The Development Bank of the Philippines (DBP) has partnered with four institutions to promote Green Financing – investing in processes and systems friendly to the environment – with P20.6 billion facility.
DBP’s P20.6-billion facility is available for industries and local government units embarking on projects for cleaner production, re-ducing waste, conserving resources, promoting efficient use of energy and curbing pollution.
To push green financing, the state bank has forged partnerships with the European Chamber of Commerce in the Philippines (ECCP), the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), the Asia Society for Social Improvement and Sustainable Transformation (ASSIST) and the Environmental Management Bureau of the Department of Environment and Natural Resources (EMB-DENR).
“We have formalized our partnerships to promote industrial productivity and green growth while protecting the environment,” announced DBP president & chief executive officer Francisco F Del Rosario, Jr during last week’s signing of the agreement. DBP is partnering with the ECCP for the SMEs for two projects.
First, they are undertaking the environmental Accountability, Responsibility and Transparency (SMART) Cebu Project to increase the competitiveness of SMEs via cleaner production, developing eco-friendly products and entering green markets in Europe and Asia.
They are likewise working together on the Green Philippines Islands of Sustainability promoting sustainable production for industries within Metro Manila and CALABARZON.
DBP’s second partner, ADFIAP, incorporates safe and clean environment in its business practice as it organizes training programs on development banking, risk management, access to finance, corporate and environmental governance.
The bank’s third partner, ASSIST, an international capability building organization, has implemented various developmental projects in Southeast Asia, South Asia, China and some parts of Africa.
Now, DBP and ASSIST are collaborating on promotional activities and identifying potential projects for funding under the Green Financing program.
On the other hand, DBP and EMB are helping industries and other regulated establishments comply with environmental regulations, such as environmental permits and conditionalities.
Definitely, DBP is committed to continue reaching out to industries, local government units and other establishments via its Green Financing initiative, Del Rosario said.
“In particular, we are funding investments in cleaner production, pollution abatement facilities, sanitation infrastructure, energy efficient transport and facilities, and renewable energy projects,” he said.
“We also fund other ventures for wealth creation and job generation that reduce carbon footprints from their operations.”
