Karlsruhe, Germany – The Philippines was among the most decorated countries in this year’s Karlsruhe Sustainable Finance Awards & Certification Ceremony, which was held at the Achat Hotel in Karlsruhe, Germany on 30 September 2020.
 

The Sustainable Finance Awards honor financial institutions and related organizations with significant contributions to the field of sustainable banking and finance. The awards aim to provide recognition to financial institutions that have successfully embedded economic, social and environmental sustainability into their organizational culture and honor organizations that have made outstanding contributions in the field of sustainable finance, among other objectives.

Three financial institutions from the Philippines were recognized during the ceremony. The Development Bank of the Philippines (DBP) was presented the Award for “Outstanding Sustainable Project Financing for success in financing Solar-Powered Resilient Communities.” The Land Bank of the Philippines (LBP) was conferred a Certificate of Merit for “Best Innovation in Financial Services for success in Enhanced Environmental and Social Safeguards. And, the Alalay sa Kaunlaran Inc. Philippines was granted a “Sustainability Certification” by the International Council of Sustainability Standards and Certification, becoming the first Microfinance Institution to receive such a certification. Receiving the awards on behalf of the Philippine entities was Deputy Consul General Emil Fernandez of the Philippine Consulate General in Frankfurt.

Among the dignitaries in attendance was the Lord Mayor of Karlsruhe, Dr. Frank Mentrup, who extended his congratulations to the awardees. “Sustainably certified financial institutions will be guided by strategic guidelines to mobilize funds for sustainable goals, including climate protection. They provide a response to the crisis, which have serious economic and social consequences,” Mayor Mentrup said in his remarks.

Consul General Evelyn Austria-Garcia of the Philippine Consulate General in Frankfurt echoed Lord Mayor Mentrup’s felicitations to the deserving recipients. “The accolades received by the Philippine financial institutions elevate the country’s status as an example for sustainable financing and recognizes the strides it has achieved to attain the Sustainable Development Goals,” she said.

Also present in the ceremony were the Berlin-based ambassadors of Indonesia, Malaysia, Sri Lanka, Namibia, Nigeria, Uganda and Zimbabwe, who accepted recognitions on behalf of financial institutions in their respective countries.

The EOSD is a body tasked to develop strategies, programs and initiatives, and undertake projects that contribute to the implementation of the EU Strategy for Sustainable Development. It is a strategic partner of the host city, Karlsruhe, by supporting the internationalization of local enterprises and contributing to positioning Karlsruhe internationally as a place of innovation for sustainability. EOSD also has partnerships with government institutions, related groups such as the Association of the Development Financing Institutions in Asia and the Pacific headed by Mr. Octavio Peralta of the Philippines, and key players in the financial sector to fast-track sustainable economic development and environmental protection. (END)