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DENR inks agreement for green financing


Published : Friday, April 20, 2012 00:00 [ manilatimes.net ]
To help local government units and regulated industries, the Department of Environment and Natural Resources (DENR) through the Environmental Management Bureau (EMB), signed an agreement with the Development Bank of the Philippines (DBP) that will boost green financing in the country, by providing concerned stakeholders access to the best financing program available for their environmental improvement initiatives.
The agreement, signed on April 12 at the DBP Executive Lounge, was inked by EMB Assistant Director Gilbert Gonzales for the DENR and DBP President Francisco Del Rosario Jr.
Under the agreement, the EMB will work hand-in-hand with DBP and other financial institutions to assist its stakeholders in gaining access to financing programs that will support projects on improved environmental compliance, pollution control, waste management, and climate change mitigation and adaptation.
Gonzales conveyed the DENR’s optimism on the partnership as it seeks to help industries and other establishments, including government offices, to comply with existing environmental laws and standards.
“We recognize that the reason for non-compliance [to environmental requirements] is due to lack of funds to support investments in environmental improvements and pollution control. Through this partnership with DBP, we hope to address this gap and strengthen the implementation of the country’s environmental laws,” he said.
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Del Rosario stressed that the agreement provides a framework for a partnership arrangement between DBP and EMB for purposes of providing training and consultancy services to improve the country’s efforts to clean and protect the environment.

“The DBP continues to reaffirm its commitment to help industries, especially those cited for violation, to bring them back to a state of compliance and improve their environmental performance,” the DBP president said.

In 2011, the DENR cited DBP for its green operations and was given an environmental excellence award during the 2011 recognition awards for eco-friendly government offices.

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