SANTO DOMINGO. - Four multiple banks from the Dominican Republic received awards from the Latin American Banking Federation (Felaban) as an incentive for the most outstanding projects at the regional level in financial innovation and impact on sustainability, which positions the leadership of the local banking sector focused on sustainable finance.
At the III Sustainable and Inclusive Banking Congress, held in Santo Domingo by the Association of Multiple Banks of the Dominican Republic (ABA) and Felaban, nine awards were presented. In the category of Implementation of Sustainable Financial Instruments, Banco Popular for its Green Bond Issuance initiative, aimed at promoting a low-emission economy that is more resilient to climate change.
Meanwhile, Banco BHD received the award in the Sustainable Development Goals (SDGs) and Responsible Finance category for its initiative aimed at achieving these goals. Banco de Reservas won the award in the Inclusion and Financial Education category for its Banreservas Accesible program, which focuses on including people with disabilities in its services.
For its part, Banco Ademi was awarded in the Innovation and Sustainability in the Real Sector category for its financing initiative for agricultural micro, small, and medium-sized enterprises (MSMEs). Other entities in the region that received awards in different areas included: the Brazilian Federation of Banks; Grupo Ficohsa of Honduras; Banco Promerica of Guatemala; the National Development Bank of Paraguay; and the National Bank of Costa Rica, the ABA reported in a press release.
The awards recognize sustainable finance in the country. (EXTERNAL SOURCE).
The "Santo Domingo Declaration" proclaims a regional commitment to sustainability and inclusion
Members of Felaban's Sustainable and Inclusive Banking Committee and representatives of the Latin American banking system signed the "Santo Domingo Declaration" , reaffirming their commitment to sustainability management, financial inclusion and banking resilience, as strategic pillars supporting regional economic and social development.
Through the document, signed at the III Congress of Sustainable and Inclusive Banking, FELABAN and its members recognize the key role of the financial sector in mobilizing capital towards a more resilient, efficient, competitive and inclusive economy, aware of the regional environmental, social and economic challenges.
In this sense, this pact seeks to strengthen the integration of sustainability management into its strategies and operations, by promoting equitable access to financing, developing innovative business opportunities in banking, and implementing business models aligned with the development goals of Latin American countries.
All this, taking into account the region's great potential to drive the transition to more efficient and competitive energy and technologies, and therefore to more sustainable economies, contributing to the various social and environmental commitments at a global level, they expressed.
Sustainability requires shared will, says Superintendent of Banks in closing remarks
The Superintendent of Banks, Alejandro Fernández W., stated that Latin America and the Caribbean face structural challenges in terms of inequality, climate vulnerability and access to financing, so the transformation towards sustainable finance requires a shared will.
“This demands tailored solutions, without losing sight of the common principles that inspire us: equity, resilience, and sustainability. We are certain that we must be part of the driving force behind responsible innovation. Let us not forget, moreover, that we are living through an international period of profound change,” Fernández stated in her closing remarks at the event.
For two days, the III Sustainable and Inclusive Banking Congress brought together authorities, experts and leaders from national and regional banking.
