MANILA, Philippines - The Land Bank of the Philippines was recently recognized as the “Green Bank Champion for Environmental Due Diligence†by the Bankers Institute of the Philippines (BAIPHIL).
The award was conferred last March 9 during the closing plenary session of BAIPHIL’s 27th National Convention at the Taal Vista Hotel in Tagaytay City.
“We, at Landbank, are honored by this recognition and are all the more inspired to further our commitment in promoting environmental protection, not only in our operations but also among our partners and clients,†said Landbank president and CEO Gilda E. Pico.
Landbank’s commitment to environmental protection goes beyond its operations as it endeavors to influence its partners, suppliers, and clients to be environmentally-sound.
The bank’s Environmental Due Diligence (EDD) is embedded in its credit delivery starting from loan packaging until full payment, through which clients are assisted to comply with environmental laws and mitigate environmental risks that could result to possible imposition of fines and penalties or closure due to environment-related violations.
Landbank likewise recognizes the efforts and cooperation of clients with outstanding environmental programs through various awards, such as the Best in Environmental Protection Award under the Gawad sa Pinakatanging Kooperatiba (Gawad PITAK) and the SME Makakalikasan Award under the Gawad Entrepreneur.
The BAIPHIL Green Bank Challenge was organized to encourage the banking community to adopt environmentally friendly practices in their day-to-day operations as well as to contribute to environmental causes.
Other finalists for the award include Rizal Commercial Banking Corp., Banco de Oro, the Bank of the Philippine Islands, and Citibank.