Financial institutions (FIs) are critical in transitioning the economy to low carbon and driving investments toward more climate-resilient development. ADFIAP organized an international “Study Tour Program on Green Finance: Transition Pathways and Opportunities for Financial Institutions” in Makati City from November 18 to 22, 2024. The study tour program aims to demonstrate that net zero emissions can be achieved by 2050 through collaboration between government and private entities and thus contribute to the achievement of the goals of the Paris Agreement.
The 5-day program was attended by participants from the National Bank for Agriculture and Rural Development (NABARD) of India and the Small Business Corporation (SBCorp) of the Philippines. The first and a half days focused on lectures and presentations covering significant topics such as the Basics of Transition Finance, Transition Finance Pathways in the Energy, Building, and Real Estate Sectors, and FI Transition Initiatives. This was followed by institutional visits on the 2nd half of the second day to the Development Bank of the Philippines for its E2Save Program and other Transition Finance Programs; Bonifacio Global City Estate Association for its green spaces, underground electric lines, and flood control system; and Arthaland for its green building.
The participants visited the Mak-Ban Geothermal Power Plant of Aboitiz Power, Inc. in Laguna on the third day and the Flywheel Energy Storage of Amber Kinetics Philippines, DLSU-Laguna. Then, on the fourth day, they visited the Alaminos Solar Farm and the Battery Energy Storage of ACEN, Laguna; the Carbon Forest Project of Ayala Land Inc. in Laguna; and the solar-powered low-cost housing project of Via Verde Homes in Sto Tomas, Batangas.
In all the institutions/sites visited, the participants were briefed about the projects, their climate impact, the evaluation and monitoring tools used, and the source of financing, if any. The highlight of the learning experience was the tree-planting activity at the Carbon Forest.
Undoubtedly, the program paved the way for building a more profound knowledge and awareness of FIs on climate and transition finance programs and opportunities. Through actual projects on the ground, the participants could see best practices and successful technologies for decarbonization, which they can replicate or modify in their respective organizations.
