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Manila Bulletin devider Business devider Banking & Finance devider BSP sets green standard: First government building certified for sustainable operations

BSP sets green standard: First government building certified for sustainable operations

Published Nov 22, 2024 07:28 am

The Bangko Sentral ng Pilipinas (BSP) headquarters in Manila received a 4-star rating from the Philippine Green Building Council (PhilGBC) under its Building for Ecologically Responsive Design Excellence (BERDE) program, the first government building certified for improvements in operations.

In a statement on Friday, Nov. 22, the BSP announced that it received the BERDE certification on Nov. 6. 

PhilGBC, a non-stock, non-profit organization and member of the World Green Building Council global network, developed BERDE to "measure, assess, verify, and monitor the environmental performance of projects against building and environmental laws, regulations, and mandatory standards.”

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The Bangko Sentral ng Pilipinas Head Office in Manila clinches a BERDE 4-star rating from the Philippine Green Building Council after demonstrating compliance with the requirements of BERDE in the operations of its facilities.

A 4-star BERDE rating signifies "Country Leader" status. Other ratings include 1 star ("Good Practice"), 2 stars ("Ideal Performance"), 3 stars ("Exemplar Performance"), and 5 stars ("World Class").

BSP Governor Eli M. Remolona Jr. stated that achieving the 4-star rating is "proof that we walk the talk" and "a testament to our belief in the importance of sustainability." 

He added that this recognition is a "small part of our overall drive to practice what we preach."

PhilGBC Chairman Raymond D. Rufino emphasized that the certification is "a credible way to demonstrate our commitment to sustainability." PhilGBC promotes environmentally responsible buildings, districts, and cities. In addition to certifications for operational improvements ("Stage 3 – Operations"), it also certifies new constructions, fit-outs, and renovations.

PhilGBC Chief Executive Officer Christopher C. de la Cruz commended the BSP's efforts to improve the environmental performance of its Manila headquarters. "This is the beginning of a new set of existing buildings that are transformed to be green," he said.

The BSP prides itself on being an independent institution with "environmentally responsible and sustainable policies and work practices" based on its Sustainable Central Banking Framework. This framework includes adopting green building principles for its facilities to improve resilience to natural hazards.

The BSP head office has received other awards in the past. In 2022, it earned a 5-star rating from the Department of Energy (DOE) after an on-site energy audit conducted in compliance with the "Energy Efficiency and Conservation Act." In 2016, the BSP was also among 10 recipients of the DOE’s "Energy Efficiency and Conservation in Government Buildings" award.

In December 2023, the BSP introduced measures under its 11-point Sustainable Central Banking Strategy to integrate sustainable finance into the country’s climate commitments and sustainable development goals. 

These measures allow banks to extend loans for eligible green or sustainable projects with a 15 percent increase to the single borrower’s limit. Eligible projects must align with the principles and categories outlined in various frameworks, including the 2022 Strategic Investment Priority Plan on Green Ecosystems, Health and Food Security; Republic of the Philippines Sustainable Finance Framework; Philippine Sustainable Finance Guiding Principles; ASEAN Taxonomy for Sustainable Finance; and the Philippine Sustainable Finance Taxonomy Guidelines.

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