KARLSRUHE, Germany – The Development Bank of the Philippines (DBP) won the Outstanding Sustainable Project Award for its assistance to an integrated resource recovery management project during The Karlsruhe Sustainable Finance Awards 2017 ceremonies held here on July 13, 2017.
DBP president and chief executive officer Cecilia C. Borromeo said the award is in recognition of the bank’s funding support to the FDR Integrated Resource Recovery Management, Inc. (FDR-IRRMI), which offers an integrated, zero-waste and no-landfill approach in the management of municipal solid waste (MSW) in Naga City, Cebu.
The integrated resource recovery facility of FDR-IRRMI accepts up to 300 tons per day (tpd) of mixed waste, processes 150 tpd of compost, and produces 60 tpd of refuse derived fuel. It has now handled more than 180,000 tons of MSW in seven years.
“I commend the leadership of the DBP for financing the Integrated Resource Recovery Facility. It has once again clearly demonstrated its commitment to support the implementation of the UN Sustainable Development Goals and the Paris Climate Agreement. I hope that this global recognition will further strengthen their resolve to finance sustainable development in the Philippines and that the management and staff will continue to make sustainability an integral part of the DBP’s DNA,” said European Organisation for Sustainable Development (EOSD) CEO Arshad Rab.
DBP was also one of the signatories to the “Karlsruhe Resolution” signed by delegates to the 7th Global Sustainable Finance Conference (GSFC 7) supporting the U.N.-backed Sustainable Development Goals (SDGs) and the Paris Climate Agreement (COP21) collectively known as the “Agenda 2030.”
The signing ceremony drew over 200 delegates from over 30 countries including high-ranking public officials and senior members of the international financial industry.
The resolution stresses the important role of the financial services industry in achieving the aspirations of Agenda 2030. This includes financing and investing in the implementation of the sustainable development goals and COP21 projects in their respective countries. It also calls on governments and regulators to create policy frameworks that promote investments innovation that will contribute towards creating a green, inclusive, and sustainable economy, calling for a collective global action to ensure a level playing field for all financial sector players.
The crafting of the “Karlsruhe Resolution” was a joint undertaking of the EOSD, the Association of Development Financing Institutions in Asia and the Pacific, the Association of African Development Finance Institutions, and the City of Karlsruhe.
During the GSFC 7 where she made a presentation on DBP’s initiatives in financing the SDGs, Borromeo reiterated DBP’s full commitment to help the Philippine government achieve said goals. “In support of the Philippine government’s efforts to achieve the SDGs, DBP under my leadership shall amplify its activities that will immediately and directly lead to results, but with a better appreciation and appropriate recognition of the country’s distinct and current needs. These current needs will be used as a platform for realizing sustainable development goals on both the national and international levels,” she said.
She likewise presented DBP’s enhanced thrust as aligned with the new administration’s focus on ushering in a “golden age of infrastructure” in the Philippines by massive infrastructure spending that addresses spatial and socio-economic inequality. “Our government has estimated a total of $158-Billion, or an P8-Trillon budget for infrastructure in the next five years. And our President has vowed to ensure special attention to the less privileged by pouring resources into poor provinces and regions. As the country’s premiere development bank with special focus on infrastructure lending, DBP will be a major player not just in resource generation and deployment, but in making sure the gains of economic development is better felt by the majority.”
In closing, she emphasized DBP’s commitment to the four Ps of sustainable development—people, planet, prosperity and partnership. “We are also bolstering work on the fifth (5th) P, or peace, as the DBP aims to be a key player in financing the needs of communities in conflict areas, supporting infrastructure requirements in Southern Philippines and Mindanao, and addressing the special needs of our Muslim brothers.”