94 investable decarbonization ideas for Southeast Asia by abatement impact and deployability, based on six priority decarbonization opportunities including improved farming practices, nature-based solutions, green fuel source, process optimization, greener transport and energy efficient building. Out of this pool, the top 13 investable ideas across four sectorial themes – nature and agriculture, power, transport, and buildings – were identified. If materialized, these 13 ideas could generate USD 150 billion annual revenue by 2030.

“As one of the most vulnerable regions to climate change, Southeast Asia is experiencing a significant increase in greenhouse gas emissions driven by economic development. While climate investments increased by 20% to USD 6.3 billion in 2023, significant acceleration is needed to meet the USD 1.5 trillion required to achieve 2030 emissions targets. Amidst global competition for climate investments, countries which take the lead in charting out their decarbonization roadmap through clear policy frameworks, supportive regulations and concrete financing plans will be better positioned to attract private investment and accelerate their transition,” said Kimberly Tan, Head of Investments at GenZero.

Five accelerators to expedite region’s green transition

This year’s report highlighted five accelerators to expedite the green transition in the region: (1) a more comprehensive set of policy incentives, (2) innovative finance mechanisms, (3) scaling corporate investment, (4) cluster/ pilot developments and (5) regional collaboration.

Southeast Asia is making progress on policies for the green economy, but the region’s fiscal incentives remain limited and dispersed. The report mentioned the US Inflation Reduction Act (IRA) as a prime example of accelerating green investment in the US and for global players.

Southeast Asian governments should focus where strategic impact and acceleration is greatest to define their own ‘fit-for-purpose IRA for the region that strengthens green competitiveness’, says the report. Notably, the region’s fiscal incentives directed towards fossil fuels amounted to USD $117 billion in 2022, compared to USD $26 billion for renewables. This presents opportunities for the region to focus on green opportunities to capture advantages, by accelerating critical industries, strengthening green exports, promoting nature conservation, catalyzing grid infrastructure, incorporating programs to skill the workforce for new green jobs, and fostering the transition to sustainable agriculture.

Regional collaboration is fundamental to push the green agenda further, according to the report. For instance, a regional cross-border grid would unlock greater access to renewables for the region and increase energy security with effective utilization and resource sharing.

Growing a high integrity voluntary carbon market could unlock and scale supply of nature-based solutions through cross-border carbon market funding and boost investor confidence and corporate demand by capturing full value of credits.

Expanding the ASEAN Taxonomy could help regional stakeholders align on definitions of credible transition and green finance, which improves investor confidence and increases green capital inflows. Joint effort among governments, corporates and investors to play their respective parts is also equally important, says the report.

“Southeast Asia has an outsized role to play in the global net zero ambition. However, the region faces the dual, often conflicted challenge of meeting the rising need for affordable and reliable energy while simultaneously cutting emissions. To seize the green growth opportunity and accelerate the transition in a just and inclusive manner, we need radical collaboration across the public and private sectors, as well as harness the breadth of financial toolkits to catalyze investment flows for sustainable infrastructure and collectively raise the bankability of such projects,” said Kyung-Ah Park, Head, ESG Investment Management & Managing Director, Sustainability at Temasek.

Southeast Asian funds and banks are starting to address financing challenges via innovative mechanisms, and one example is blended finance, says the report. Blended finance is a structuring approach that combines catalytic capital to attract more commercial capital from the private sector. By leveraging catalytic capital to help derisk projects, reduce high cost of capital, and address other investment barriers, the blended finance structuring approach of combining catalytic capital to attract more commercial capital from the private sector helps to increase the bankability of projects and crowds in mainstream capital to unlock greater decarbonization opportunities in the region. Scaling concessional capital and other enablers can unlock an additional pool of up to USD 20 billion for blended finance per year if a common approach is developed for Southeast Asia.

“ASEAN requires an additional USD 1.5 trillion by 2030 to support the transition, but the region offers great potential for climate action at scale. To tap into growing opportunities, we need a coordinated and collaborative approach that builds an ecosystem where private investors and public entities can come together to act against the worst effects of climate change, leveraging catalytic capital to lower the cost of investment and derisk commercial opportunities,” said Tracy Wong Harris, Head of Sustainable Finance Asia, Standard Chartered Bank.

Green investments rose 20% to USD 6.3B yoy due to renewables and green data centers

Southeast Asia requires USD 1.5 trillion in cumulative investment in the energy and nature sectors to reach nationally determined contribution targets by 2030. However, only 1.5% has been invested to date. 2023 saw a notable 21% year-on-year (yoy) uptick in green investments in the region to USD 6.3 billion, reversing the downward trend in previous years. Corporates invested in large-size deals while climate funds invested in start-ups. In addition, there were more domestic investments within the region with a consistent decline in foreign investments.

