The Development Bank of the Philippines (DBP) recently won an international award for its P841.66-million funding of a solar-powered resilient community in Sto. Tomas, Batangas.
The bank bagged the Outstanding Sustainable Project Financing Award during the Karlsruhe Sustainable Finance Awards and Certification Ceremony in Karlsruhe, Germany.
The borrower, Imperial Homes Corporation’s (IHC) Via Verde Homes, is a residential community using ‘Connovate’ concrete panels to build homes.
Manufacturing the panels produce less carbon footprint,. The panels themselves last for 100 years, easy to install, earthquake proof, and resistant to fire and molds.
The solar solutions integrated in Via Verde’s house models likewise reduce carbon dioxide emissions while providing 30 per cent electricity cost savings.
In fact, Via Verde’s house model was the Philippines’ first recipient of Excellence in Design for Greater Efficiencies (EDGE) Certificate of the International Finance Corporation because it complied with global standards for Green Buildings, according to DBP President and Chief Executive Officer Emmanuel G. Herbosa.
In addition, the IHC project is the country’s “First Metered Community,” using the Net Metering Program.
This is a non-fiscal incentive mechanism that enables residents to become “prosumers” or electricity users who can generate electricity for their own consumption while selling any excess generation to the distribution grid.
“Through this project, DBP is also supporting the National Government’s holistic approach to bridge the housing gap and fuel the growth momentum of the housing industry,” Herbosa pointed out.
DBP is the seventh largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics, micro, small and medium enterprises (MSMEs), social services and community development, and the environment.
The Karlsruhe Sustainable Finance Award is presented to financial institutions, relevant organizations as well as chief executive officers who made meaningful contributions to sustainable banking and finance.
The European Organization for Sustainable Development, the City of Karlsruhe in Germany, and the Association of Development Financing Institutions in Asia and the Pacific presented the award.
“This recognized our efforts in ensuring ecological integrity and accelerating infrastructure development,” Herbosa concluded.