Development Bank of the Philippines

2023

Top Sustainability Advocates in Asia

Development Bank of the Philippines

Top Sustainability Advocates in Asia

2023

about Development Bank of the Philippines

“A Pioneer in Sustainability”

DBP has been ahead of the curve on sustainability, having adopted green practices since the 1990s.

The Development Bank of the Philippines (DBP), a venerable state-owned financial institution, has been a driving force behind economic growth and sustainability in the nation since its inception in 1947. Over the course of 76 years, DBP has continuously adapted to meet the evolving needs of the Philippines, initially focusing on post-World War II recovery and transforming into a key player in infrastructure development, logistics, environmental conservation, social services, and support for small and medium enterprises (SMEs). As a universal-commercial bank, DBP goes beyond convention, striving to provide financial access to underserved and underbanked communities.

DBP’s role in the Philippines has gained newfound significance with the “Build Better More” program, which underscores the bank’s importance in sustaining the nation’s economic growth trajectory. This growth is aligned with the Philippines’ aspiration for a “Matatag, Maginhawa at Panatag na Buhay” (a stable, comfortable, and secure lifestyle) by 2040, in harmony with regional efforts for economic, environmental, and social transformation.

DBP’s commitment to environmental sustainability aligns seamlessly with the Philippines’ pledge to reduce greenhouse gas emissions and the United Nations Sustainable Development Goals. The bank actively supports renewable energy, energy efficiency, sanitation, pollution prevention, resource conservation, and waste management, contributing to global goals for Decent Work and Economic Growth, Sustainable Cities and Communities, and Affordable and Clean Energy.

DBP’s dedication to sustainability extends back to the 1990s when it championed green initiatives. It was the first Philippine bank to attain ISO 14001 certification in 2002 and the first state-owned enterprise to disclose its annual sustainability performance in line with the Global Reporting Initiative by 2008. The bank further demonstrates its commitment to responsible banking through adherence to the Principles for Responsible Banking and the issuance of bonds supporting economic resiliency and sustainability programs.

Recognizing the power of partnerships, DBP collaborates with development allies to enhance financial inclusivity, infrastructure development, responsible entrepreneurship, social services, environmental preservation, and economic competitiveness. Noteworthy projects financed by DBP, such as a mini-hydroelectric power plant and transformative agricultural initiatives, highlight the bank’s dedication to diversity, inclusion, and community well-being.

In 2022, DBP’s sustainability portfolio showcased its commitment to environmental projects, allocating significant funds to renewable energy and sustainability. SMEs and agriculture also received substantial support, emphasizing DBP’s commitment to Filipino businesses and post-pandemic economic recovery.

DBP’s focus on environmental and social risk management solidifies its dedication to sustainability. The bank has established policies and procedures to adapt to emerging issues, responding to customer demand for sustainable products and services that balance customer needs with environmental responsibility.

As DBP continues to integrate sustainable development principles into its operations, good governance remains at the core. The bank prioritizes participative management, transparency, and people development, evident in its stakeholder collaboration and engagement initiatives.

DBP has achieved numerous milestones in sustainability, including being the sole Philippine signatory of the Principles for Responsible Banking, raising funds through ASEAN Sustainability Bonds, and becoming an Accredited Entity of the United Nations Green Climate Fund. Its ambitious goal to achieve net-zero carbon emissions by 2040 highlights its strength in inspiring change through a comprehensive array of renewable energy and environmental protection initiatives.

The Development Bank of the Philippines is a beacon of sustainable development and responsible banking in the nation. With its rich history and unwavering commitment to diverse, inclusive, and sustainable initiatives, DBP stands as a leader in the field and a key driver of positive change in the region, exemplifying its pivotal role in the economic growth and environmental sustainability of the Philippines.

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