MANILA, Philippines, Oct. 21, 2024 /PRNewswire/ -- In the heart of the Philippines' financial landscape, the Development Bank of the Philippines (DBP) stands tall as a beacon of sustainability with the distinction as "Top Sustainability Advocates in Asia" conferred by Malaysia-based MORS Group at the Asia Corporate Excellence and Sustainability (ACES) Awards 2023. This recognition affirms the Bank's integration of sustainability into policies and operations, with genuine concern for stakeholders. Its journey, spanning decades, has been marked by pioneering efforts, unwavering commitment, and a holistic approach.
DBP Senior Vice President for Operations Catherine Magana receives the Top Sustainability Advocates in Asia award under the Sustainability category of the Asia Corporate Excellence and Sustainability (ACES) Awards 2023 during the ceremony held in Kuala Lumpur, Malaysia.
DBP has been ahead of the curve in the sustainability arena as exemplified by its pioneering adoption of green practices in the early 1990s. In 2002, it became the first Philippine bank to be ISO 14001-certified for the successful establishment of an Environmental Management System in 1998 and adoption of an Environmental Policy in 1997. Fast forward to the present, it is one of the founding signatories of the UNEP Principles for Responsible Banking in 2019, where DBP was the sole representative from the Philippines.
Community engagement and sustainability drives DBP's operations. Its Corporate Social Responsibility initiatives, including scholarships, outreach projects, and financial literacy programs, not only benefit local communities but also contribute to inclusive growth. Notably, DBP's partnership with indigenous communities through the Lionheart project transformed lives by creating jobs and exemplified DBP's innovative approach to social impact.
DBP's ESG focus is a cornerstone of its success. The Bank proactively integrated sustainable practices into its products and services, aligning with evolving market trends and regulations that bridge customer needs and environmental responsibility. This commitment to sustainability not only benefits communities but also positions DBP as a leader in responsible banking.
With eyes set on an inclusive and sustainable future, DBP continues to impact the nation's progress fostering economic development that benefits all Filipinos. Noteworthy initiatives, such as the DBP Rehabilitation Support Program on Severe Events (RESPONSE), demonstrate its support to communities during calamities and crises, reflecting a strong sense of social responsibility. Additionally, DBP's active participation in the International Climate Bond Initiative underscores its global sustainability standards.
DBP's unwavering commitment to sustainability took center stage once again as it joined ACES Awards 2024, further highlighting its commitment to promote a greener, more inclusive future for the Philippines.