While power, and in particular renewables, remained the largest green investment theme in 2023, it is the increase in investments in green data centers driven by energy efficiency regulations in Malaysia and Singapore, as well as investments in waste management towards water treatment and plastic recycling in the region that drove the largest investment dollars.

By country, Malaysia and Laos made the biggest yoy jump in green investments, 326% and 126% respectively. Malaysia attracted large-scale green financing for data centers in Johor and Kulai, while a large-scale project to unlock Laos’s renewable potential is being carried out by foreign investors.

Launch of region’s first SEA Green Economy Index

To better help Southeast Asian markets track their decarbonization progress, the report unveiled the region’s first SEA Green Economy Index which examines how each country is progressing across five metrics with varying weightage totaling 100% – ambition (20%), progress (25%), roadmap (20%), accelerator (25%), and investment (10%).

“The index helps provide an objective snapshot of how each country is performing year-on-year and relative to peers. It shows an overview of areas they are doing well and recognizes where progress is being made. It is important to note that this index is constantly evolving as the region continues to tweak initiatives to fit respective markets’ needs,” said Hardcastle.

The index shows that Southeast Asia has made some encouraging moves to reduce greenhouse gas emissions, with Singapore and Vietnam making the most progress over the last year. Eight out of 10 countries have net zero targets, and while they have remained the same as the previous year, more than half of the region’s top emitting corporates have set net zero or emission reduction targets, 15 more compared to 2023. In addition, seven countries have shown progress in adopting renewable energy and electric vehicles, preserving forestland, and enhancing health of cropland soil.

Translating ambition to action and results will take time. Southeast Asia is still in early adoption and has the opportunity to capture proven and the most cost effective decarbonization initiatives. In 2024, the region needs to double down on the top 13 investable ideas, leverage on the key accelerators to unlock these ideas and ensure better cooperation among governments, corporates, and investors.

SM Prime Embarks on a Unified Waste Management Program for an #SMWasteFreeFuture

SM : Waste Free Future

SM Prime Embarks on a Unified Waste Management Program for an #SMWasteFreeFuture 

MANILA – SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, is embarking on a unified waste management and segregation campaign in response to the growing global crises on waste. SM Prime aims to bring all its property groups and stakeholders toward an #SMWasteFreeFuture.

According to the United Nations Environment Programme (UNEP), humanity generates more than 2 billion tons of municipal solid waste annually, of which 45 percent is mismanaged. Without urgent action, municipal solid waste will double to almost 4 billion tons each year by 2050. On December 14, 2022, the United Nations General Assembly proclaimed March 30 as the International Day of Zero Waste.

The following year, UNEP inaugurated the First International Day of Zero Waste, to bolster actions to address the global pollution crisis. It aims to encourage global action and bring the world’s attention to zero waste.

Strong foundations

SM Prime’s founding leader, Henry Sy, believed that “business growth and social development must go hand in hand.” The company follows this guiding principle and has formed a sustainability policy that commits to the following: Resource Conservation and Efficiency, Disaster Resilience, Climate Advocacy, Social Integration, and Transparent Reporting.

Anchored on these sustainability commitments are the SM Supermalls’ Environmental Programs on Waste Management. Through its corporate social responsibility arm, SM Cares, SM Supermalls has pioneered longstanding programs such as the Trash to Cash recycling market, and provided support to the annual International Coastal Clean Up, among other national events.

The largest haul and biggest participation to-date: The 38^th International Coastal Clean-up had 17,000 volunteers across 15 SM Malls in 12 locations nationwide. It is an annual community-driven partnership between SM Supermalls, SM Cares, the DENR, LGU’s and the volunteers from the SM community.

Scaled to perfection: One of the first recycling markets the country, Trash-to-Cash’s valuable example that waste can have monetary benefits. The recycling market is held every first Friday and Saturday of the month in all SM Supermalls to encourage waste segregation and recycling among SM customers, tenants, and the community. The recycling market is open from 10:00 AM to 2:00 PM.

In the hotel and tourism sector, SM Hotels and Conventions Corporation (SMHCC) has taken the lead in mitigating global food waste by implementing sustainable initiatives across its properties in the Philippines. Their key initiatives include the World Wide Fund for Nature’s Sustainable Diner Program, that aims to transform and help the food service sector minimize its impact on the environment thru resource efficiency, plastic refusal and food waste management and contribute to the world’s future food security.

Closing the loop: SMHCC’s sustainability efforts are anchored on the 7Gs or Seven Green Goals, based on the United Nations Sustainable Development Goals (UNSDG). The overall thrust for sustainability is cascaded to the rest of properties, ensuring that it is embedded at every step of the hotel’s operations, ensured by property Sustainability Champions.

