Landbank bags award anew at Global Finance Conference
For the third year in a row, Landbank was recognized by the Global Sustainable Finance Network (GSFN) for its contributions in the field of sustainable finance.
In the annual Global Sustainable Finance Conference in Karlsruhe, Germany, the Bank was conferred with a Certificate of Merit for its Environmental Due Diligence (EDD) system under the “Best Innovation in Sustainable Financial Products & Services” category.
The award recognizes companies that have successfully “applied innovative approaches in embedding sustainability in lending and/ or deposit products.”
The Landbank EDD is a system through which the Bank conducts environmental impact assessment and monitoring as a requirement in financing projects.
Unlike other Philippine banks that implement EDD on a selective basis, Landbank has integrated environmental due diligence in its credit delivery operations to ensure that loan clients’ projects comply with environmental laws and regulations.
The Landbank EDD has also won for the Bank the “Green Leadership Award” at the 5th Asia Responsible Entrepreneurship Awards held recently in Macau SAR, China. Prior to the Green Leadership Award, Landbank has also reaped various recognitions from local and international organizations for its EDD implementation.
This is the third year in a row that Landbank was recognized by GSFN through the Karlsruhe Sustainable Finance Awards.
In 2014, the Bank was conferred with the “Outstanding Business Sustainability Achievement” award for “incorporating economic, social and environmental aspects in the corporate strategy and business processes.” It was also recognized in 2013 for a loan facility extended to the Municipal Government of Sitangkai, Tawi-Tawi to finance its integrated infrastructure development projects.