Pro-environment banking reforms lauded

THE Development Bank of the Philippines (DBP) is one of 130 banks worldwide who have signed the United Nations (UN) Principles for Responsible Banking, launched on the eve of the UN Climate Action Summit in New York on September 23.

The principles commit the financial institutions to strategically align their business with the objectives of the Paris Agreement on climate change, as well as the UN Sustainable Development Goals (SDG). The 130 banks collectively hold USD 47 trillion in assets, comprising a third of the global banking sector.