The journey to responsible financing

T-Abraham Lincoln

HE Development Bank of the Philippines (DBP) institutionalized responsible finance practices into its business functions through the integration of environmental considerations into all aspects of its operations and services, asset management and business decisions.

It started in 1997 when an Environmental Policy Statement (EPS) was adopted.

The EPS stipulates the DBP’s commitment to environmental protection and sustainable development. uncompromising due diligence in the evaluation of environmental risks in all projects supported as consistent with DBP’s EPS.

Moreover, the EPM is an innovative means of ensuring that projects comply with the required environmental permitting requirements and clearances, that mitigating measures are in place, and that targets have been met.

In 2002, the bank also achieved The bank also has taken into consideration the Sustainable Develop-

in 2016 and adapted by 193 United Nations-member countries, including

17 global goals and around eight of these goals are towards environmental sustainability.

It embodies universal aspirations that ultimately support the improvement of a person’s quality of life. DBP crafted 10 de-

and initiatives that are guided by

monitored. Aside from these projects, the People Survival Fund and Finance Award also cited some of the bank’s funded project in 2016 and 2017. The Karlsruhe Sustainable Finance Awards is given by -

This journey has not been without its challenges. Admittedly, processes in lending became complicated, and not a few potential clients noted that the bank tended to be stricter than the environmental regulators themselves. Profitable lending opportunities had to be sac-