Presented by Emmanuel G. Herbosa
President and CEO
Development Bank of the Philippines
Through climate and transition financing to strategic sectors and industries, DBP is committed to balancing economic growth, social inclusion, and environmental protection and believes DFIs should do the same. Incorporating climate change considerations into risk management systems, corporate governance frameworks, and investing and lending should always be a top priority for Philippine DFIs like DBP—which is why they will continue to pursue climate-responsible actions with zeal. DBP will continue to create opportunities to meet current needs without jeopardizing future generations’ ability to meet their own.
With growing interest in sustainability and a concern for human security, DBP has several climates and transition programs in place.
• E2SAVE assists public and private organizations to help increase productivity through the use of new technologies. Loan repayment and credit assistance are based on energy savings, and credit assistance is given to energy service companies to promote energy efficiency projects.
• FUSED – is a power generation and distribution project that has improved access to electricity services, combining utility-scale energy generation with renewable energy and power distribution projects. This investment is long-term, and the total funded renewable energy capacity includes solar, wind, and hydropower.
• SMPP – or Solar Merchant Power Plant Lending Program, is a lending program for utility-scale solar merchant plants in the Luzon and Visayas grids. It contributes to the national government’s goal of incorporating 35% renewable energy into PHL’s energy mix by 2030.
• SWEEP backs the Environmental Solid Waste Management Act of 2000 and the Toxic Substances, Hazardous Substances, and Nuclear Waste Act of 1990. Credit assistance is available to public and private institutions with waste-to-energy projects and solid and hazardous waste management facilities.
• The GREEN CLIMATE FUND provides developing countries with concessional loans, grants, equity, or guarantees to support low-carbon and climate-resilient initiatives. Each GCF project/program is eligible for up to $250 million. Six (6) GCF pipeline projects are completed, including “PSF PLUS,” which expands the People’s Survival Fund’s capital and scope, doubling their budget for adaptation and mitigation and increasing available funds for preparatory needs by 100%.
• They also used P148.26M to fund the DBP Forest Program.
Watch the full speech on ADFIAP DevTalks: https://youtu.be/IOqDnSYNii4