ADFIAP, partners present climate risk assessment and reporting tools to banks

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ADFIAP, through its consulting and advisory arm, the ADFIAP Consulting (AC) Group, met virtually on October 27, 2020 with its partners in the sustainable finance framework training consortium composed of the World Wide Fund (WWF) Philippines, Global Reporting Initiative (GRI), the Asian Institute of Management (AIM) and the University of Asia & the Pacific (UA&P) to present to the Bankers Association of the Philippines (BAP)the Philippine climate risk assessment and reporting tools developed by WWF that banks can adopt for their climate risk mapping.

This is in connection with the operationalization of the Bangko Sentral ng Pilipinas (BSP) (Central Bank) Circular No. 1085, s. 2020 on “Sustainable Finance Framework” that requires banks and financial institutions to embed sustainability principles, including those covering environmental and social risk areas, in their governance framework, risk management systems, and strategic objectives that are consistent with their size, risk profile, and complexity of operations.

The consortium members informed BAP of their respective roles in the capacity-building program and consultancy service offerings wherein the expertise of each in the sustainable finance space was highlighted. The consortium’s objective is to craft a harmonized and cohesive training and consultancy service offering to BAP member-banks which WWF calls the “Philippine Sustainable Finance Alignment Initiative.” ADFIAP’s contribution to the partnership is its expertise and long years of experience on the risk management aspect of sustainable finance.

ADFIAP was represented in the meeting by Ms. Corazon D. Conde, Group Head of ADFIAP Consulting.

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