To support these programs, SM Prime also recently unveiled its waste-to-fuel partnership with GUUN Co. Ltd. (GUNN) to implement the Japanese technique of reducing landfill impact. The technology converts non-recyclable and hard-to-recycle packaging into alternative fuel.

No time to waste: Sorting through the amount of trash at the GUUN Facility in Cebu. Unfit for recycling and reuse, the waste material recovered avoids the landfill and is then reconverted to fuel resource.

A Vision for an #SMWasteFreeFuture

To mark the International Day of Zero Waste on March 30, 2024, SM Prime is releasing its vision for an #SMWasteFreeFuture. “As a community, we strongly believe in our ability to contribute to solving today’s waste issues,” said Hans “Chico” Sy, Jr., President of SM Engineering Design and Development Corporation (SMEDD) and SM sustainability champion.

SM Prime’s announcement of its vision of an #SMWasteFreeFuture demonstrates the company’s strong commitment and sustainability stewardship, by inviting its stakeholders to engage in activities that will help spread zero-waste awareness and work for a sustainable and environmentally responsible approach on waste management.

“We understand that this may seem like a daunting challenge to overcome However, by joining forces, we can create a world that our future generations truly deserve – if we have the courage to take on this journey together,” said Sy.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. SM Prime is pursuing the next horizon on integrated property development and onward to building sustainable cities of the future. ###

Overseas Filipino Professionals See Surge in Demand Amidst Salary Increment Trends

Among others, survey says 91 percent of those interviewed, employees prioritise work-life balance and workplace flexibility.

Overseas Filipino Professionals See Surge in Demand Amidst Salary Increment Trends

Filipino professionals with overseas experience are witnessing a remarkable surge in demand as the Philippine job market gears up for significant salary increments and enticing bonuses in 2024, according to insights from the Robert Walters Global Salary Survey 2024.

Robert Walters Salary Survey report, a comprehensive analysis of salary trends and recruitment patterns, highlights the growing emphasis on compensatory benefits and the allure of overseas experience among employers seeking key leadership roles.

In response to sustained demand, organisations are poised to offer substantial salary increases, potentially up to 30 percent for job movers, especially in sectors like technology and finance, where skilled professionals are in high demand.

Despite the optimistic job market outlook, there remains a notable discord between employers and employees regarding compensation, benefits, and work-life balance preferences.

Exploring employment opportunities and preferences

The survey indicates that 2 in 4 employees actively seeking new job opportunities within the next year, driven primarily by prospects for career advancement. However, their decision-making is significantly influenced by an attractive bonus scheme (86 percent), access to private healthcare insurance (82 percent), and flexible or remote work arrangements (57 percent).

Moreover, amidst the job search, over half of employees (52 percent) remain open to counter-offers, particularly enticed by salary increments, promotions, and retention bonuses.

As companies grapple with a shortage of qualified candidates, they are striving to meet evolving employee expectations, particularly in terms of work-life balance and workplace flexibility. Employees prioritise work-life balance (91 percent), favoring options like a four-day work week, well-being services (36 percent) such as access to counselors, and diversity and inclusion initiatives (35 percent), signaling a paradigm shift in traditional work structures. The survey reveals a gap in expectations regarding work location. 72 percent of job seekers are willing to spend two to three days in the office, whereas 70 percent of employers expect staff presence for at least three to five days per week.

“Having a stellar candidate experience is now vital as the hiring market becomes more competitive, with more players vying over the best talent. Companies who can lay out a compelling story about the role they are hiring for and how it plays out in the company’s vision will have a better shot at winning the candidates they are after,” Robert Walters Philippines Director Alejandro Perez-Higuero said.

Emerging hiring trends and challenges

In light of emerging trends, the demand for skilled professionals in AI, technology, sustainability, and commercial leadership is expected to soar in 2024. Companies are increasingly relying on automation and digitalisation, driving the need for professionals with international exposure and diverse skill sets.

Currently, 25 percent of employers use AI models to automate routine tasks, with an additional 35 percent planning to do so within a year. Interestingly, some employees (43 percent) express little concern over AI impacts despite its role in enhancing their efficiency.

According to 58% of our respondents said that the primary challenges in talent acquisition across various industries are high salary and benefit expectations, shortage of highly specialised candidates, and a notable concern about the lack of technical skills particularly within the Technology sector.

To retain employees, companies have implemented strategies like enhanced learning and development opportunities (72 percent), hybrid work policies (60 percent), and increased wellbeing initiatives (55 percent).

The most sought-after skill sets include automation, digitalisation, technology, and digital competencies, along with commercial leadership and profit & loss management. Professionals with international exposure are particularly valued, given their broader market and stakeholder understanding.

