![Navigating the shift in the banking industry to promote sustainability](https://cdn.magzter.com/1589965519/1719685467/articles/BX0hBWwpf1719688280184/NAVIGATING-THE-SHIFT-IN-THE-BANKING-INDUSTRY-TO-PROMOTE-SUSTAINABILITY.jpg)
In an interview with The STAR, ING Philippines country manager Jun Palanca said the urgency for businesses and governments to promote sustainability increases as environmental, social and governance (ESG) challenges intensify.
"ING Philippines faces similar hurdles as other financial institutions in the country when it comes to promoting sustainability. The biggest challenge lies in navigating the shift towards a low-carbon economy,' Palanca said.
"This transition requires not only new technologies and financial tools, but also updated regulations to guide these changes. Furthermore, financial institutions need to be aware of, and mitigate, the new social and environmental risks that may arise during this transition," he added.
Thus, Palanca said it is crucial to actively engage with stakeholders, including regulators and industry organizations, to advance sustainable development.
Beyond providing funding, financial institutions must also collaborate closely with its clients to help them achieve their target, amplify their impact and coalition-building.
"We are committed to an inclusive approach that makes a meaningful positive impact. By supporting industry peers and advancing the sustainability agenda, we engage in relevant discussions and working groups focused on promoting sustainable finance," he said.
Diese Geschichte stammt aus der June 30, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 30, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Holcim, McDonald's partner for sustainability
Cement maker Holcim Philippines Inc. has teamed up with McDonald’s Philippines to support the quick service restaurant’s sustainability practices.
Mitsubishi revs up new compact SUV
Customers can now make a reservation for Mitsubishi XForce as Mitsubishi Motors Philippines Corp. (MMPC) has opened the prebooking at its dealerships ahead of the vehicle’s launch this Friday.
![DBP, Ormoc City partner for housing project](https://reseuro.magzter.com/100x125/articles/21915/1751389/QbAr1Kr-D1719871659080/DBP-ORMOC-CITY-PARTNER-FOR-HOUSING-PROJECT.jpg)
DBP, Ormoc City partner for housing project
State-owned Development Bank of the Philippines (DBP) has approved a P300-million loan to finance the City Government of Ormoc’s site and land development in support of the flagship national shelter program of President Marcos, a top official said.
DALI still in red, but sees rosy prospects in Phl
DALI still in red, but sees rosy prospects in Phl Retailer DALI Everyday Grocery remains in the red three years after opening its first store in the country.
Sugar producers want consultations on import plan
The Confederation of Sugar Producers Association (CONFED) urged Agriculture Secretary Francisco Tiu Laurel Jr. to conduct consultations with planters regarding the proposed importation of 200,000 metric tons (MT) of refined sugar by September.
Agri group wants gov't to impose safeguard duties on rice
The Philippine Chamber of Agriculture and Food Inc. (PCAFI) has urged President Marcos to impose special safeguards on rice imports to protect local farmers from the ill effects of potential import surges following the reduction of tariffs to 15 percent.
Global bond sale boosts state borrowings in May
The government accumulated P259 billion in borrowings in May due to the issuance of global bonds in its first foray in the international debt market this year.
ROW for Cavitex links on road to completion
Metro Pacific Tollways Corp. (MPTC) has expressed confidence it would complete expansion works for the ManilaCavite Expressway (CAVITEX) on time as it gained headway in the acquisition of right of way (ROW).
No onion crisis; stocks enough until next year
Filipinos won’t be shredding tears over onion prices as the commodity is expected to remain affordable throughout the year since the country’s stocks of the vegetable are projected to last until early next year.
PLDT taps Nokia for business 5G
Telco leader PLDT Inc. has signed the services of Nokia in providing 5G network to businesses, recognizing the evolving demands for connectivity of the corporate sector.