DBP cited as sustainability advocate
STATE-OWNED Development Bank of the Philippines (DBP) has been recognized by an international organization for being ahead of the curve in the sustainability arena as exemplified by its pioneering adoption of green practices in the early 1990s.
The bank was named as one of the “Top Sustainability Advocates in Asia” under the Sustainability category of the Asia Corporate Excellence and Sustainability (ACES) Awards 2023 which honors enterprises and business leaders in the region for their outstanding corporate excellence and sustainability efforts.
Organized by Malaysia-based MORS Group, the ACES Awards 2023 drew 600 nominations with 70 awardees. DBP was one of the 10 honorees under the Sustainability category.
“This latest achievement is a testament to DBP’s unwavering commitment to sustainable practices deeply ingrained in its organizational DNA, and which have contributed significantly to the fulfillment of its developmental mandate,” DBP President and Chief Executive Officer Michael O. de Jesus said.
DBP was the first Philippine bank to be ISO 14001-certified in 2002 for its successful establishment of an Environmental Management System in 1998 and adoption of an Environmental Policy in 1997 and one of the founding signatories of UNEP Principles for Responsible Banking in 2019, where it was the sole representative from the Philippines.
“DBP also integrated Environmental, Social, and Governance (ESG) considerations into its offerings even before the Philippine Central Bank enacted the Sustainable Finance Framework in 2020 mandating Philippine banks to fully transition to green and sustainable finance in three years,” Mr. De Jesus said.