Tue, 24 Nov 2020

DBP bags global award for sustainable finance

Philippine Information Agency
22 Oct 2020, 17:38 GMT+10

CALOOCAN CITY, Oct. 22 (PIA) -- State-owned Development Bank of the Philippines (DBP) recently received an international award for funding the development of a solar-powered resilient community in Sto. Tomas town in Batangas, a top official said.

DBP President and Chief Executive Officer Emmanuel G. Herbosa said the bank won the Outstanding Sustainable Project Financing Award during the Karlsruhe Sustainable Finance Awards and Certification Ceremony held in Karlsruhe, Germany.

"We are humbled by this award that recognizes our untiring efforts in ensuring ecological integrity with a clean and healthy environment, and accelerating infrastructure development," Herbosa said.

DBP is the seventh largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy - infrastructure and logistics, micro, small and medium enterprises (MSMEs), social services and community development, and the environment.

The bank was cited for providing a P841.66-million loan for Imperial Homes Corporation's (IHC) Via Verde Homes Project, a residential community project that uses Connovate concrete panels that offer less carbon footprint, a 100-year lifespan and ensures faster construction, is earthquake proof, and offers superior resistence to fire and molds.

The solar solutions integrated in Via Verde's house models likewise reduce carbon dioxide emissions, while providing electricity cost savings of around 30% compared to the electricity consumption of conventional houses.

Herbosa said the IHC project is the country's "First Metered Community," utilizing the Net Metering Program, which is a non-fiscal incentive mechanism that enables residents to become "prosumers" or electricity users that can generate electricity for their own consumption while selling any excess generation to the distribution grid.

He said Via Verde's house model is the Philippines' first recipient of Excellence in Design for Greater Efficiencies (EDGE) Certificate, an award bestowed by the International Finance Corporation for meeting global standards for Green Buildings.

"In addition to environmental considerations, DBP is also supporting, through this project, the National Government's holistic approach to bridge the housing gap and fuel the growth momentum of the housing industry," Herbosa said.

The Karlsruhe Sustainable Finance Awards are presented to financial institutions, relevant organizations as well as chief executive officers who have made meaningful contributions to the field of sustainable banking and finance.

The awards are presented by the European Organization for Sustainable Development, the City of Karlsruhe in Germany, and the Association of Development Financing Institutions in Asia and the Pacific. (PIA NCR)

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