Industry predictions

The job market in the Philippines is undergoing a transformative phase in 2024, marked by the growth of shared service centers and a substantial shift towards digitalisation and commercial excellence.

As international organisations increasingly establish their shared service hubs in key cities like Manila and Cebu, the country’s labor market is reshaping to meet new demands. With more shared services centers sprouting up in the country, Robert Walters Philippines expects that this will drive higher demand for business heads to lead the hub.

This trend will also lead to the increasing demand for Filipino professionals with overseas experience in leadership roles. Organisations across the Philippines are increasingly focusing on hiring Filipino professionals with overseas experience for key leadership roles. This trend, aligning with the nation’s growth aspirations, is creating a dynamic shift in the local job market.

Companies are keen on leveraging these international experiences to drive innovation and competitive advantage in an increasingly globalised business environment.

“Another growing trend we’ve seen is companies sourcing for talent to fill leadership roles through our Balik Bayan Campaign, which connects companies with skilled Filipino professionals based abroad with valuable, overseas work experience,” Higuero said.

Despite economic fluctuations, salaries are projected to remain stable in 2024, with job movers poised to reap significant rewards amidst evolving market dynamics.

For more insights on the Robert Walters Philippines Salary Survey 2024, visit: https://www.robertwalters.com.ph/our-services/salary-survey.html (PR)

Come to this “DATE” September 29, 30 at SMX

Resilient, innovative agripreneurs

24th Agri Trade Expo

The 24th Agri Trade Expo (DATE) will feature innovations and solutions to address the challenges faced by the Agribusiness sector. This was said by Cherrylin Casuga, DATE 2022 Chairperson.

She said it would be a perfect avenue to learn from companies that are offering technologies that would massively help striving agripreneurs to be resilient and innovative.

It’s going to be a date among farmers, innovators, international companies, and government agencies with a common goal, she said.

With the theme “Innovative Agribusiness: Achieving Productivity and Sustainability for Food Security”, DATE 2022 will be held on September 29 to 30 at SMX Convention Center in Davao City.
FOR INQUIRIES, contact 0917-441-9596 | 0951-068-1934 or through davaoagritradeexpo@gmail.com

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Building femmepire for womentrepreneurs

The Women at Work Pop-Up Market is SM’s platform to support local female-owned businesses in partnership with the United Nations (UN) Women, Philippine Commission on Women (PCW), and Department of Trade and Industry (DTI) held at the Annex Event Center in SM City Davao, which runs from March 5 to 31. The same fair will be also conducted at The Atrium in SM Lanang Premier on March 12-19.

The Women at Work Fair ribbon cutting ceremony was graced by (L-R) Mutya ng Davao 2019 Jeriza Uy, Jennevy V. Cabiza, Area Coorinator, Great Women Project Philippine Commission on Women, Michaela Angela Gonzales, Owner of Green Bounty Kitchen, and Pinky S. Hinong, Group Marketing Manager, SM Supermalls Mindanao.

Building femmepire for womentrepreneurs

A believer of sustainability, banana chip maker Bienvenida Morales rolls up her sleeves and moves forward amid life’s challenges. To her, it is best to keep their hands busy and stay productive than giving up.

Bienvenida Morales, president of Salingcomot Rural Women Association

“We must always continue,” shares Morales, president of Salingcomot Rural Women Association.

The association based in Baganga, Davao Oriental, which started in 2017, has now 43 members. They offer different products including banana chips, massage oil, fabric conditioner, and dishwashing liquid.

Another group of empowered women, San Lorenzo Women’s Group Association (SALOWAGA), meanwhile, seize the opportunity amid pandemic — to make cloth face masks in different designs and sizes.

SALOWAGA president Jovelyn Anac shares that they are able to innovate and help boost supply of face masks especially in these times of crisis. Apart from face masks, their association sells bags, hankerchief, bracelets, pillow cases and other products.

Jovelyn Anac, president of San Lorenzo Women’s Group Association

The group, which began in 2017, is based in San Lorenzo, Talomo, Davao City with 30 active members.

Salingcomot Rural Women Association and SALOWAGA are among the exhibitors in the Women at Work Pop-Up Market at The Annex Event Center in SM City Davao, which runs from March 5 to 31. The same fair will be also conducted at The Atrium in SM Lanang Premier on March 12-19.

“Through the pop-up market organized by SM, we are able to feature and promote our products. We are truly grateful to SM Supermalls,” says Anac.

The Women at Work Pop-Up Market is SM’s platform to support local female-owned businesses. It is in partnership with United Nations (UN) Women, Philippine Commission on Women (PCW), and Department of Trade and Industry (DTI).

Here are other products on display and other photos during the opening of the Fair.

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