Insights into Green Finance and Carbon Credits Highlighted at the Sustainability Committee Meeting for August
On 28 August 2024, the Nordic Chamber of Commerce of the Philippines hosted the Sustainability Committee Meeting, focusing on the pivotal topics of green finance and carbon credits. Held at Narra Hall, BDO Valero Towers, the event drew a diverse group of attendees, including business leaders, sustainability advocates, and professionals eager to learn more about sustainable finance strategies.
The meeting featured comprehensive presentations from two distinguished speakers: Marla Garin-Alvarez, Vice President & Head of the Sustainability Office at BDO Unibank Inc. - Philippines, and Anders Haagen, Co-Founder and Chairman of Lionheart Agrotech Limited (Parent of Lionheart Farms). Each speaker provided in-depth insights and industry examples, offering attendees a thorough understanding of how green finance and carbon credits can drive sustainability initiatives.
Marla Garin-Alvarez began the session by sharing BDO Unibank’s commitment to sustainability and the practical steps they have taken to integrate green finance into their operations. She detailed BDO Unibank’s innovative initiatives, such as green bonds and sustainable lending practices, that prioritize funding projects with positive environmental impacts. Garin-Alvarez also explained the importance of carbon credits as a tool for mitigating climate change, emphasizing how these credits can be leveraged to support both environmental conservation and economic development.
She presented several case studies of successful green finance projects, illustrating how BDO Unibank has facilitated investments in renewable energy, energy efficiency, and sustainable agriculture, thereby contributing to the reduction of carbon emissions and the promotion of sustainable practices in the Philippines.
Following Garin-Alvarez, Anders Haagen offered a unique perspective on sustainable agriculture and its intersection with finance. He provided an overview of the feasibility studies conducted by Lionheart Farms, demonstrating how sustainable agricultural practices can be both environmentally beneficial and economically viable. Haagen highlighted Lionheart Farms’ innovative approaches to sustainability, including their efforts to create a closed-loop agricultural system that minimizes waste and maximizes resource efficiency.
He introduced the Coconut Carbon Credit Offer, a groundbreaking initiative that allows for the monetization of carbon savings through sustainable coconut farming practices. By explaining the process of carbon securitization, Haagen showcased how these credits can provide additional revenue streams for farmers while also contributing to global carbon reduction goals. His presentation underscored the potential of sustainable agriculture as a key driver of both environmental sustainability and economic growth.
After the series of discussions from the speakers, the event transitioned into a dynamic Q&A session. Attendees had the chance to engage directly with the speakers, ask questions, and seek clarification on green finance and carbon credits. This interactive session provided valuable insights, addressed specific queries, and deepened the audience's understanding of the topic.
The Nordic Chamber of Commerce of the Philippines extends its heartfelt thanks to all attendees and speakers for their contributions to this important discussion. We look forward to continuing our efforts to promote sustainability and encourage more businesses to engage in green finance practices.
ABOUT THE EVENT
The NordCham Sustainability Committee aims for more collaboration across industries and learning opportunities from experts in the field of sustainability. Since April 2022, the Sustainability Committee has hosted 26 meetings on varying sustainability topics with resource speakers and sharing of best practices, networking opportunities and partnerships, and collaboration with government units.
The next Sustainability Committee meeting will be held on 24 September 2024, from 3:00 PM to 6:00 PM at Rockwell Business Center Tower 3, Pasig, with the topic of renewable energy. Stay tuned to our website and social media for more information.