The
Development
Bank
of
the
Philippines
(DBP)
shines
at
the
ACES
Awards
2024!
Receiving
the
prestigious
Green
Initiative
Award
on
Day
1,
DBP
was
represented
by
Michael
de
Jesus,
President
and
CEO
(right
center),
and
Carolyn
Olfindo,
SVP/Head
of
the
Branch
Banking
Sector
(left
center).
The
award
was
presented
by
Dr.
Shanggari
Balakrishnan,
President
of
the
ACES
Awards
(far
left),
and
Luis
Bueno
Nieto,
Advisor
to
the
ACES
Council
(far
right).
Adding
to
the
celebration,
Michael
de
Jesus
was
honoured
on
Day
2
with
the
Outstanding
Leaders
in
Award,
in
recognition
of
his
exemplary
leadership
that
continues
to
drive
DBP
towards
sustainable
and
impactful
growth.
DBP
leading
the
way
in
green
initiatives
and
inspiring
leadership!
Under
the
leadership
of
PCEO
Michael
O.
de
Jesus,
who
brings
more
than
37
years
of
domestic
and
international
financial
experience,
DBP
solidified
its
position
as
a
catalyst
for
sustainable
development.
With
a
strong
ethical
framework,
the
bank’s
commitment
to
environmental
stewardship,
social
responsibility,
and
good
governance
has
been
instrumental
in
driving
national
progress.
As a flagship environmental undertaking and corporate social responsibility (CSR) initiative, the DBP Forest Program was launched in 2005. Over 6.6 million trees have been planted across 48 project sites spanning 6,000 hectares in collaboration with local communities, universities, and non-governmental organizations—achieving 85% of the 2030 target. This initiative enhances biodiversity, improves local livelihoods, and contributes to the Philippines’ climate action goals through carbon sequestration.
As a key player in driving the country’s transition to a low-carbon economy, with target of 35% renewable energy in the power mix by 2030, DBP actively channels resources to climate financing and renewable energy projects. Through its pioneering Solar Merchant Power Plant (SMPP) financing program, the bank supports developers supplying clean electricity to the Wholesale Electricity Spot Market. Likewise, DBP’s Assistance for Economic and Social Development (ASENSO) for Local Government Units (LGUs) financing program ensures funding for essential infrastructure and socio-economic development projects, including clean energy solutions to uplift living standards nationwide.
DBP’s holistic approach extends beyond financing to education, exemplified by its Resources for Inclusive and Sustainable Education (RISE) CSR program, which provides scholarships to underprivileged students. This emphasis on human capital development underscores the bank’s conviction that education is integral to lasting social and economic progress.
The recent induction of DBP into the Corporate Governance Scorecard Hall of Fame further validates its adherence to high ethical standards, transparency, and good governance. Bolstered by the Senate’s approval of a new charter increasing its authorized capital, DBP stands well-positioned to broaden its development impact, fostering responsible growth, and resilience for future generations.
https://www.dbp.ph/
Hashtag: #ACESAwards2024 #SustainabilityAward #LeadershipAward #Sustainability #leadership #regionalrecognition #DBP #Philippines #leadershipexcellence #outstandingleadersinasia #greeninitiativeaward
The issuer is solely responsible for the content of this announcement.
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