ADFIAP, JBIC, DBP hold green finance forum

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ADFIAP and its two members, the Japan Bank for International Cooperation (JBIC) and the Development Bank of the Philippines (DBP), held two-hour forum on “Green Finance: Tools and Opportunities for Banks” on May 12, 2011 at the DBP main office in Makati City, Philippines. The event was attended by 34 participants from Philippine-based ADFIAP members, government agencies, and other financial institutions.

The highlight of the event was the introduction of JBIC’s newly-launched financial instrument called “Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) which supports projects that help mitigate the effects of global warming as well as its complementary “Guidelines for Measurement, Reporting and Verification of the GHG Emission Reductions in GREEN” (referred to as the “J-MRV Guidelines”).

Resource speakers during the event included Mr. Paul Lazaro, DBP Vice President, who presented the Bank’s environmental activities and loan facilities; Mr. Takashi Hongo, JBIC Special Advisor, who presented the background and overview of JBIC’s GREEN initiative; and Mr. Tsuyoshi Nakao, a member of an independent J-MRV Advisory Committee, who discussed the methods and procedures in using the J-MRV in areas like biomass energy (JMRV001), energy efficiency (J-MRV002), waste energy (J-MRV003) and fossil fuel power plant (J-MRV004). Atty. Benedicto Ernesto R. Bitonio, Jr., DBP’s Head of the Development Sector and ADFIAP Secretary General, Mr. Octavio B. Peralta, made the opening remarks.

JBIC https://www.jbic.go.jp/en/ is the international wing of the Japan Finance Corporation (JFC). Its mission is to contribute to the sound development of the Japanese and international economy by conducting international finance operation in the following four fields: promoting overseas development and acquisition of strategically important natural resources to Japan; maintaining and improving the international competitiveness of Japanese Industries; promoting the overseas business having the purpose of preserving the global environment, such as preventing global warming; and responding to disruptions in financial order in the international economy.

For more information on JBIC’s GREEN credit facility and its J-MRV assessment tool, please send email to [email protected]