State-owned Development Bank of the Philippines (DBP) has garnered an international award from a regional research organization for its pioneering sustainability initiatives in the country, a top official said.
DBP President and CEO Michael O. de Jesus said the Bank copped the “Green Initiatives Award” for spearheading sustainability efforts in the local banking industry during the Asia Corporate Excellence and Sustainability (ACES) Awards 2024 organized by Malaysia-based MORS Group.
“This accolade is a manifestation of DBP’s enduring commitment to sustainable financing and more importantly, provide inspiration to the men and women of the Bank to continue working towards ensuring a more sustainable future for our countrymen,” de Jesus said.
DBP is the 10th 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; environment; social services and community development.
The ACES Awards is an annual recognition of decision makers, organizations, and business groups in Asia that have successfully integrated Environment, Social and Governance (ESG) principles in their business operations. This year’s awarding rites held in Bangkok, Thailand honored 100 companies and business leaders from 22 countries in the region.
The Green Initiatives Award under the Enterprise-Sustainability Award category cited DBP’s successful integration of sustainability practices into its policies and operations as well as for its pioneering adoption of green practices in the1990s.
In 2002, DBP became the first Philippine bank to be ISO 14001-certified for the successful establishment of an Environmental Management System in 1998 and the adoption of an Environmental Policy in 1997.
“DBP will remain a top sustainability advocate in the country in the foreseeable future through its various development financing facilities as well as its strategic partnerships with other government agencies, international organizations, and private entities,” de Jesus said.
